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About Depositors

This page contains brief summaries of and links to media reports on the topic of About Depositors.

Offshore banks engulfed by a wave of pessimism

The collapse of savings banks such as Landsbanki Guernsey and Kaupthing Singer & Friedlander Isle of Man (KSFIOM) has prompted a serious rethink about the offshore savings industry. 13-Nov-08.

http://www.timesonline.co.uk/tol/money/savings/article5149511.ece

Bell pledges action on missing KSF funds

Report from the Isle of Man which says the 'GOVERNMENT will take whatever action necessary to clarify what has happened to Kaupthing Singer & Friedlander (IoM) Bank depositors' cash.

And Treasury Minister Allan Bell hasn't ruled out a legal challenge.'  12-Nov-08.

http://www.iomtoday.co.im/news/Bell-pledges-action-on-missing.4688250.jp

FACTBOX-Who is in line to help bail out Iceland?

Thomson Financial News: STOCKHOLM, Nov 12 (Reuters) - Iceland has been hoping to secure a $2 billion lifeline from the International Monetary Fund (IMF), a loan it believes will spur other potential lenders to help the island overcome a crippling financial crisis.. . .

. . .EU / ECB . . .A commission spokesman said any loan would be small and would be conditional on sorting out deposit guarantees between Iceland and EU members, many of whose residents had deposits with offshore units of Icelandic banks. 12-Nov-08.

http://www.forbes.com/afxnewslimited/feeds/afx/2008/11/12/afx5684189.html

Forced to stand on its own three legs

Article written in the wake of Alistair Darling's comments on the Isle of Man and 'tax havens'.

Details the Isle of Man's supportive response to depositors and says, 'some believe the island may gain on its rivals in Guernsey and Jersey. Guernsey refused to bail out savers in Landsbanki, another Icelandic subsidiary, saying precious taxpayers' money should be spent on its own citizens, not offshore investors.'  12-Nov-08.

http://www.ft.com/cms/s/0/62579ac4-b05c-11dd-a795-0000779fd18c.html

Iceland crisis brings a chill wind to savers

The collapse of Icelandic banks Icesave and Landsbanki, both favourites with expats because of the high rates that were on offer, has left tens of thousands waiting to see if they will get compensation for their savings. 07-Nov-08.

http://www.telegraph.co.uk/global/main.jhtml?xml=/global/2008/11/04/expat-saving-waiting.xml

Savers with the Derbyshire may have cash in failed Icelandic bank

SAVERS with the Derbyshire Building Society may have unwittingly ended up leaving their money in a division of a failed Icelandic bank.

The situation occurred when the building society invited savers to invest in Derbyshire Offshore, an account based in the Isle of Man that offered higher returns than normal savings accounts. this is derbyshire website - 04-11-08.

http://www.thisisderbyshire.co.uk/news/Savers-Derbyshire-cash-failed-Icelandic-bank/article-448654-detail/article.html

Landsbanki committee formed

THE support group set up for Jersey investors in the Icelandic-owned Guernsey bank that has gone into administration has formed a committee to help its members get their money back.  03-Nov-08.

http://www.thisisjersey.com/2008/11/03/landsbanki-committee-formed/

Guernsey regulator starts Iceland probe

The Guernsey Financial Services Commission has launched an inquiry into its handling of the Icelandic banking crisis. 

Guernsey’s financial watchdog has appointed US consulting firm Promontory Financial Group to look into its handling of the collapse of Landsbanki Guernsey, which has left 2,000 savers out of pocket.  03-Nov-08.

http://www.citywire.co.uk/Adviser/-/news/adviser-news/content.aspx?ID=319662

Bleak times for Iceland savers

The 200,000 Icesave customers who had their savings accounts frozen can now look forward to payouts before Christmas . . . . But the news is less cheering for the thousands of British savers who had their money in two offshore banks that were backed by the now defunct Icelandic banks Landsbanki and Kaupthing Singer & Friedlander (KS&F).  03-Nov-08.

http://www.telegraph.co.uk/finance/personalfinance/savings/3370578/Bleak-times-for-Iceland-savers.html

Guernsey savers demand more help from Treasury

Unlike UK depositors, savers with funds off-shore in Guernsey, where many people were attracted by means of high interest rates, have no legal guarantees over failed banks. expensedirect.net website - 03-Nov-08.

http://expensedirect.net/?p=1134

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