ft: Spending watchdog linked to Iceland

Oxford university has “about £30m” of its own cash and college money frozen in Icelandic banks – more than twice the amount any university has revealed so far, writes David Turner.
Twelve universities, including Oxford, have so far admitted to a collective loss of £77m in Icelandic accounts. Oxford’s investment in the two Icelandic banks accounts for about 5 per cent of the cash deposits which are managed by the university.