Kaupthing Singer and Friedlander: progress update

25th November 2008

The FSCS has now sent out compensation claim forms to all the savers that we have records for at Kaupthing Singer and Friedlander who did not transfer to ING Direct. So far we have received over 1,300 forms back, and our claims teams have been working hard to process these claims through data gathering (where this has been necessary) and by checking the eligibility of the claims.

The FSCS has been working closely with Ernst and Young, the administrators, to verify the final account balances of these claimants, and once these have been confirmed we will be in a position to pay claims quickly.

We would like to reassure customers of the bank that our priority is to pay them their compensation as quickly as possible.

We will update our website as soon as we have more information.