Council Cuts Risk with City Investments ; the Number of Organisations Plymouth City Council Invests with has Been Cut From 41 to Just Six in a Bid to Limit the Risks Following Last Year's Icelandic Bank Collapse

Plymouth Evening Herald, The › April 09, 2009

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Summary

The number of organisations Plymouth City Council invests with has been cut from 41 to just six in a bid to limit the risks following last year's Icelandic bank collapse

In 2008 the council had about pounds280million of investments in banks worldwide, of which 30 per cent was offshore.

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Extract

Council Cuts Risk with City Investments ; the Number of Organisations Plymouth City Council Invests with has Been Cut From 41 to Just Six in a Bid to Limit the Risks Following Last Year's Icelandic Bank Collapse

It has now put all the city's money in six mainly British organisations.

These include the Royal Bank of Scotland, which was saved fro...

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