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Early drafts of a report into the failure of Royal Bank of Scotland have begun circulating among a small group of officials ahead of the document's publication expected later this year or early next.
The document is expected to give a definitive account of how RBS ended up requiring £45bn in direct taxpayer support and more than £100bn of state loans and government-backed insurance after it came close to collapse in October 2008.
The report is being overseen by Sir David Walker, a former banker, and Bill Knight, a senior corporate lawyer, who were drafted in to oversee the Financial Services Authority's work after the regulator missed its original March deadline to publish the paper. Andrew Tyrie, chairman of the Treasury Select Committee, has been instrumental in pushing the FSA to publish a full account of the circumstances surrounding RBS's failure and was responsible for drafting in...Read more HERE---> Full report should throw light on to failings at RBS - Telegraph
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If released as expected, the report will add to a busy week for the banking sector as a number of key issues come to a head. On December 15 a meeting of....Read more here--> The FSA to begin printing copies of its report into the collapse of RBS