
British banks ring-fence more than £5 billion for PPI compensation payouts

British banks including Lloyds TSB, HSBC, Barclays and Royal Bank of Scotland are ring-fencing more than £5 billion in expectation of customer compensation claims against mis-sold payment protection insurance (PPI) policies.
The banks’ decision to set the money aside has come after a judicial review by the British Bankers’ Association (BBA), the Financial Services Authority (FSA) and the Financial Ombudsman Service (FOS) regarding the FSA’s proposed rules for handling bank complaints. The BBA
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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Operational risk
Regulation
What lies beneath: Nomura’s iceberg balance sheet
Collateral received by the Japanese bank exceeds its total on-balance-sheet assets – does it matter?
Receive this by email