Kaupthing Bank: German customers get their money back

2008-11-18 (All day)

This is a rough translation of the article. It's also been on German radio today.

"Kaupthing Bank: German customers get their money back.

German customers of the Icelandic bank Kaupthing will get their money back. Savings of up to 20,900 € per account holder will be paid out, a treasury spokesperson said to the "Handelsblatt". There is also the hope that balances above this will be recompensated by Iceland's deposit guarantee. Iceland's prime minister Geir Haarde said he believes that Kaupthing will do everything "to realise sufficient assets so that the deposits of German savers can be paid out". A final agreement has, so far not yet been reached.

In recent months Kaupthing Edge Germany had acquired around 30,000 customers in Germany on account of the high savings interest rates. The German bank supervision commission Bafin froze the accounts of the German subsidiary in the beginning of October to the amount of around 308 million €. Unlike domestic banks, Kaupthing bank is not covered by the German deposit guarantee fund, but is covered by the Icelandic statutory guarantee of 20,900 €."

Your rating: None

Iceland reaches deal for foreign savers, key for aid

Posted 17/11/2008 - 11:17 by Anonymous

2008-11-16 (All day)

REYKJAVIK (Reuters) - Iceland said on Sunday it had reached a deal with several European Union states on how to repay thousands of foreign savers with money in frozen Icelandic accounts, potentially unlocking billions of dollars in aid.

Your rating: None

Help needed for offshore savers

Posted 24/10/2008 - 00:54 by Anonymous

2008-10-23 (All day)

More than 12,000 people have collectively lost nearly £1 billion in the offshore arms of Icelandic banks.

But while the Government was quick to step in to guarantee the savings of UK investors who held money in this country with Icelandic institutions, no one has offered any help to those with cash offshore.

Their problem is being compounded by a misconception that offshore accounts are the preserve of wealthy tax exiles. But in reality many of those who have lost money with Landsbanki Guernsey and Kaupthing Singer & Friedlander Isle of Man are ordinary people who simply happen to live abroad.

[Click link to read more]

Your rating: None Average: 5 (1 vote)

Island savers form action groups - BBC Jersey

Posted 21/10/2008 - 04:37 by Anonymous

2008-10-20 (All day)
Your rating: None Average: 4 (2 votes)
Syndicate content