In regards of the responsible authority for the monitoring and control of financial activities performed by the Icesave bank, it was however later established this had always been the sole responsibility of the Icelandic Financial Supervisory Authority (FME) with the minimum deposit guarantees also to be covered by the Icelandic Depositors' and Investors' Guarantee Fund, because the Icesave bank had been established as a foreign branch by the Icelandic "Landsbanki". The foreign authorities would only have had the responsibility to monitor and control the Icesave bank, if it had been established as an independent UK/Dutch subsidiary being fully owned by "Landsbanki". Thus it was only the Icelandic authorities having a legal responsibility in the case, and this fact alone emphasized the need for a solution about the payment of minimum deposit guarantees to the Dutch and British Icesave account holders, either to be reached with the Icelandic state or the Icelandic Depositors' and Investors' Guarantee Fund.