Icesave debacle costs banks €225m

The bankruptcy of Icelandic internet bank Icesave has cost Dutch banks around €230m, the central bank said on Friday.

Of this, €212m is due to the savings guarantee system, which means that savers are protected if a bank goes bankrupt.
The rest of the money went on the administration costs of making these paybacks, the central bank said.
In total, 144,000 people had Icesave Nederland accounts. Savings of up to €100,000 are guaranteed by the government with the banks themselves funding a proportion of that.

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