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Regulator to check on financial health of foundation trusts

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Monitor is to ask all 107 NHS foundation trusts whether their invested funds have been ‘exposed to any risk’.

The foundation trust regulator told NT it will ask the question after it was revealed that as many as 20 local councils have millions of pounds tied up in Icelandic banks, which may not be able to guarantee investments.

The government is currently considering how to protect the money for the councils.

Michael Moruzzi, a spokesperson for Monitor, said: ‘Foundation trusts do not have to declare to us every investment, but they do have to declare how much they have invested but we do not have a spreadsheet of how much has been invested.

‘We will be asking them over the next few days if their funds have been exposed to any risk,’ he added.

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