Draft report on collapse
of bank later rescued by Lloyds TSB during 2008 credit crunch mus
t be reviewed by those criticised in process called ‘
re-maxwellisation’The long-awaited report into what went w
rong at HBOS before it was rescued by Lloyds TSB during the 2008
banking crisis is facing further delays,it has been revealed as investigator
s admitted they need the permission of individuals criticised
in the report before it can be published.
Andrew Bailey, deputy governor of the
Bank of England, or revealed on Tuesday that the draft report on eve
nts that took area at least seven years ago ran to 500 pages. T
he investigation has received 1425 representations from more than 35 individuals and their l
awyers over the report,which is bei
ng compiled by the Bank of England and the Financial
Conduct Authority (FCA).
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Source: theguardian.com