UK Govt to ensure savers get money back

Laughing_Boy

Oct. 22 (Bloomberg) -- The U.K. Treasury is planning to lend Iceland about 3 billion pounds ($5 billion) so British depositors who put money into Icesave, the internet arm of Landsbanki Islands hf, can be repaid after their accounts were frozen, the Financial Times reported, without saying where it got the information. Officials from the department and the Bank of England plan to go to Iceland to complete the plan, the newspaper said, citing an unidentified spokesman for the Treasury. Bjorgvin Sigurdsson, Iceland's minister for commerce, said the deal may be reached by today, the newspaper said.
The agreement, aimed at covering the savings of private individuals, will not protect corporate or government holders in Icesave, according to the FT.

altocumulus

jaigee wrote: »

UK plans 3bn loan to Iceland to compensate Icesave savers, full story here:

http://www.ft.com/cms/s/0/108635c0-9fbd-11dd-a3fa-000077b07658.html?nclick_check=1

I think the word you've missed out is hoping .....

jaigee_2

Latest from the FSCS:

http://www.fscs.org.uk/consumer/

EagerLearner

Payments will start coming through electronically mid-November, back to linked accounts.

Optimist

On Money box on BBC this lunchtime .

People will receive a email in November giving details of how to withdraw your moneys to the linked account.

People with term bonds will have the option to withdraw straight away or leave for the full term

On ISAs he didn't seem too sure on the process yet but said that the tax free status would still be guaranteed.

All moneys should be returned by Christmas irrespective of talks with the Icelandic authorities