Economic Calendar

Tuesday, October 7, 2008

Kaupthing-not approached by govt over intervention

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STOCKHOLM, Oct 7 (Reuters) - Icelandic bank Kaupthing (KAUP.IC: Quote, Profile, Research, Stock Buzz) said on Tuesday it had not been approached by authorities over any intervention, adding it had received a 500 million euro ($679.5 million) from the central bank.

"Kaupthing has not been approached by the Icelandic FSA regarding any intervention in Kaupthing's operations," the bank said in a statement.

Late Monday, Iceland adopted sweeping powers over its battered banks as its financial system tottered and its currency plunged. Kaupthing said it was committed to working with the government to ensure regular workings of the Icelandic financial system.

(Reporting by Niklas Pollard)




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