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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Financial institutions

Collection:: Economics Books

ye Re-discounted Bills . . . . . . Deposits, Current Acc. & other Creditors Bal. . . . Banking Correspondents Rebate on Interest . Unpaid Dividend . Kr. 10 170 000.00 — 3391 257,08 — 20524 293.66 4 481 385.06 353 137.71 7 889.00 Kr. 38 774 962.51 Biinadarbanki Islands (The Rural Bank of Iceland), founded by law of June 14th 1929, commenced activities this year (1930). The scope of this bank is to support farming and facilitate the financial trans- actions of those who are engaged in productive farming operations. The bank is an independent State-owned institution, the national treasury being liable for all its engagements. It operates through the following six financially separate departments: |. Sparisjéds- og rvekstrariinadeild (Savings Bank and Loan Of- fice), where almost every kind of general banking and savings banks business is transacted. The government is authorized to gua- rantee a loan of up to 3 million krénur for this department. Veddeild (Hypothec-Mortgage Department) which issues bonds in series, backed by mortgage bonds received from borrowers, be- sides various other securities of special nature. This department chiefly grants loans on security of mortgages in landed property, to be used for productive farming operations either for the benefit of individual farmers or whole districts conjointly. The government is empowered to negotiate a foreign loan not exceeding 2 million krénur for the purpose of buving bonds issued bv the depart- ment. Buistotnslanadeild (Live-Stock Loan Department). This department issues bonds, each series of which must be closed within 5 years from the date of issue and the redemption of the whole series completed within 15 years from the same date. These bonds, to the amount of 700 000 krénur, are backed by the treasury, either with Viblagasjéds bonds or other securities equally sound. This department grants loans to farmers and other persons engaged in live-stock rearing, both for the purpose of stocking their farms and buying additional stock as well as agricultural and farming im- plements. Raktunarsjédur (Agricultural Fund) was established by law of 1925, its object being to promote agriculture and contribute to the im-

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