Written question asked by Lord Laird (Ulster Unionist Party), in the House of Lords. It was answered by Lord Myners (Labour) on Monday, 22 March 2010.

Banking: Iceland

Question: To ask Her Majesty's Government how many depositors in the United Kingdom branch of Landsbanki with balances above £50,000 that were repaid by HM Treasury had addresses outside the United Kingdom; how many remain unpaid; and for what reasons.

Answer: The Financial Services Compensation Scheme (FSCS) is responsible for making compensation payments to Icesave retail depositors on behalf of the Treasury for deposit balances above £50,000. According to the FSCS there are 14 claimants with non-UK addresses (of whom three have secondary UK addresses) who had balances over £50,000. All of those claimants have now been paid. The amount of levy a financial institution pays to the Financial Services Authority (FSA) for contribution towards the FSCS compensation costs is a commercially confidential matter between the FSA and the financial institution in question. It would be a matter for a financial institution to decide whether to disclose such information through the usual regulatory reporting requirements. In response to the question about the amount the FSCS is claiming in the administration of Landsbanki in respect of the amount of compensation the FSCS paid out under the "top-up arrangements", ie for deposits above €20,887 but below £50,000, I refer to the Written Answer I provided on 22 February 2010 (WA 174).

Secondary information