Informative article on the prospects for offshore banks which also sheds light on the 'places where savvy corporations manage their tax affairs'.

'Onshore businesses in London and New York exploit the offshore benefits offered by the likes of Jersey and the Cayman Islands to optimise the tax efficiency of certain deals, such as the repackaging of debt and cross-border lending.'  30-Nov-08.

It is surprising that the difference between these entities and ordinary small depositors is not acknowledged.

http://www.ft.com/cms/s/0/bd051b0c-bf13-11dd-ae63-0000779fd18c.html