76% of KSF IOM Depositors had less than £50,000 according to IOM Government .....

Posted 16/12/2008 - 21:08 by podather

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2008-12-16 (All day)

This article appeared in the FT Online and is regarding the hardship payment they are proposing to insult us with.
I noticed bearied deep in the article i quote from the IOM government stating that if activated the DCS scheme would provide full return of funds to 76% of all depositors in KSF IOM.

"The Isle of Man government said the Depositor Protection Scheme could return 100 per cent of deposits to 76 per cent of the Kaupthing savers. The Depositor Protection Scheme only protects the first £50,000 on deposit and will not cover consumers who deposited money via offshore bonds."

This is the first time I have seen any reference to the number of account holders who had £50,000 or less on deposit in the bank.

Rough Figures:
If there is 8000 account holders (according to article)then more than 6000 of these had less than 50k in them.
If you then took £25,000 as an rough average for these accounts then that equates to £150 million
so that leaves 2000 account holders responsible for £677 million of deposits or £338,500 each
Seems very heavily weighted towards the 24% to me and it states that this excludes bond holders also who I would assume
had decent sums to invest.