I turn to the compensation orders with respect to the UK subsidiaries Heritable and KSF of the two Icelandic banks, Landsbanki and Kaupthing. On 7 and 8 October 2008 respectively, the FSA decided that Heritable and KSF no longer met their threshold conditions and were unlikely to continue to be able to meet their obligations to depositors. Accordingly, the Chancellor announced that by orders made under the Banking (Special Provisions) Act 2008, the retail deposit business of Heritable and KSF were to be taken into public ownership. Heritable and KSF were then placed into administration and their retail deposits subsequently transferred to ING Direct.