What was the name of Iceland’s 2008 financial crisis, when its major commercial banks collapsed?

Iceland’s 2008 financial crisis is called the Icelandic financial crisis.

The crisis peaked in October 2008, when Iceland’s three largest commercial banks—Glitnir, Landsbanki, and Kaupthing—collapsed or were placed into government control within a short period. Their balance sheets had expanded dramatically during the preceding years, leaving the banks exposed when international credit markets froze after the global financial crisis intensified.

Iceland’s currency, the króna, weakened sharply, and the country imposed temporary capital controls while seeking international assistance. The International Monetary Fund approved a program for Iceland in November 2008. The banking collapse is often grouped with the wider global financial crisis, but it was especially severe relative to Iceland’s small economy. The state later created new domestic banks from parts of the failed institutions.