This is an operational matter for the Audit Commission and I will ask the chief executive of the Audit Commission to respond to the hon. Member direct.
Letter from Steve Bundred, 15 June 2009:
The Audit Commission had deposits with two Icelandic banks, £5m with Heritable and £5m with Landsbanki when each account was frozen. As at 11 June 2009, no monies have been recovered from either bank.
A copy of this letter will be placed in Hansard.