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Banks: Iceland

Volume 488: debated on Monday 2 March 2009

To ask the Chancellor of the Exchequer what recent discussions he has had with the authorities in Iceland on payments to UK depositors in Icelandic banks; what assessment he has made of the position of these depositors in respect of compensation for monies lost; and if he will make a statement. (254757)

To ask the Chancellor of the Exchequer, what recent discussions he has had with the Icelandic government on Icelandic banks in respect of UK depositors and creditors. (255848)

The Government have taken urgent action to protect the interests of UK depositors in Icelandic banks and are actively pursuing a full resolution. The Government have and will continue to ensure that Parliament and the public are updated on developments as and when possible, without compromising negotiations with the Icelandic Government.

The Chancellor, along with the Governor of the Bank of England and the chairman of the FSA, gave details of discussions related to Icelandic banking situation to the Common’s Treasury committee on 3 November 2008.

The Government continue to work closely with the Icelandic authorities to ensure the fair treatment for UK depositors and creditors.