This report is about the Danish Financial Supervisory Authority's activities in relation to Roskilde Bank A/S. In July 2008, Roskilde Bank made considerable write-downs creating an acute requirement for liquidity. The National Bank of Denmark issued a liquidity guarantee to the bank and at the same time the government guaranteed to cover any losses incurred by the National Bank of Denmark. The government guarantee was since extended to cover also losses incurred in connection with the National Bank of Denmark's take-over and liquidation of Roskilde Bank.
In this study, Rigsrevisionen has assessed the Financial Supervisory Authority's activities in relation to Roskilde Bank A/S including whether the Financial Supervisory Authority knew about the problems facing the bank. Rigsrevisionen has examined the basis for the Financial Supervisory Authority's supervision of financial services companies including the planning and implementation of the supervisory activities. Also the scope of the Financial Supervisory Authority's measures taken against Roskilde Bank A/S are being assessed in the report.
The report was initiated at the request of the Public Accounts Committee.