Iceland 1930

Bibliographic data

Monograph

Identifikator:: 1830571079

URN:: urn:nbn:de:zbw-retromon-221162

Document type:: Monograph

Title:: Iceland 1930

Edition:: 2. ed.

Place of publication:: Reykjavík

Publisher:: Ríkisprentsmiđjan Gutenberg

Year of publication:: 1930

Scope:: 193 S.; Tab., Kt., Taf.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Financial institutions

Collection:: Economics Books

10 (The Bank of Iceland) was established by law of 1903, and commenced ils activities two years later. For a term of 30 years it was granted the sole right of issue in Iceland in excess of the 3/4 million krénur which the National Bank of Iceland was entitled to issue on behalf of the treasury. This right was retained by f[slandsbanki for a period of 19 years (1904—1922). But in 1921 it was enacted by law that its note-issuing privilege should lapse in 1933, and its note circulation be reduced by fixed annual amounts. When [slandsbanki was taken over by Otvegsbanki Islands the circulation had come down to 4 million krénur. This amount is (according to the act under which Ut- vegsbanki fslands is founded) to be withdrawn at once and the sole right of issue handed over to the National Bank. But while [slandsbanki was thus withdrawing its notes the National Bank was by law ob- liged to re-discount for it sound commercial bills on certain specified terms, to an amount not exceeding 5 million krénur. The amount for which the National Bank was legally bound to re-discount bills should, however, be annually reduced until it was entirely discontinued. The special terms thus enjoyed by [slandsbanki are now transferred to Utvegsbanki fslands. According to the Balance Sheet the assets and liabilities of [slands- banki on 31. December 1928 were as follows: Gold . . . . . . Bonds & Stocks . . Loans . . . . . . . . . .. Bills of Exchange kr. 24 632 680.88 less Net Profit — 583 003.16 Kr. 24 049 677.72 less estimated loss according to Bank Inspec- tor’s estimate . — 1014 982.62 23 034 695.10 To balance (see Bills of Exchange) 1014 982.62 Banking Correspondents . , , 261 208.18 Foreign Currency . . . . . , — 7 184.93 Bank Premises and other real Estate — 2 034 809.09 Cash in Hand . . . . — 451 882.55 Kr. 38 774 962.51 Assets, . . kr. 1 878 049.65 2 535 831.07 7 556 319.32 Capital Paid up . . . . . Notes in Circulation . . , Bank Bonds . . . . . . Liabilities, . . kr. 4500 000.00 . - 4811 000.00 «0 o—- 706 000.00 Kr. 10 170 000.00No full text available for this image

Access restriction

Copyright

fullscreen: Iceland 1930

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation