THAMES Valley Police Authority has revealed it has £5 million deposited with troubled Icelandic bank Landsbanki.
The money makes up part of the force's £356 million annual budget and has been invested in the form of a 364-day loan, due for repayment to the authority plus interest in May 2009.
A statement from Thames Valley Police Authority said: "This deposi
t was made in accordance with the Authority's approved investment strategy.
"In the immediate short term we do not expect any impact on front line policing and discussions between the Association of Police Authorities, the Local Government Association and Central Government are continuing to seek a solution to protect public sector services in the long term.
"A full report on the matter will be given to the Police Authority in their next meeting on October 24."
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