Dutch and Icelandic understanding on IceSave

After constructive deliberations, the Dutch and Icelandic governments have agreed on a solution regarding the Dutch depositors of Landsbanki IceSave savings accounts.

This was announced by the Dutch minister of Finance, Wouter J. Bos and the Icelandic minister of Finance, Arni M. Mathiesen.

Both ministers are pleased that they have found a solution on the matter. Minister Bos said that he is especially glad that there is now clarity for the Dutch depositors. Minister Mathiesen added what mattered is that the issue is now solved.

The agreement states that the Icelandic government will compensate each Dutch depositor up to a maximum of 20.887 euro. The Dutch government will provide a loan to Iceland to enable this restitution and the Dutch Central Bank is to settle the depositors’ claims.

Reykjavik, 11 October 2008