Global financial crisis in October 2008 while Kaupthing was subjected to a rescue plan. On October 6, the Icelandic Financial Supervisory Authority decided temporarily to suspend from trading on regulated markets all financial instruments issued by Glitnir banki hf., Kaupþing banki hf., Landsbanki Íslands hf., Straumur-Burðarás fjárfestingarbanki hf., Spron hf., and Exista hf. Before the opening of the business day, October 6. BNP Paribas, the French bank, assumed control of the remaining assets of Fortis following Dutch nationalization of the operations of the bank in The Netherlands. Denmark, Austria, and possibly Germany, joined Ireland and Greece in guaranteeing bank deposits on Monday, October 6. Following this,
Global financial crisis in 2009 than 50% from its October 2007 peak. The decline has been compared to that of the 1929 Great Depression, which was 53% between September 1929 and March 1931. On March 6, the Bank of England announced up to 150 billion pounds of quantitative easing, increasing the risk of inflation. In March 2009, Blackstone Group CEO Stephen Schwarzman said that up to 45% of global wealth had been destroyed by the global financial crisis. By March 9, 2009, the Dow had fallen to 6440, a percentage decline exceeding the pace of the market's fall during the Great Depression and a level