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| Version 1 | Version 2 |
|---|---|
| MPs to quiz former banking bosses | MPs to quiz former banking bosses |
| (about 3 hours later) | |
| The former bosses of the two biggest UK casualties of the banking crisis are to be questioned by MPs later. | The former bosses of the two biggest UK casualties of the banking crisis are to be questioned by MPs later. |
| Royal Bank of Scotland's former chief Sir Fred Goodwin and ex-HBOS head Andy Hornby are among those giving evidence to the Treasury Select Committee. | |
| They are expected to be questioned over the mistakes which led to the banks being bailed out by the government. | They are expected to be questioned over the mistakes which led to the banks being bailed out by the government. |
| The subject of bonuses is also expected to be raised amid reports RBS is to pay out £1bn to some bank staff. | The subject of bonuses is also expected to be raised amid reports RBS is to pay out £1bn to some bank staff. |
| Under the terms of October's bank-bailout, no board directors at partly state-owned firms will receive any cash bonuses this year. | Under the terms of October's bank-bailout, no board directors at partly state-owned firms will receive any cash bonuses this year. |
| But Prime Minister Gordon Brown has expressed anger over proposed pay-outs to other workers and said he wanted employees to consider waiving their right to them. | But Prime Minister Gordon Brown has expressed anger over proposed pay-outs to other workers and said he wanted employees to consider waiving their right to them. |
| 'No easy ride' | 'No easy ride' |
| Sir Fred, former RBS chief executive, and Sir Tom McKillop, who was chairman, will appear before the select committee at 0945 GMT alongside Lord Stevenson and Mr Hornby, respectively former chairman and chief executive of Halifax Bank of Scotland . | |
| The bosses still in place at the helm of Britain's leading banks will appear before the Select Committee on Wednesday. | The bosses still in place at the helm of Britain's leading banks will appear before the Select Committee on Wednesday. |
| The BBC's chief economics correspondent Hugh Pym said select committees rarely offered an easy ride and it was hard to see the banking chiefs having a comfortable time. | The BBC's chief economics correspondent Hugh Pym said select committees rarely offered an easy ride and it was hard to see the banking chiefs having a comfortable time. |
| RBS is now nearly 70% owned by the taxpayer after a government rescue package was put in place at the end of last year. | RBS is now nearly 70% owned by the taxpayer after a government rescue package was put in place at the end of last year. |
| The bank has said it made a loss of up to £8bn in 2008 and will have to write off £20bn worth of assets relating to the takeover of ABN Amro at the height of the financial boom in 2007. | The bank has said it made a loss of up to £8bn in 2008 and will have to write off £20bn worth of assets relating to the takeover of ABN Amro at the height of the financial boom in 2007. |
| HBOS was rescued by Lloyds and the merged group is now more than 40% owned by the government. | HBOS was rescued by Lloyds and the merged group is now more than 40% owned by the government. |