Since the FSA declared Bradford and Bingley to be in default, the FSCS has also been triggered for four other banks: Heritable Bank, Kaupthing Singer & Friedlander, Icesave (the internet based product made available by the UK branch of the Icelandic bank, Landsbanki), and London Scottish Bank. In each case, the FSCS funded its portion of the compensation costs through a short term loan from the Bank of England, now replaced by a loan direct from the Treasury.