Camden's investments based on advice of credible experts
You will have seen in the media that over 100 councils have deposits with Icelandic banks. We would like to reassure everyone that we do not have any funds deposited with these banks. We invest our money based on advice from a range of credible experts a
You will have seen in the media that over 100 councils have deposits with Icelandic banks. We would like to reassure everyone that we do not have any funds deposited with these banks.
We invest our money based on advice from a range of credible experts and within the framework of the agreed national financial code of practice for local authorities.
We lend only to the top rated institutions based on this advice, combined with the judgement of our senior finance professionals who monitor the position on a daily basis. The object is to lend to the most secure institutions, including the largest banks and building societies, as these have historically been the safest investments.
Despite financial pressures we pledge that we will continue to look at how we can provide our services in the most cost effective way.
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If any residents are concerned about paying their bills they should seek professional advice immediately from organisations such as the Citizens' Advice Bureau which the council supports financially.
The current financial crisis is clearly a worrying and uncertain time for many of us. While this is an international crisis requiring international solutions, as a council we want to do as much as we can to help minimise the impact it has on residents' everyday lives.
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Leader of Camden Council
Deputy Leader of Camden Council