23 July 2020

Minutes of the Financial Stability Committee meeting in June 2020

The minutes of the Central Bank of Iceland Financial Stability Committee’s (FSN) meeting of 22-23 June 2020 have now been published. At the meeting, the Committee discussed, among other things, financial stability developments and prospects, the economic situation, developments in the domestic financial markets, the position of and risks in the financial system, the financial cycle, the real estate market, powers of resolution, and support loans. The FSN decided to hold the countercyclical capital buffer unchanged in accordance with its announcement of 18 March. Part of the meeting was a joint meeting of the Financial Stability Committee and the Monetary Policy Committee, as was mentioned in a joint statement issued on 24 June. At the joint meeting, the Committees agreed that the Central Bank should implement a special temporary collateralised loan framework to finance support loans bearing a 100% Treasury guarantee.

The minutes of the FSN meeting of 22-23 June 2020

Above is a photo of the FSN and its secretary, as well as a representative from the Ministry of Finance and Economic Affairs. Committee members are below, from left: Rannveig Sigurdardóttir, Deputy Governor; Ásgeir Jónsson, Governor and Committee Chair; Gunnar Jakobsson, Deputy Governor and Vice-Chair; and Unnur Gunnarsdóttir, Deputy Governor. Above, from left, are: Eggert Þröstur Þórarinsson, Secretary; Tómas Brynjólfsson, representative from the Ministry of Finance and Economic Affairs; and external Committee members Bryndís Ásbjarnardóttir, Gudmundur Kr. Tómasson, and Axel Hall.

Further information about the Committee can be found here.