Five years ago this week, on 5 March 2009, the Bank of England took the dramatic step of cutting interest rates to their lowest level in more 300 years.
The Bank of England's base rate would peak close to 3% to protect mortgage payers from a big increase in monthly interest payments, a senior Bank of England official said.
Interest rate rises would tip millions of already-precarious households into financial disaster, according to economists, who warn it would cost the average family nearly £3,000 a year in extra mortgage payments if rates returned to levels that were typical before the credit crunch.
Antony Jenkins, the boss of Barclays, warned yesterday that there would be another financial crisis once the current crop of bankers, who bore the scars of 2008, had retired or died. "I don't think we're going to have another crisis like this in the next five years, but we will have another problem when all the people like us … have retired or died."
Andrew Tyrie's work is nearly done.
HSBC has played down the prospect of spinning off its UK business in a separate stock market listing in a move that would undo its takeover of Midland Bank 20 years ago.
Royal Bank of Scotland has blamed a cyber-attack for IT problems that prevented customers accessing their bank accounts for the second time in a week.
Tim Wise of JP Morgan is made of stout moral stuff. When advising the Co-op Group on its ill-fated transaction with Britannia Building Society in 2009, his judgments were not swayed one iota by the knowledge that a £5m fee for his employer would only be paid if the deal actually happened.
A global investigation into allegations of manipulation in the £3tn-a-day currency markets appeared to be deepening with more banks admitting they were co-operating with regulators and Barclays suspending six of its traders.
Bank of England governor Mark Carney offered an olive branch to the City when he said properly managed and regulated banks would be able to secure more help at lower cost from Threadneedle Street if they got into financial trouble.