FOI Request Banking in Iceland
Request 101001658166
Could I request the following information under freedom of information legislation:
• Could you please provide a) a calculation of how much council money was invested in Icelandic banks before the financial crash and b) the amount of council money lost from investing in Icelandic banks.
Response 28-11-2017
a) The Council invested £2,000,000 in Icelandic banks before the banks collapsed.
b) The investments and accrued interest to maturity was £2,010,404.93 and the amount realised was £1,849,572.54 resulting in a loss of £160,832.39.