The Resource Iceland's Financial Crisis

Iceland's Financial Crisis

Label
Iceland's Financial Crisis
Title
Iceland's Financial Crisis
Contributor
Subject
Language
eng
Summary
On November 19, 2008, Iceland and the International Monetary Fund (IMF) finalized an agreement on a $6 billion economic stabilization program supported by a $2.1 billion loan from the IMF. Following the IMF decision, Denmark, Finland, Norway, and Sweden agreed to provide an additional $2.5 billion. Iceland's banking system had collapsed as a culmination of a series of decisions the banks made that left them highly exposed to disruptions in financial markets. The collapse of the banks also raises questions for U.S. leaders and others about supervising banks that operate across national borders, especially as it becomes increasingly difficult to distinguish the limits of domestic financial markets. Such supervision is important for banks that are headquartered in small economies, but operate across national borders. If such banks become so overexposed in foreign markets that a financial disruption threatens the solvency of the banks, the collapse of the banks can overwhelm domestic credit markets and outstrip the ability of the central bank to serve as the lender of last resort. This report will be updated as warranted by events
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
  • Jackson, James K
  • LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE
http://library.link/vocab/subjectName
  • Iceland
  • Banking
  • Economics
  • Economics and cost analysis
  • Money
  • Finance
  • Domestic
  • Failure
  • International
Target audience
adult
Label
Iceland's Financial Crisis
Instantiates
Publication
Note
Congressional rept
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Dimensions
23 x 29 cm
Extent
7 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)318694418
  • (OCoLC)ocn318694418
Label
Iceland's Financial Crisis
Publication
Note
Congressional rept
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Dimensions
23 x 29 cm
Extent
7 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)318694418
  • (OCoLC)ocn318694418

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