| 6 savings banks request assistance |
| Saturday, 21 March 2009 17:39 |
 The financial ministry has received requests from 6 savings banks where they request government contribution. It says in the announcement that all operations of SPRON and the savings banks are heading to be moved to other financial institutions it may be expected that the problems on the Icelandic financial market is about to end. "According to regulations issued on December 17th 2008 about contributions of the government to saving banks has the financial ministry now received the applications of Sparisjodur Nordfjardar, Sparisjodur Keflavikur, Sparisjodur Vestmannaeyja, Sparisjodur Svarfdaela, Sparisjodur Bolungarvikur and Byr Sparisjodur. The regulations say that the applications are to go to the discussions at the financial ministry and the central bank of Iceland. The plans are to speed up the process of these applications and the following will be as the guiding light: The most various options of the consumers insured in the financial services. That the financial service will be offered everywhere around the country. That arrangements will be met in the operations of the savings banks. That the sociological part of the savings funds will be insured," as says in the announcement from the financial ministry. Now it leads to that the operations of SPRON and the savings banks will be moved into other financial institutions it may be expected that the problems on the Icelandic financial market is about to end. When the process of the applications from the banks will be over and the issuing of the loans from the national teasury to other financial companies in relations of the reverse trades it is the convincement of the government that here will be no further shut downs of Icelandic bank institutions, according to the announcement. News Article by noname Translated by Anya Original Article in Icelandic
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