MADRID (S&P Global Ratings) Oct. 23, 2019--The intergovernmental body Financial Action Task Force (FATF) announced on Oct. 18, that it has added Iceland to its so-called "grey" list of monitored jurisdictions. The FATF identifies jurisdictions with weak measures to combat money laundering and terrorist financing. S&P Global Ratings does not expect a material impact on the financial status or reputations of Icelandic banks, since the authorities will likely execute pending legislative improvements swiftly. Similarly, we do not expect Iceland's grey-listing to have an impact on the sovereign's creditworthiness (A/Stable/A-1). We understand that Iceland has made progress in multiple areas to strengthen its anti-money laundering and financial crime framework following FATF initial evaluation in February 2018. The remaining issues in FATF's
