Settlement of Icesave claims
Tryggingarsjóður innstæðueigenda og fjárfesta (TIF) on the one hand and the Dutch Central Bank (DNB) and the British Financial Services Compensation Scheme (FSCS) on the other have reached an agreement on a full and final settlement of the claims resulting from deposits held by Landsbanki Íslands hf. (now LBI hf.) in its respective London and Amsterdam branches under the trademark of Icesave. The agreement entails that TIF paid its UK and Dutch counterparts the sum of 20 billion ISK. The funds were paid from part of the assets available in division B of TIF. Division B holds assets which for the most part were accumulated prior to the fall of the banking system in October 2008. An exemption was granted by the Central Bank of Iceland enabling the necessary payments.
Claim against the Icelandic Guarantee Fund
- TIF has at its disposal approx. ISK 18.2 billion to meet the claim
- No State Guarantee for the TIF
- Dutch and British make claim for future payments received by the Fund
- The DNB and FSCS’s most rigorous claims can be estimated at around thousand billion ISK