FOI Request Banking in Iceland
Could I request the following information under freedom of information legislation:
• Could you please provide a) a calculation of how much council money was invested in Icelandic banks before the financial crash and b) the amount of council money lost from investing in Icelandic banks.
a) The Council invested £2,000,000 in Icelandic banks before the banks collapsed.
b) The investments and accrued interest to maturity was £2,010,404.93 and the amount realised was £1,849,572.54 resulting in a loss of £160,832.39.