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HBOS timeline: the countdown to collapse

Discussion in 'Market News' started by Lily, Nov 20, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    As the long-awaited report into the troubled emergency takeover of HBOS by Lloyds is published, we look back over the bank’s turbulent 14-year history

    May 2001 Halifax and Bank of Scotland merge to create HBOS, a “new force in banking”.

    January 2004 Mike Ellis, the then finance director, tells the board the Financial Services Authority (FSA) is concerned the bank is an “accident waiting to happen”. This subsequently emerges in the parliamentary commission on banking standards (PCBS) report in 2013.

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