Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether all participating banks completed all customer review assessments for the sale of interest rate hedging products by the deadline set by the Financial Conduct Authority (FCA); and what (a) fines and (b) other measures the FCA plans to impose on banks which missed the deadline.

All nine participating banks have now completed their assessment of customers that joined the FCA review of interest rate hedging products before March 2014. This is within the projected FCA timescale.