Lloyds Banking Group has revealed that the Financial Services Authority’s (FSA’s) promised report on the near-collapse of HBOS will focus on activities at Bank of Scotland’s corporate division, pre-2009.
The regulator commenced a supervisory review of HBOS in 2009 but last month FSA chairman, Lord Turner, told MPs that a report on the developments that put the bank in an unsustainable position in 2008 will be undertaken.
A similar work on failures at Royal Bank of Scotland is now long overdue and no timescale has been indicated for the HBOS report.
The regulator commenced a supervisory review of HBOS in 2009 but last month FSA chairman, Lord Turner, told MPs that a report on the developments that put the bank in an unsustainable position in 2008 will be undertaken.
A similar work on failures at Royal Bank of Scotland is now long overdue and no timescale has been indicated for the HBOS report.
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