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    Forumites might like to know that I have just been researching the Chelsea Building Society and I have found that they have £55,000,000 with Icelandic Banks.

    I have no reason to be concerned about them as this represents just under 2% of their portfolio. They do tend to finance their lending from savers, this being a Building Society and not a bank and they have little exposure to sub-prime. Given the current climate, however, if you have money with them I would suggest that you should make sure that you have no more than £50,000.

    I repeat, I have no reason to think that they may go down or that there will be any kind of significant problem, but better safe than sorry given what has been happening.

    Please do not take this as any kind of advice to invest with these.

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