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 October 2008 October 8, the Central Bank of Iceland abandoned its attempt to peg the Icelandic króna at 131 króna to the euro after trying to set this peg on Monday, October 6. By Thursday October 9, the Icelandic króna was trading at 340 to the euro when the government suspended all trade in the currency. On Thursday, October 9, the Icelandic Financial Supervisory Authority took control of the country's biggest bank Kaupþing banki hf.. This occurred when the Kaupthing Board resigned and asked the national authorities to take control. This came about when "Britain transferred control of the business of Kaupthing