The Financial Supervisory Authority (FME) hereby publishes the opening balance sheets for New Glitnir Bank hf., New Kaupthing Bank hf. and NBI hf. These contain provisional figures which are subject to a revaluation which has already commenced.
The FME would like to clarify that when it was decided, on the basis of Act No. 125/2008 dealing with unusual financial market circumstances, that three new banks founded by the State Treasury should take over a portion of the assets, rights and obligations of Landsbanki Íslands hf., Glitnir Bank hf. and Kaupthing Bank hf., particularly those related to the domestic operations of the banks, the board of each new bank was officially given a temporary opening balance sheet accompanied by a statement explaining how assets and liabilities on the balance sheets of the old bank had been divided. In this respect, all decisions of the FME have been published as stipulated by law.
On 31. October 2008, the Financial Supervisory Authority, Iceland (the FME) obtained confirmation that Glitnir Bank hf. had not been able on 3. October 2008 to render payment of certain wholesale deposits in the United Kingdom in accordance with applicable terms.