FACTBOX - Iceland in crisis

(Reuters) - Iceland took control on Thursday of its biggest bank, Kaupthing, to try to shore up a teetering banking system.

Here are some facts about Iceland:

* THE FINANCIAL CRISIS:

-- Iceland, whose prime minister warned of "national bankruptcy" has now seized control of three of the nation's major banks. Landsbanki, its second largest bank by value, and Glitnir were taken over earlier this week.

-- On Monday the crown dropped as much as 30 percent against the euro and Iceland adopted sweeping powers late on Monday that gave the state the ability to dictate banking operations and allow it to push through mergers or even force a bank to declare bankruptcy. Reykjavik announced the next day that Russia may provide the stricken state with a loan. Negotiations to secure a possible 4 billion euro (3.2 billion pounds) loan will begin next Tuesday.

-- The small country's financial stature had swelled in recent years as its banks expanded rapidly overseas. Investors took large positions in its high-yielding currency and foreign firms and individuals poured money into local projects.

* THE COUNTRY - SOME DETAILS:

CAPITAL - Reykjavik

POPULATION - 304,000 (2008 estimates)