Schedule slips and costs rise on rate hedge payouts

UK regulator reveals that banks will miss deadline for compensating interest rate hedge mis-selling victims

Airport delays

UK banks are speeding up the payment of compensation to small businesses mis-sold interest rate hedging products (IRHPs), but will still miss the May 2014 deadline, the UK Financial Conduct Authority (FCA) has confirmed.

The FCA published estimates from the major banks of their progress towards completing the process of offering initial redress to customers who were mis-sold interest rate caps, collars and swaps. Of the four major UK banks, Lloyds said it would be finished by the end of April

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here