Hayday said that while he supported the proposal to create a buffer fund for unclaimed assets, this needed to be set up quickly and administered independently on behalf of good causes. He acknowledged that the overriding priority was to reunite owners with their assets, but argued that targeted funds, on a revolving basis, could be used now.

Hayday said: “The money being held back to meet claims, and which is not needed to generate operating income for the buffer fund, could be placed on deposit with community development finance intermediaries… This would both strengthen those community ‘banks’ and enable them to increase their lending to good causes.”

For the back story on unclaimed assets visit www.charitytimes.com/pages/ct_news/March_07_news/140307_unclaimed_assets.htm