Here are RDCs investments as of 13th October, in thousands of pounds:
Alliance and Leicester 4,000
Bank of Ireland 5,100
Anglo Irish Bank Corporation Plc 700
Other banks on the approved lending list are
Abbey National Plc
Abbey National Treasury Services Plc
Lloyds TSB Bank Plc
Cheltenham & Gloucester Plc
Barclays Bank Plc
HSBC Bank Plc
Royal Bank of Scotland Plc
National Westminster Bank Plc
Ulster Bank Ltd
Nationwide Building Society
Chelsea Building Society
Coventry Building Society
Skipton Building Society
Yorkshire Building Society
Other Local Authorities
Debt Management Agency Deposit Facility
Many thanks to our officers for providing the information – they have confirmed this is in the public domain.
We have more details if anyone wants to know.
Well done to Rochford DC for spreading the risk. It might be an idea though, to keep an eye on HBOS as there is a threat that the merger with Lloyds-TSB might not go ahead because of the terms the government have stipulated over the bailout of the major UK banks. If the merger does not go ahead there is a risk that HBOS might be the next institution with liquidity problems!