THE latest report outlining Wiltshire Council’s investment and borrowing policies for 2013/14, including an update on its Icelandic banks investment, has been published.
The treasury management strategy 2013/14 sets out how the council invested and borrowed money.
It also provides an update on repayments received from the former Icelandic banks Heritable and Landbanski.
More than 95 per cent of the £9m invested with the bank Heritable is expected to be recovered as well as all of the £3m deposit in Landsbanki.
So far, almost £8.5m has been recovered from the Heritable Bank investment and £1.675 million from Landbanski.
Dick Tonge, the council’s Cabinet member responsible for finance, said: “These reports are important for keeping a check on our finances and I am pleased with the progress we are making.
“It is also positive that the vast majority of our money invested in the Icelandic banks will be recovered.”
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