On 2 September 2008, the British Chancellor of the Exchequer, Alistair Darling, had met with Icelandic Minister of Trade, Björgvin G. Sigurðsson, to discuss how the recently increased financial problems for Icelandic-owned banks operating in the UK should be handled. It was later claimed by Björgólfur Thor Björgólfsson, son of Landsbanki's chairman of the board, that the UK FSA had agreed to takeover the liability for minimum Icesave deposit guarantees under the UK Financial Services Compensation Scheme (FSCS) in return for a liquidity deposit (most likely in the form of an external bank guarantee) of £200 million (€240 million). British newspaper "The Independent" however reported, that the requested liquidity deposit in order to takeover liabilities for minimum deposit guarantees, allegedly proposed by the UK FSA, might instead have been as high as 50 percent of the Icesave banks retail deposits (some ten-times higher), a figure which would have paralysed Landsbanki's retail operations in London. The UK FSA and Treasury subsequently denied ever to have offered such an agreement, as no such document existed in their archives.