FSA had concerns over HBOS risks
Updated on 12 February 2009
The City's watchdog expressed concerns over risk controls at ailing bank HBOS before worries over the firm's rapid growth were raised by an internal whistleblower.
The Financial Services Authority (FSA) said it had identified "a need to strengthen the control infrastructure" at the bank as early as 2002.
On Wednesday the FSA's deputy chairman Sir James Crosby - a former HBOS chief executive - stood down after claims that he sacked the bank's head of risk in 2004 for raising concerns that the bank was "going too fast".
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