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Banking: Royal Bank of Scotland

House of Lords written question – answered on 24th January 2011.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government whether the report into the collapse of HBOS commissioned by and currently being produced for the Financial Services Authority is subject to the same confidentiality conditions and publication restrictions as the report produced on the Royal Bank of Scotland.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

On 2 December the Financial Services Authority (FSA) announced that it had completed a supervisory investigation into the Royal Bank of Scotland (RBS). The FSA is conducting supervisory investigations into the other banks that required extensive government support during the crisis. These investigations are ongoing. If they lead to enforcement action being taken, then it would be usual for the FSA to make these outcomes public if such actions against individuals or institutions are successful.

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