A report containing information from the annual financial statements of pension funds for the year 2007 is available at the FME's webpage. There is also an excel file that contains statistical information from the report. The main results of the report are the following: The real rate of return was 0,5% above the consumer-price index, compared with 10% in 2006. Five-year average was 9,1% and ten-year average was 5,9%.
The four largest commercial banks all pass the regular stress test of the Icelandic Financial Supervisory Authority (FME).
The total after tax profit of domestic insurance companies was 13.5 bn. ISK in 2007 compared to 19.5 bn. ISK in 2006. Around 70% of the profit stems from financial activities. However, the profit from financial activities decreased with 8 bn. ISK compared to 2006 and 17 bn. ISK compared to 2005.
The Financial Supervisory Authority (FME) has issued Guidelines on Best Practices for Managing Liquidity in Financial Undertakings. The guidelines apply to both parent companies and consolidated financial institutions as applicable.
The FME has processed figures showing defaults by borrowers of depository institutions at the end of the 1st quarter of fiscal year 2008 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. The default figures are total figures, i.e. stock of specific provisions has not been subtracted. This analysis presents the development of these default rates from year-end 2000. The data compiled does not include the subsidiaries of the banks.
The FME has processed figures showing defaults by borrowers of depository institutions at the end of the 4th quarter of fiscal year 2007 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. The default figures are total figures, i.e. stock of specific provisions has not been subtracted. This analysis presents the development of these default rates from year-end 2000. The data compiled does not include the subsidiaries of the deposit institutions.
According to the Act on Securities Transactions no. 108/2007, the Financial Supervisory Authority shall store information made public under the provisions of Chapters VII, VIII and IX by electronic means in a mechanism for central storage.
The four largest commercial banks all pass the regular stress test of the Icelandic Supervisory Authority (FME).
"The foundations of the Icelandic commercial banks are sound and the Icelandic financial market is well equipped to weather the storm that is now shaking the international markets". This was the conclusion the director of the Iceland Financial Supervisory Authority, Mr. Jónas Fr. Jónsson at a meeting organized by Icelandic Investor Relation Association this morning. He furthermore stated that he could to a large extent agree with analysts from Credit Sights recently saying that the CDS spreads for the Icelandic banks did not give an accurate picture of their true standing, and that the risk associated with them has been exaggerated.
OMX, a leading expert in the exchange industry, has signed an agreement with the lcelandic Financial Supervisory Authority on providing them with software for the Officially Appointed Mechanism (OAM) for the central storage of regulated information in Iceland. OMX Nordic Exchange Iceland will service the OAM responding to the objectives of the European Union's Transparency Directive. All regulated information published by issuers of securities , as prescribed by law, will be archived in the central storage, which will go live February 1st 2008.
The Guernsey Financial Services Commission (GFSC) visited The Financial Supervisory Authority, Iceland (FME) in Reykjavík 7 and 8 January 2008.