LONDON (Reuters) - Bank of England Governor Mark Carney said he was concerned by reports that Royal Bank of Scotland (RBS.L) mistreated small businesses and said they needed to be investigated fully.
"Certainly we take the view that the behaviors documented in the reports ... are both deeply troubling and extremely serious," Carney told lawmakers.
He said Britain's Financial Conduct Authority, which is not part of the BoE, was investigating the case which had "to be tracked down to the full extent of the law."
Carney said the pressure on British banks to rebuild their capital levels was no excuse for "predatory restructuring" of small firms, but the scale of the problem did not appear to be big enough to impact Britain's overall economy.
(Reporting by David Milliken and UK bureau, writing by William Schomberg; editing by Patrick Graham)
- UK International News
- Singapore International News
- Royal Bank of Scotland
- Financial Conduct Authority