Interest rate swap mis-selling scandal: Difference between revisions
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Revision as of 17:00, 8 April 2024
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Chez Guevara — Dining in style at the Disaster Café™
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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.