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Bank Services: Overseas Residence

Volume 482: debated on Wednesday 5 November 2008

To ask the Chancellor of the Exchequer whether British citizens resident in the UK with deposits in Kaupthing, Singer and Friedlander bank held in the Isle of Man will be included in his compensation scheme; and if he will make a statement. (227451)

[holding answer 16 October 2008]: Arrangements for depositors in banks in the Isle of Man are a matter for the Government of the Isle of Man.

Deposits with Kaupthing, Singer and Friedlander, Isle of Man, will be subject to the Isle of Man Deposit Compensation Scheme.

In line with usual constitutional arrangements, the Government will represent the Crown Dependencies in its negotiations with the Icelandic Authorities.