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Risk and return 

English local authorities and the Icelandic banks
Released  26 March 2009

Summary [Download full report below this summary]

Risk and return report cover

This report examines English local authorities' deposits in the Icelandic banks and their UK subsidiaries. We find that the majority of councils acted properly in managing their investments and were alert to the risks. Authorities halved their investments in Icelandic banks between January and October 2008. However, one in four (127) local authorities share 954 million pounds at risk in Icelandic banks.

 

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