The Central Bank of Iceland now owns 73 percent of the Sjova insurance company, it was revealed in parliament today. Read the full story

The Icelandic parliamentary committee looking into the recent bank crisis report has decided to forward specific feedback to the state prosecutor regarding public officials the report describes as incompetent. The move could potentially lead to criminal trials. Read the full story

The Central Bank of Iceland, on behalf of itself and the National Treasury of Iceland, has concluded an agreement with the Banque centrale du Luxembourg (BCL) and the liquidator of Landsbanki Luxembourg S.A., concerning the purchase of 98% of outstanding Avens B.V. bonds. Read the full story

Before the end of March 2008, the Central Bank of Iceland reached an loan agreement with the Bank for International Settlements (BIS) in Basel. The lending line was for USD 500 million. But the Icelandic central bank lost the funding because its staff forgot to extend the agreement – which they had to do by the end of April the same year. Read the full story

In April 2008, the then-head of the Central Bank of Iceland, David Oddsson sent a formal request to his counterpart at the Bank of England, Mervyn King, to implement a currency swap agreement between the two countries, Althingi’s new collapse report states. The request was rejected. Read the full story

The Monetary Policy Committee (MPC) has voted to lower Central Bank interest rates by 0.5 percentage points. The deposit rate (current account rate) will be lowered to 8%. The maximum bid rate for 28-day certificates of deposit (CDs) will be 9.25%. The seven-day collateral lending rate will be 9.5% and the overnight lending rate 11%. (Central Bank press release)

Iceland’s National Audit Office sent out a statement yesterday saying that questions surrounding the Central Bank of Iceland’s lending to financial institutions last year remain unanswered and should be directed to the Althingi Parliamentary Investigation Committee. Read the full story

Press statement from the CBI: The Monetary Policy Committee (MPC) has voted to change Central Bank interest rates as follows. The deposit rate (current account rate) will be lowered by 0.5 percentage points to 8.5%. The Central Bank will continue to issue 28-day certificates of deposit (CDs) with a maximum bid rate of 9.75%, which is 0.5 percentage points lower than before. The seven-day collateral lending rate will be lowered by 1 percentage point to 10%, and the overnight lending rate will be lowered by 1.5 percentage points to 11.5%. Read the full story

Mar Gudmundsson, Chairman of the Central Bank of Iceland has confirmed that a portion of the promised loan to Iceland from the Scandinavian countries will be requested before the beginning of December and will hopefully be received before Christmas. Read the full story

The Monetary Policy Committee (MPC) has voted to lower the deposit rate (current account rate) by 0.5 percentage points to 9%. The maximum volume at weekly auctions of 28-day certificates of deposit (CDs) will be increased from 25 b.kr. to 30 b.kr., with a minimum bid rate of 9.5% and a maximum of 10.25%. This implies a 0.25 percentage point increase in the maximum interest rate. The seven-day collateral lending rate will be lowered from 12% to 11% and the overnight lending rate from 14.5% to 13%.

(Press release)