Today, Iceland’s Financial Supervisory Authority (FME) announced that, because of “special circumstances,” it has taken control of Straumur-Burdaras Investment Bank hf. The FME stated that “it had become evident that the bank could not insure sufficient funds to meet its obligations” and “that raising the necessary funds for continued operations was not a viable option.” The FME also assured that “all deposits in domestic commercial banks, savings banks and their branches in Iceland are fully guaranteed;” however, unlike the seizures of Kaupthing, Landsbanki and Glitnir, each of which remained open following its seizure, the FME suspended the bank's Board of Directors and appointed a resolution committee. Straumur-Burdaras Investment Bank confirmed the announcement and stated that “[i]n spite of its strong capital position and the support of funding banks Straumur Burdaras Investment bank … believes that its liquidity position is no longer strong enough to sustain its activities.”