Banks of Iceland - Icesave Dispute, History of Landsbanki, Kaupthing Bank, Exista, Glitnir, Straumur Investment Bank, Sparisjooabanki (Paperback)

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 23. Chapters: Icesave dispute, History of Landsbanki, Kaupthing Bank, Exista, Glitnir, Straumur Investment Bank, Sparisjooabanki, Saga Investment Bank, Askar Capital, List of banks in Iceland, Central Bank of Iceland, Islandsbanki, Arion Bank, NBI, Sparisjoour Reykjavikur og nagrennis, MP Bank. Excerpt: The Icesave dispute is a diplomatic dispute that began in 2008 between Iceland on one hand and the United Kingdom and the Netherlands on the other. The dispute is centred on the retail creditors of the privately owned (since 2003) Icelandic bank Landsbanki, which offered online savings accounts under the "Icesave" brand. The bank was placed into receivership by the Icelandic Financial Supervisory Authority (FME) on 7 October 2008. As a result, more than 400,000 depositors with Icesave accounts in the UK and the Netherlands were unable to access their money for at least 6 to 8 weeks, while waiting for payout from the Deposit Guarantee Schemes in these countries. Much of the public controversy arose around the UK's use of the "anti-terrorism legislation" against Iceland. Icesave was an online savings account brand owned and operated by the private Landsbanki bank from 2006-2008 that offered savings accounts. It operated in two countries - the United Kingdom (since October 2006) and the Netherlands (since May 2008). However, Landsbanki's 2007 annual report stated there were intentions to roll the brand out to additional territories throughout 2008 and 2009. In the UK, Icesave's marketing slogan was "clear difference," and it offered three types of savings account: an immediate-access savings account, a cash ISA (Individual Savings Account), and a range of fixed-rate bonds. Interest rates on these accounts were over 6%. At the time of Landsbanki's collapse, the bank had over 300,000 Icesave customers in the UK, with deposits of over ...