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Banking: Iceland

House of Lords written question – answered on 7th July 2011.

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Photo of Lord Laird Lord Laird UUP

To ask Her Majesty's Government, further to the Written Answer by Lord Sassoon on 26 April (WA 12) concerning £418 million unclaimed by the United Kingdom customers of failed Icelandic banks, under what circumstances claims for compensation from United Kingdom depositors in failed Icelandic banks are deemed ineligible under the Financial Services Compensation Scheme.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

Information on the eligibility rules can be found on the Financial Services Compensation Scheme website and in the Financial Services Authority Handbook under Redress, Compensation. This information is available at the following websites: www.fscs.org.uk/what-we-cover/eligibility-rules/http://fsahandbook.info/FSA/html/handbook/COMP.

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