Via the Treasury Select Committtee, here is the Chairman of the Financial Services Authority’s 10 April 2012 letter to the Chairman of Barclays, in which the FSA remarked on its:
“…concerns about the cumulative impression created by a pattern of behaviour over the last few years, in which Barclays often seems to be seeking advantage through the use of complex structures, or through arguing for regulatory approaches which are at the aggressive end of intepretation of the relevant rules and regulations”.
Barclays’ response – which reads like that a boy who, whilst clever, is missing the wider point that his headmaster is making – is here.
See also: The implicit subsidy of UK banks by the government – Bank of England paper, May 2012
