Office of the Deputy Prime Minister - Local Government Finance Statistics - Icelandic Bank Investments
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Local Government Finance Statistics
Icelandic Bank Investments

Available Documents

  • Local authority Icelandic bank investments as at 31 December 2008 (6 April 2009)

    • Statistical Release (Adobe Acrobat - 90kb)
    Annex A: Dataset (MS Excel - 50kb)

    These documents replace the previous version published on 5 March 2009.

    The key points from this release are:

    • A total of £929.2 million was invested by English local authorities in Icelandic banks as at 31 December 2008. This amount was invested by 125 local authorities out of a total of 482 authorities.
    • 39% of the investments were with Landsbanki islands hf, 29% were with Heritable Bank Ltd, 20% with Glitnir Banki hf and 12% with Kaupthing Singer & Friedlander Ltd.
    • 96% of the investments were internally managed while the remaining 4% were externally managed. There were no externally managed funds invested with Heritable Bank Ltd
    • Within the total, £24.6 million was invested on behalf of other local authorities. All these investments were made on behalf of fire or police authorities.
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    Last updated on 6 April 2009
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