Kaupthing, the Icelandic bank that operates in the UK through its subsidiary Kaupthing Singer and Friedlander, has said its capital markets operations are still operating fully after the UK Treasury moved yesterday to freeze certain Icelandic bank assets in the country.

In a statement from the Icelandic bank yesterday, it said that while Kaupthing Singer & Friedlander Limited - which operates its private and corporate banking, international banking and investment banking businesses - has been placed into administration, Kaupthing Singer & Friedlander Capital Markets Limited remains operational.