Hlutfallinu

Hlutfallinu, also known as the Icelandic Financial Supervisory Authority, is the primary financial regulatory body in Iceland. Established in 2008, it succeeded the Financial Supervisory Authority of Iceland (FME), which had been in operation since 1998. Hlutfallinu's primary mandate is to ensure the stability and integrity of the Icelandic financial system, as well as to promote the interests of depositors and other financial stakeholders.

The authority is responsible for supervising banks, insurance companies, and other financial institutions. It sets and enforces regulations, conducts inspections, and oversees the resolution of financial distress. Hlutfallinu also plays a crucial role in the development and implementation of financial policies, working closely with the Icelandic government and other regulatory bodies.

One of the most significant events in Hlutfallinu's history was the 2008 financial crisis, which led to the collapse of several Icelandic banks. In response, the authority implemented a range of measures to stabilize the financial system, including the establishment of the Icelandic Financial Stability Fund and the resolution of the failed banks. These actions helped to restore confidence in the Icelandic financial sector and laid the groundwork for its subsequent recovery.

Hlutfallinu is headquartered in Reykjavik and is composed of a board of directors and a staff of regulatory experts. The authority is independent and operates with a strong focus on transparency, accountability, and the protection of financial consumers. It is committed to maintaining the highest standards of financial regulation and ensuring the long-term stability of the Icelandic financial system.