Correction: The following corrections were made in the comparison table :
Balance sheet -31-12-2006 was corrected, in former table the numbers applied
to 30-06-2006 “Trading assets/market securities” 31-12-2005 was corrected
“Total asset” 31-12-2004 was corrected
The Condensed Interim Accounts for the period 1 January to 30 June 2007 were
approved and signed by the Board of Directors of the Housing Financing Fund at
it's meeting yesterday 23 August 2007. The Accounts have been prepared in
accordance with International Financial Reporting Standards (IFRSs) for interim
accounts. These are the Fund's first IFRS Condensed Interim Accounts. The
transition to IFRSs resulted in an increase of equity of ISK 1,286 million as
at the transition date 1 January 2007. Further explanation regarding the impact
of transition to IFRSs is provided in note 11.
According to the income statement, the net profit of the Fund amounted to ISK
2,816 million for the six months ended 30 June 2007. Equity, accounting to the
balance sheet, amounted to ISK 20,477 million at the end of the period. The
capital ratio of the Fund, calculated according to stipulations in the Rules of
the Housing Financing Fund no. 344/2006, was 7,5%. The calculation of the ratio
is equivalent to the calculation of the capital ratio of financial
institutions. The long-term goal of the Fund is to keep the ratio above 5.0%.
For further information please phone Guðmundur Bjarnason, Jóhann G. Jóhannsson
or Ásta H. Bragadóttir and the number is +354 569 6900.
