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

J) the supervision of a Savings Banks Inspector, there are no regulations as to how they may or may not invest their funds. Other financial institutions require a special authorization by law in order to carry on savings banks business. Séfnunarsjédur Islands (a special kind of Savings Bank) was esta- blished in 1885, while its laws and regulations were embodied in an Act of Althingi dating from 1888. The Séfnunarsiédur is divided into four departments, viz: I. The Head Department (Afaldeild} receives deposits on condition that they shall never be wilhdrawn. Only the ownership of the in- terest on such deposits can therefore change hands. The Paying-out Department (Uthorgunardeild) receives deposits which may be withdrawn together with the interest payable on them at any time after they have stood there for 15 years. The Equipment Department (Biistofnsdeild) receives deposits from persons under 20 years of age, and pays the capital back to them with interest when they have reached their 25th birthday. The Old-Age Pension Department (Ellistyrktardeild) receives de- posits from persons under 60 years of age, paying the amounts back to them with interest after they have completed their 65th year. The board of directors consists of three members, a manager, ap- pointed by the United Althingi, and 2 controlling directors, one ap- sointed by either House. On the 31st of December 1928 the assets of the Séfnunarsjédur amounted to 2273518 krénur, of which 2 147327 krénur were repre- sented by mortgage bonds, i. e. loans granted on first mortgage on real property. — On the same date its liabilities were: 3 Deposits in the Head Department . 1994 164 krénur Deposits in the other Departments . 148063 — Unpaid interest on deposits etc. . 14710 — Qoagserve fund . . . 116 572 INSURANCE Marine Insurance. When Samibyrgd [slands 4 fiskiskipum (The Mutual Insurance of Icelandic Fishing Vessels) was established in 1909, Iceland did not possess any marine insurance companies of native origin. The Samébyrgd began its operations in 1910, and is a mutual company with a sphere of activities covering the insurance of all kinds of fishing vessels and boats including their catch and gear. In 1929 the company’s premiums totalled 219390 krénur.

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