No decision on Iceland central bank merger

SeðlabankinnGylfi Magnusson, Icelandic Minister for Economic Affairs says it has yet to be decided whether the country’s financial regulator (FME) and the Central Bank of Iceland will be merged.

It is now seven months since the former head of Finland’s financial regulatory authority advised Iceland to merge the two institutions.

The document from Kaarlo Jannari advised the Icelandic government to merge the FME and the Central Bank, or at least to bring them both under the same ministry. The document was made public six months ago, according to RUV.

While there is no word yet on whether they will be merged; the two institutions have already been united under the same government ministry.

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