The Financial Supervisory Authority, Iceland, on the 1st of November, pursuant to Article 86(d) of Act No. 161/2002 on Financial Undertakings decided that a CCyB buffer rate of 1.25 per cent shall apply to credit institutions, credit undertakings and other financial undertakings as of 1 November 2017, on an individual and consolidated basis, unless exempt pursuant to the Act on Financial Undertakings.
The Financial Supervisory Authority (FME) Annual Report 2016 is now available in English. The substantial discussion in the Annual Report of the FME for 2016 primarily covers the period from 1 May 2015 until 30 April 2016. The report describes the main tasks of FME and, in particular, tasks of the supervisory divisions: On-site Inspections and Securities, Off-site Supervision, and Oversight. Furthermore, it discusses the situation and developments in the financial market in 2015.
On January 12th 2016 the Financial Supervisory Authority of Iceland, hereinafter referred to as the FME, and BankNordik, hereinafter referred to as the party, entered into a Settlement Agreement due to a violation of Article 126 and Article 127 of Act No. 108/2007 on Securities Transactions, hereinafter the Act.
The Financial Supervisory Authority, Iceland, has today, pursuant to Articles 84(b), (c) and (d) of Act on Financial Undertakings No. 161/2002, decided that credit institutions and credit undertakings shall hold systemic risk buffer (SRB), a capital buffer on other systemically important institutions (O-SII) and countercyclical capital buffer (CCyB).