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Audit Commission: Bank Services

Volume 494: debated on Monday 15 June 2009

To ask the Secretary of State for Communities and Local Government how much the Audit Commission had on deposit in each Icelandic bank when each account was frozen; and how much of each deposit remains unrecovered. (279848)

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.