BoE Carney Troubled by RBS Lending Practices Allegations

Bank of England governor Mark Carney says the latest allegations against Royal Bank of Scotland are deeply worrying, and should be pursued fully by independent authorities.

Asked by the Treasury committee for his views on yesterday’s report from Lawrence Tomlinson, which suggested that RBS had deliberately driven healthy firms to the wall, Carney replied:

We take the view that the behaviours documented in the report [and in a separate report from Sir Andrew Large] are deeply troubling and extremely serious.

It is the direct responsibility of the FCA to investigate, Carney continued, saying that RBS can’t be left to simply look into it themselves.

Authorities need to be involved, he added.

via theguardian.com

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.