Press Release – 30 August 2013
Results of the Housing Financing Fund during the first part of 2013.
The 2013 interim financial statements of the Housing Financing Fund (HFF) have been approved by the Fund’s Board of Directors. The operating results of the period were negative to the tune of ISK 2,978 million, compared to ISK 3,109 million in losses during the same period last year. HFF’s equity at the end of the period was ISK 11,720 million, compared to ISK 14,699 million at year-end 2012. At present, the Fund’s equity ratio, calculated according to the provisions of Regulation No. 544/2004 on the Housing Financing Fund, is 2.5%, whereas it was 3.2% at the beginning of the year. The ratio is calculated in the same manner as the equity ratio of financial undertakings. The Fund’s long-term goal is to keep the ratio above 5.0%, and discussions with the authorities are aimed at fulfilling the provisions of the Regulation.