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Six more banks agree to swaps sales review
by Brian Cantwell on Feb 18, 2013 at 13:07
Six more banks have agreed to review their sales of controversial interest-rate ‘swap’ products following a pilot review into them conducted by the Financial Services Authority (FSA).
Allied Irish Bank UK, Bank of Ireland, Co-operative Bank, Clydesdale and Yorkshire Banks, and Santander UK have agreed to the review.
The FSA said the six new banks’ scrutiny of sales would be overseen by an independent reviewer, in line with the approach for Barclays, RBS, HSBC and Lloyds.
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