26.4.2010 : New financial undertakings take over the operations of Byr Savings Bank and Keflavik Savings Bank

The boards of directors of Byr Savings Bank and Keflavik Savings Bank have submitted a request for the Financial Supervisory Authority (FME) to take over the operations of the two savings banks after negotiations with creditors proved unsuccessful. The decisions posted by the FME on the disposal of the assets and liabilities of the savings banks reveal that Byr Savings Bank's deposits have been transferred to a new commercial bank, Byr hf., and the deposits held by Keflavik Savings Bank have been transferred to a new savings bank, Spkef Savings Bank. Both these financial undertakings have already been formally established and are wholly owned by the State.




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