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,
Financial services in the Republic of Ireland financial derivatives: for example, if a company enters into a transaction outside of its objects in its memorandum and articles of association, the transaction may be void and unenforceable as "ultra vires". Netting and set-off are fully enforcable in Ireland (see the Netting of Financial Contracts Act 1995). There are few decided cases relating to financial derivatives in the Irish courts but decisions in the courts of England and Wales would be of persuasive authority. Regulation of the financial derivatives industry is the responsibility of the Central Bank. The central piece of legislation effecting the sale of financial derivatives is