Banking News HBOS Strength Was Assessed By Regulators In 2002 2909

HBOS strength was assessed by regulators in 2002

12 February 2009 / by Rebecca Sargent
The strength of banking group HBOS was questioned as early as 2002, a statement released today by the Financial Services Authority (FSA) has revealed.

The statement has been released in response to Sir James Crosby’s resignation as deputy chairman of the FSA. Mr Crosby stepped down yesterday amid furore over his role in the downfall of HBOS.

Sir James, formerly chief executive of HBOS, has been accused of firing Paul Moore, former head of risk at HBOS, on the basis that he raised concerns over the rapid growth of the banking giant’s loan book.

The FSA statement confirms that these concerns were raised by Mr Moore in December 2004, and that the FSA” target=”_blank”>FSA

Written by Editorial Team