IR 
bank is entrusted to a board of governors, consisting of 5 members, 
and a board of directors of 3 members who act as the executive of 
the bank. The committee is composed of 15 members, elected by both 
houses of Althingi for a term of 6 vears. The chairman of the board 
of governors is appointed by the minister in charge of banking matters 
for a term of years, while the remaining four are chosen by the 
committee to serve for 4 years. The board of governors appoint the 
managing directors, while the committee elect two auditors to audit the 
accounts of the bank. 
As the Banking Department of the National Bank is in the course 
of the present year to be divided into two departments: an issue de- 
partment and a savings bank department, the subjoined balance sheet 
on the 31st of December 1928 refers to the banking department as 
at present constituted : 
I. The Banking 
Department. 
Assets. 
Jold Reserves . 
Loans . . , . 
Discounts . . . . , 
3ank Bills discounted 
3onds . . . . . 
Real Estate . . . 
Correspondents . 
Divers Debtors . 
Cash. . . . 
» kr. 559 725.00 
17 460 510.24 
26 349 963.31 
1 505 886.50 
4770 261.85 
2368 812.52 
11 750 364.61 
495 318.22 
408 646.37 
Kr. 65 669 488.62 
> 
se 
5, 
7. 
B. 
J) 
Liabilities: 
Capital Stock 
Notes . . . . 
Government Loan . . , , | — 
British Loan. . . . . . , — 
3ank Bonds . . . . . , . — 
Foreign Bank-Acceptances dis- 
counted . . . . . , , , — 
Deposits . . . . . , , . — 
Hypothec-Mortgage Department 
Correspondents . . . . . 
Mortgages on the Banks Real 
Estate . . . . . . . , 
11. Diverse Creditors . . . , . 
12. Profit & Loss Account , . . 
. kr. 
3 000 000.00 
4 242 000.00 
1806 223.23 
3 544 000.00 
500 000 00 
3346 000.35 
46 544 360.80 
1730620.16 
288 631 45 
211 804.99 
265 270.61 
223577.03 
Kr. 65669 488.62