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
Settlement of Iceland cattle to die—he cursed this cold country, and when he spotted a drift ice in the fjord he decided to name it "Ísland" (Iceland). Despite difficulties in finding food, he and his men stayed another year, this time in Borgarfjörður, but they headed back to Norway the following summer. Flóki would return much later and settle in what is now known as Flókadalur. Another Norseman, by the name of Ingólfur Arnarson, had instigated a blood feud in his homeland, Norway. He and his foster-brother Hjörleifur went on an exploratory expedition to Iceland, and stayed over winter in what is now