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Central Bank of Iceland

The Central Bank of Iceland (Icelandic: Se??labanki ??slands, pronounced [??s????la??pau??c?? ??istlan(t)s]) is the central bank or reserve bank of Iceland. It is owned by the Icelandic government, and is administered by a governor and a seven-member supervisory board, elected by the country's parliament following each general election. It has the sole right to issue notes and coins of Icelandic kr??nur and to manage the state's foreign currency reserves. History The Central Bank of Iceland was created in 1961 by an act of the Al??ingi out of the central banking department of Landsbanki ??slands, which had been the island's sole bank of issue since 1927 and had conducted only limited monetary policy. The Central Bank Act of 1986 eliminated the ability of the Central Bank to regulate the interest rates of commercial banks and savings...

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wikidata.org 0 views · 2024-12-26 22:53:15

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