11 March 2024

Minutes of the Financial Stability Committee meeting in February 2024

The Financial Stability Committee

The minutes of the Central Bank of Iceland Financial Stability Committee’s (FSN) meeting held on 21 February 2024 have been published. At the meeting, the Committee discussed the extraordinary circumstances prevailing in the town of Grindavík, as residency in the town was prohibited due to the ongoing volcanic activity in the area.

The Committee decided that, for individuals who owned residential property in Grindavík on 10 November 2023, the maximum debt service-to-income (DSTI) ratio be set at 40% and the maximum loan-to-value (LTV) ratio at 85% in connection with their next home purchase.

For further information, see: Minutes of the Financial Stability Committee meeting. February 2024 (20th meeting) Published 11 March 2024