Landsbanki CEOs Said Iceland Would Guarantee Icesave Skip to content

Landsbanki CEOs Said Iceland Would Guarantee Icesave

The then CEOs of Iceland’s Landsbanki, Sigurjón Th. Árnason and Halldór J. Kristjánsson, sent a letter to the Dutch Central Bank (DNB) and the Icelandic Financial Supervisory Authority (FME) on September 23.

Photo by Páll Stefánsson.

The letter states that the Icelandic state would guarantee the minimum deposits in Icelandic banks, including Landsbanki’s online savings unit in the UK and the Netherlands, Icesave, Morgunbladid reports.

Two weeks later Landsbanki collapsed along with Iceland’s two other largest commercial banks, Kaupthing and Glitnir.

The letter reads that, “If one EEA nation (or its supervisory body) begins predicting the ability of another EEA nation to meet its obligations according to the European regulatory environment, it seriously undermines the core issues of the European Union’s inner market.”

The letter goes on to state, “The Icelandic state is respected within the EEA and its honoring of the EEA regulatory environment shouldn’t be doubted this way.”

Click here to read more about Icesave.

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