Banking in Iceland faced a crisis in 2008, which resulted in the government taking over three of its largest commercial banks.
The short-term liabilities of Icelandic banks in proportion to Iceland's GDP are 211%, as of 11 October 2008, or 480% of the country's national debt, and the average leverage ratio (assets/net worth) is 1 to 14.[1]
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Iceland economic crisis short documentary
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How Iceland Defeated Bankers
Transcription
History
Icelandic financial crisis
In 2008, Iceland's three major privately owned commercial banks defaulted.
Major Banks
Central Bank
Major Commercial Banks
Investment Banks
See also
References
- ^ "The World's Banks Could Prove Too Big to Fail — or to Rescue". The New York Times. 11 October 2008. Retrieved 14 August 2016.
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This page was last edited on 17 March 2024, at 23:40