Amount held in Guernsey banks falls

The amount of money held in Guernsey's banks fell by a quarter last year, according to the Guernsey Financial Services Commission's annual report.

It was just one of the details in the report published on Friday.

The GFSC described the first quarter of last year as "the continuation of the worst global financial crisis since the Second World War."

Last year there were £117bn pounds in Guernsey banks, down from £157bn the previous year.

Deposits from Switzerland made up nearly 40% of that money, followed by 28% from Guernsey and 11% from the United States.

The report also revealed the value of residential mortgages rose slightly to £2.7bn last year.

The full report is available on the commission's website.

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