HBOS timeline: the countdown to collapse
by Jill Treanor from on (#V26D)
As the long-awaited report into the troubled emergency takeover of HBOS by Lloyds is published, we look back over the bank's turbulent 14-year history
May 2001 Halifax and Bank of Scotland merge to create HBOS, a "new force in banking".
January 2004 Mike Ellis, the then finance director, tells the board the Financial Services Authority (FSA) is concerned the bank is an "accident waiting to happen". This subsequently emerges in the parliamentary commission on banking standards (PCBS) report in 2013.
