There goes Straumur. The last independent Icelandic bank has fallen. This can be read on their website:
In spite of its strong capital position and the support of funding banks Straumur Burdaras Investment bank hf. (Straumur) believes that its liquidity position is no longer strong enough to sustain its activities. The Icelandic Financial Supervisory Authority (IFSA) has therefore decided to assume the powers of a meeting of the shareholders of Straumur and immediately suspend the Board in its entirety. Further, the IFSA hereby appoints a Resolution Committee, which will take over all authority of the Board of Directors.
Too late for those people who need some cash today in Reykjavik
As a result of this Straumur is closed.
The good news is that all deposits are fully secured.
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In spite of its strong capital position and the support of funding banks Straumur Burdaras Investment bank hf. (Straumur) believes that its liquidity position is no longer strong enough to sustain its activities. The Icelandic Financial Supervisory Authority (IFSA) has therefore decided to assume the powers of a meeting of the shareholders of Straumur and immediately suspend the Board in its entirety. Further, the IFSA hereby appoints a Resolution Committee, which will take over all authority of the Board of Directors.
Too late for those people who need some cash today in Reykjavik
As a result of this Straumur is closed.
The good news is that all deposits are fully secured.
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