Date 09/10/2008
The Riksbank decided yesterday to provide special liquidity assistance with a loan of up to five billion krona to Kaupthing Bank Sverige AB. The loan may be used to pay both depositors with accounts in Kaupthing Bank in Sweden and for Kaupthing Edge, this applies to both depositors and other creditors of Kaupthing Bank Sverige AB.
Kaupthing Bank hf has today announced that Kaupthing Edge is being wound up. All of the money deposited plus interest will be paid to all customers. According to Kaupthing Bank, it is expected to take around one week to pay out all of the money. The money will be paid into the settlement account specified by the customer when he or she began saving in the Internet-based savings account with Kaupthing Edge.
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