The Central Bank of Iceland and the Financial Supervisory Authority are merging at year end
On 20 June this year, Althingi passed a new Central Bank Act to merge the Central Bank of Iceland and the Financial Supervisory Authority into one institution as of the beginning of next year. The Act makes no changes to the tasks entrusted to these two institutions. It describes the integration of tasks within one institution, its governance and its decision-making arrangements, in particular in light of the increasing importance of financial stability.
The Prime Minister’s Office published a report on the merger when the Act was adopted reviewing the main points.