Iceland and the International Monetary Fund was to stem capital outflows, to restore confidence in the Icelandic economy and to thus stabilize the Icelandic Krona (ISK) 2008–2011 Icelandic financial crisis. Measures adopted by Iceland included an emergency nationalization of the failing banks, a vote of the Icelandic parliament gave the FME (Icelandic Financial Supervisory Authority) broad authority over the insolvent banks. FME proceeded to audit these banks and to split their assets. Measures were also introduced to increase the minimum capital adequacy ratio of the banks to 10% as a part of the effort to re establish confidence in the economy. As a part of these
Iceland Crisis Response Unit Iceland Crisis Response Unit The Iceland Crisis Response Unit (ICRU) or "Íslenska Friðargæslan", is an Icelandic para-military unit with a capacity roster of up to 200 people, of whom about 30 are active at any given time. It is operated by the Icelandic Ministry of Foreign Affairs. It is primarily designated for peacekeeping operations and was established in the 1990s to participate in operations and peacekeeping projects, including in support of NATO peacekeeping operations. That role later evolved into providing an appropriate forum for deploying personnel within other organizations such as with OSCE field missions as well as with UN