FOI Request Banking in Iceland

Request 101001658166

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.

Response 28-11-2017

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.