Nordic Baltic Crisis Simulation Exercise, 2024
To test the preparedness for a potential crisis situation, authorities from the Nordic-Baltic countries responsible for financial stability during this week conducted a financial crisis simulation exercise in the Nordic-Baltic region, involving three fictitious banks with cross-border activities.
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Adjusted figures on the current account and international investment position
The current account figures published on 3 September 2024 have been corrected.
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The Central Bank of Iceland launches a feasibility assessment on implementing Eurosystem’s TARGET Services for payments
The Central Bank of Iceland (CBI) has begun analysing and assessing the possibility of implementing the Eurosystem’s TARGET Services, specifically the TARGET Instant Payment Settlement (TIPS) and T2 interbank payment services. TIPS is an instant payment system, while T2 is a system for real-time gross settlement (RTGS) and central liquidity management (CLM). The Central Bank will focus first on TIPS and then follow with T2.
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Minutes of the Monetary Policy Committee meeting of 19-20 August 2024
In accordance with the Monetary Policy Committee Rules of Procedure, the minutes of the Committee's most recent meeting have been published on the Bank's website. The minutes are published two weeks after the announcement of the Committee‘s decision. Accordingly, we have now published the minutes from the meeting of 19-20 August 2024, during which the Committee discussed economic and financial market developments, decisions on the application of the Bank’s monetary policy instruments, and the communication of those decisions on 21 August.
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Current account deficit 30.5 b.kr. in Q2/2024 – net IIP positive by 38.9% of GDP
Iceland’s current account showed a deficit of 30.5 b.kr. in Q2/2024. This represents an improvement of 3.3 b.kr. relative to the previous quarter but a deterioration of 36.6 b.kr. relative to Q2/2023. The net international investment position was positive by 1,705 b.kr., or 38.9% of GDP, and deteriorated by 47 b.kr., or 1.1% of GDP, during the quarter.
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