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Local councils caught up in Icelandic banking crisis



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Published Date: 10 October 2008
COUNCILS in Oxon and Bucks are among those caught up in the Icelandic banking crisis.
Local authorities including Bucks County Council, Aylesbury Vale District Council, Oxfordshire County Council and Cherwell District Council are among at least 40 councils across the country waiting to hear when their investments in three Icelandic banks will be repaid.

Bucks County Council said it has £5million invested with the Icelandic bank Landsbanki, while Aylesbury Vale District Council has a total of £3million invested in Landsbanki and its UK arm, Heritable Bank.

Oxfordshire County Council has £5million invested in troubled Icelandic banks, and Cherwell District Council said it has £6.5million invested with the Icelandic bank Glitnir.


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  • Last Updated: 10 October 2008 10:30 AM
  • Source: n/a
  • Location: Buckingham
 
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