04. January 2020

First meeting of the Central Bank Financial Supervision Committee

The first meeting of the Financial Supervision Committee was held today at the Central Bank of Iceland. The Financial Supervision Committee takes decisions entrusted to the Financial Supervisory Authority by law and Governmental directives. The Committee’s rules of procedure were approved at today’s meeting.

Members of the Financial Supervision Committee are the Deputy Governor for Financial Supervision, the Deputy Governor for Financial Stability, and three experts in financial market affairs who shall be appointed by the Minister responsible for the financial market for a term of five years. The Deputy Governor for Financial Supervision chairs the Financial Supervision Committee, and the Deputy Governor for Financial Stability serves as vice-chair. The Governor of the Central Bank chairs the Committee when decisions are taken on the adoption of rules of procedure, on entrusting the Deputy Governor for Financial Supervision with taking non-major decisions, and on systemically important financial institutions’ equity, liquidity, and funding. In those instances, the Deputy Governor for Financial Supervision acts as vice-chair.

The enclosed photograph was taken in connection with today’s inaugural Financial Supervision Committee meeting. In the photo (from left to right) are: Ásta Þórarinsdóttir; Andri Fannar Bergþórsson; Unnur Gunnarsdóttir, Deputy Governor for Financial Supervision; Ásgeir Jónsson, Governor; and Guðrún Þorleifsdóttir. The Committee also includes Gunnar Jakobsson, Deputy Governor for Financial Stability, who will join the Bank on 1 March 2020.

Further information can be obtained from Ásgeir Jónsson, Governor of the Central Bank of Iceland, at tel: +354 569-9600.

No. 2/2020
3 January 2020



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