18 September, 2008
The FSA has issued a statement on the merger of Lloyds TSB and HBOS which is as follows:
As previously stated, the FSA is satisfied that HBOS is a well-capitalised bank that continues to fund its business in a satisfactory way.
The announcement of the proposed merger with Lloyds TSB is a welcome move as it is likely to enhance stability within financial markets and improve confidence among customers and investors in the UK financial sector.
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