Bloomberg News

FSA Failed to Foresee Collapse of a Large Global Systemic Bank

December 12, 2011

Dec. 12 (Bloomberg) -- The Financial Services Authority said it did not foresee the failure of a large systemic global bank prior to the collapse of Lehman Brothers Holdings Inc. on Sept. 15, 2008, according to a report into the near collapse of Royal Bank of Scotland Group Plc.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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