Banking in Iceland

This article needs to be updated. Please help update this article to reflect recent events or newly available information. (August 2016)

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Banking in Iceland faced a crisis in 2008, which resulted in the government taking over three of its largest commercial banks.

The short-term liabilities of Icelandic banks in proportion to Iceland's GDP are 211%, as of 11 October 2008, or 480% of the country's national debt, and the average leverage ratio (assets/net worth) is 1 to 14.[1]

## History[edit]

### Icelandic financial crisis[edit]

Main article: 2008–2011 Icelandic financial crisis

In 2008, Iceland's three major privately owned commercial banks defaulted.

## Major Banks[edit]

### Central Bank[edit]

* Seðlabanki Íslands

### Major Commercial Banks[edit]

* Landsbankinn
* Íslandsbanki
* Arion banki
* MP banki

### Investment Banks[edit]

ALMC hf

## See also[edit]

* Banks portal

* 2008–11 Icelandic financial crisis

## References[edit]

1. ^ "The World's Banks Could Prove Too Big to Fail — or to Rescue". The New York Times. 11 October 2008. Retrieved 14 August 2016.

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