Interest rate swap mis-selling scandal: Difference between revisions
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Nine banks including Lloyds, RBS and HSBC agreed in 2013 to compensate companies that were sold inappropriate products that were supposed to protect them from changing interest rates on their debts. However, these hedges could expose the firm to the risk of rate movements even after their initial loan had been repaid. | {{a|disaster|}}Nine banks including Lloyds, RBS and HSBC agreed in 2013 to compensate companies that were sold inappropriate products that were supposed to protect them from changing interest rates on their debts. However, these hedges could expose the firm to the risk of rate movements even after their initial loan had been repaid. | ||
[http://www.telegraph.co.uk/finance/rate-swap-scandal/11402982/Companies-let-down-by-interest-rate-mis-selling-redress-say-MPs.html Telegraph article] | [http://www.telegraph.co.uk/finance/rate-swap-scandal/11402982/Companies-let-down-by-interest-rate-mis-selling-redress-say-MPs.html Telegraph article] | ||
{{sa}} | |||
{{casenote|Greenclose|National Westminster Bank plc}} | {{casenote|Greenclose|National Westminster Bank plc}} | ||
*[[email]] | *[[email]] | ||
*[[electronic messaging system]] | *[[electronic messaging system]] | ||
Revision as of 16:59, 8 April 2024
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Nine banks including Lloyds, RBS and HSBC agreed in 2013 to compensate companies that were sold inappropriate products that were supposed to protect them from changing interest rates on their debts. However, these hedges could expose the firm to the risk of rate movements even after their initial loan had been repaid.