Central Bank of Iceland

The Central Bank of Iceland is an independent institution, owned by the Icelandic state. The principal objective of the Central Bank is to promote price stability. The Bank shall also promote financial stability. The Central Bank shall promote the implementation of the Governments economic policy as long as it does not consider this inconsistent with its main objective of price stability. In addition, the Central Bank undertakes standard central banking tasks, such as maintaining external reserves and promoting an efficient and safe financial system, including payment systems domestically and with foreign countries. It is also responsible for the issue of notes and coin, exchange rate matters and other duties, as specified in the Central Bank Act. The Central Bank of Iceland shall accept deposits from commercial banks, savings banks and other deposit institutions. The Central Bank may also accept deposits from other credit institutions. The Central Bank trades in foreign currency...