East Northamptonshire Council Avoids Investment In Icelandic Banks
| Published: 20th October 2008 09:48 |
East Northamptonshire Council would like to reassure residents that it has no money invested with Landsbanki or indeed any bank that has "gone out of business" recently
Our investment strategy is to use only the highest credit rated banks and building societies, and as a prudent council we regularly review our investment advisors. Our most recently-appointed of these advised us about 18 months ago, well before the current banking and stock market crisis, to steer clear of investments in Icelandic Banks. The advice we've received over the last 18 months has not changed and therefore we've not placed any money in Icelandic Banks during this period
Our investments are held in reputable UK or Irish banks and UK building societies
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