29.12.2006 : Circular on article 27 of Rules on Solvency Ratio of Financial Undertakings

The FME sent out a circular to financial institutions dated 25 Nov. 2005 regarding article 27 of Rules on the Solvency Ratio of Financial Undertakings No. 530 of 30 June 2003.

29.12.2006 : Consultation Paper No. 1/2006

FME releases today Consultation Paper No. 1/2006, a draft Guidance on the treatment of changes in insurance companies' own funds and liabilities, as a consequence of the take up of International Financial Reporting Standards (IFRS).

29.12.2006 : Defaults to depository institutions at the end of the 4th quarter of fiscal year 2005

The FME has processed figures showing defaults by borrowers of depository institutions at the end of the 4th quarter of fiscal year 2005 and comparable figures for the preceding quarters.

29.12.2006 : Rules on FME criteria for assessing the exposure of financial undertakings and their capital adequacy

The FME has issued Rules No 177/2006 amending Rules on FME criteria for assessing the exposure of financial undertakings and decisions on capital adequacy ratios above the statutory minimum.

29.12.2006 : Circular regarding Article 82 in the Insurance Contract Law no. 30/2004

Circular regarding Article 82 in the Insurance Contract Law no. 30/2004 on obligation of the policyholder and insured to provide information on the risk, restrictions on information provision.

29.12.2006 : Guidelines on the use of financial derivatives instruments for undertakings fo investment in transferable securities

The Financial Supervisory Authority has on 30th of March 2006 set guidelines on the use of financial derivatives instruments for undertakings for collective investment in transferable securities.

29.12.2006 : Stress Test

All Icelandic banks passed FME's stress test based on their financial position at year end 2005

29.12.2006 : CEIOPS Second Quantitative Impact Study (QIS2)

FME has asked insurance companies to participate in QIS2, in order to acquire insight into the impact of Solvency II, the new solvency and supervisory standard in preparation by the European Commission, with the advice of CEIOPS.

29.12.2006 : Pension Funds: Annual Accounts for 2004

Annual Accounts For 2004 and Other Information

29.12.2006 : FME has issued Guidelines No. 3/2006 on prudential filters regarding the implications of the introduction of IFRS on the solvency of insurance undertakings

The Guidelines are directed to insurance companies which already have implemented or will in the future implement IFRS.

29.12.2006 : Management companies to UCITSand investment funds 2005

Balance Sheets, Dec. 31. 2005, Profit and Loss Accounts 2005, and Diverse Figures From the Annual Accounts

29.12.2006 : Undertakings engaged in Security services, 2005

Balance Sheets, Dec. 31. 2005, Profit and Loss Accounts 2005, and Diverse Figures From the Annual Accounts

29.12.2006 : CESR publishes its final guidelines on the simplification of the cross-border notification procedure of UCITS

CESR (The Committee of European Securities Regulators) publishes its final guidelines on the simplification of the cross-border notification procedure of UCITS

29.12.2006 : Defaults to depository institutions at the end of the 2nd  quarter of fiscal year 2006

The FME has processed figures showing defaults by borrowers of depository institutions at the end of the 2nd quarter of fiscal year 2006 and comparable figures for the preceding quarters.

29.12.2006 : Article on the Icelandic Pension System, published in International Pension Funds and their Advisers

A new article on the Icelandic Pension System is now available at the FME website.

29.12.2006 : Information on premiums and total market share of foreign EEA insurance companies in Iceland 2001-2004

FME has published statistical data on foreign EEA insurance companies' operations in the Icelandic market.

29.12.2006 : The effects of simultaneous shocks on capital ratios of the largest Icelandic banks

The FME has calculated the effects of simultaneous shocks on capital ratios of the largest Icelandic banks as described in Rules No 530/2004, with later amendments.

29.12.2006 : The Annual Meeting of the FME 2006

Around 250 persons from the Icelandic financial community attended the annual meeting of the FME, which was held 7 November 2006.

29.12.2006 : The Market Abuse Directive – draft proposal

The Financial Supervisory Authority in Iceland (FME) has participated in the work of the Committee of European Securities Regulators (CESR).

29.12.2006 : FME: Defaults to depository institutions at the end of the 3rd quarter 2006

The FME has processed figures showing defaul by borrowers of depository institutions at the end of the 3rd quarter of fiscal year 2006 and comparable figures for the preceding quarters. In this analysis, default is defined as having amortisation and interest payments in arrears for more than one month.

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