From someone at FSA Lux: Surprised about the lack of information

Kaupthing Luxemburg

The financial supervisory administration of Luxemburg is surprised that there was no warning about the situation of the Icelandic banks before their collapse.

“We are surprised to read about it on the internet that a minister in the popular front party says that in April 2008 had the IMF requested that the Icelandic banks would reduce their business and that [David] Oddsson, former chairman of the central bank board, had in February said that the banks in the bank system would collapse in 2008. We had not received any news about this knowledge which seems to have been on the table none the less,” says an employee of the financial supervisory administration, who wants to remain anonymous.

Would have taken actions
He says that it would have mattered to the FSA if they had been warned about the situation of the banks. It is difficult to say afterwards what the reaction would have been, because it is of course easier to be wise afterwards. “If the FSA would have known about the problem, then i would have taken actions to protect the balances of the clients,” he said. Then the FSA could have set restraints on payments from the subsidiary to the parent companies if they knew that they were having operational problems.

“Then it would have also been possible to ask the banks to reduce their loans as well as their weight.” Such actions of the financial supervisory administration would have had more affect when it is possible to put them in effect earlier.

News Article by Gunnhildur Arna Gunnarsdottir

http://newsfrettir.com/?s=kaupthing















Merci M. liboism, je transfère dans presse

rien vu, rien entendu
de là à croire que le Luxembourg est une place financière zombie,...

http://www.paperjam.lu/tribune/2009/01/Tribune_1201_Turquey/index.html