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Askar Capital
Askar Capital was an investment bank in Iceland (2007–2010) offering advisory services related to investments in alternative financial products. The bank was established at the beginning of 2007 after a series of mergers, building on its history from 1993 as a financial advisor. The specialities of Askar Capital were corporate finance, real estate investments and debt management. As an authorized Investment Bank, Askar Capital was regulated by the Financial Supervisory Authority, headquartered in Reykjavik. The bank was heavily affected by the collapse of the major Icelandic banks in October 2008. The company carried on but eventually filed for bankruptcy on July 14, 2010. History In 2007 Askar Capital, part of the Milestone Nordic Financial Group, was granted a license to operate as an investment bank. The firm provided a range of complementary financial services in three units, Capital Markets, Real Estate Investment Advisory and Avant Asset Financing, a wholly owned subsidia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Supervisory Authority (Iceland)
The Financial Supervisory Authority ( is, Fjármálaeftirlitið (FME)) is the single supervisory authority for the financial sector in Iceland. Companies regulated by the authority are commercial banks, savings banks, insurance companies, insurance brokers, credit institutions (investment banks and credit card companies), securities firms, securities brokers, mutual funds and pension funds management companies and other entities authorized to receive deposits. The current CEO is Ms. Unnur Gunnarsdóttir, who succeeded the controversial Gunnar T. Andersen in March 2012. Deputy CEO Ragnar Haflidason succeeded Jónas Fr Jónsson in October 2008 and Gunnar T Andersen took over as CEO in April 2009. The first CEO was Pall Gunnar Palsson, who directed from 1999 to 2005. History The FME was established in 1999, under the authority of two acts of legislation, act number 87/1998 on the Official Supervision of Financial Operations and act number 99/1999 on the Payment of Cost Due to the Off ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008–2011 Icelandic Financial Crisis
The Icelandic financial crisis was a major economic and political event in Iceland that involved the default of all three of the country's major privately owned commercial banks in late 2008, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom. Relative to the size of its economy, Iceland's systemic banking collapse was the largest experienced by any country in economic history. The crisis led to a severe economic slump in 2008–2010 and significant political unrest. In the years preceding the crisis, three Icelandic banks, Kaupthing, Landsbanki and Glitnir, multiplied in size. This expansion was driven by ready access to credit in international financial markets, in particular money markets. As the financial crisis of 2007–2008 unfolded, investors perceived the Icelandic banks to be increasingly risky. Trust in the banks gradually faded, leading to a sharp depreciation of the Icelandic króna ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Icelandic Banks
The following is a list of banks in Iceland. Contemporary banks Central * Central Bank of Iceland Commercial * Arion Bank (formerly known as ''New Kaupthing'') * Íslandsbanki (formerly known as ''New Glitnir'') * Landsbankinn (formerly known as ''New Landsbanki'') * Kvika banki Investment * Kvika banki * Defunct banks * Askar Capital (privately owned) * Búnaðarbanki (merged with Kaupthing, became KB Bank and later Kaupthing Bank) * Glitnir (previously government-owned, privatized, went back into government hands during the Icelandic financial crisis) * Iðnaðarbanki (merged with Útvegsbanki, Alþýðubanki, Verzlunarbanki and Samvinnubanki) * Íslandsbanki (First Íslandsbanki was founded in 1904, went bankrupt during the Great Depression. Second Íslandsbanki came into existence when the government owned banks Útvegsbanki, Samvinnubanki, Iðnaðarbanki and Verslunarbanki merged. Íslandsbanki was later re-branded as Glitnir Bank, which was taken into go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milestone Nordic Financial Group
A milestone is a numbered marker placed on a route such as a road, railway line, canal or boundary. They can indicate the distance to towns, cities, and other places or landmarks; or they can give their position on the route relative to some datum location. On roads they are typically located at the side or in a median or central reservation. They are alternatively known as mile markers, mileposts or mile posts (sometimes abbreviated MPs). A "kilometric point" is a term used in metricated areas, where distances are commonly measured in kilometres instead of miles. "Distance marker" is a generic unit-agnostic term. Milestones are installed to provide linear referencing points along the road. This can be used to reassure travellers that the proper path is being followed, and to indicate either distance travelled or the remaining distance to a destination. Such references are also used by maintenance engineers and emergency services to direct them to specific points where th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Avant Asset Financing
AVANT, also known as AVANT street art guerrilla collective, was the artist group active in New York City from 1980 to 1984. By 1984 AVANT had produced thousands of acrylic on paper paintings and plastered them on walls, doors, bus-stops and galleries citywide. Principal artists were Christopher Hart Chambers, David Fried, and Marc Thorne. AVANT was a group of five young New York artists working collectively who wheat pasted handmade original poster sized works of non-calligraphic art in the streets of NYC. While the members of Avant assert that they began in the winter of 1980, the earliest available press documentation of their street art or art exhibitions is found in the New York Native from June 1982, wherein a later article published in the Villager places their origins at January 1981. By 1984 avant had produced thousands of acrylic on paper paintings and plastered them on walls, doors, bus-stops, galleries and museums citywide, concentrated mostly in lower Manhattan. As a gr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structured Investment Vehicles
A structured investment vehicle (SIV) is a non-bank financial institution established to earn a credit spread between the longer-term assets held in its portfolio and the shorter-term liabilities it issues. They are simple credit spread lenders, frequently "lending" by investing in securitizations, but also by investing in corporate bonds and funding by issuing commercial paper and medium term notes, which were usually rated AAA until the onset of the financial crisis. They did not expose themselves to either interest rate or currency risk and typically held asset to maturity. SIVs differ from asset-backed securities and collateralized debt obligations (CDOs) in that they are permanently capitalized and have an active management team. They are generally established as offshore companies and so avoid paying tax and escape the regulation that banks and finance companies are normally subject to. In addition, until changes in regulations around 2008, they could often be ke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Iceland
The Supreme Court of Iceland (, lit. ''Highest Court of Iceland'') is the final court of appeal in the judiciary of Iceland. It is also the oldest of the current courts of law in Iceland and the highest of the three Icelandic court branches, the others being the District Courts of Iceland and the Court of Appeal (Landsréttur). Notwithstanding the Court not being mentioned by name in the Constitution of Iceland, but only its justices, it is validated in the Courts Act No. 50/2016. The Supreme Court of Iceland is located at the Dómhúsið (Courthouse) at Arnarhóll in Reykjavík, a building that was specially built for that purpose and that came into use in 1996. The current President of the court is Benedikt Bogason. History The court was founded under the Supreme Court Act of 1919 and held its first session on 16 February 1920. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
