Rumour reaches me that two blogs here on HBOS have travelled a fair distance in the City. Good. That;s why I write this stuff.
The first, and in some ways most serious, was on its Chinese Walls. I hope it's the FSA who are considering that one. Prima facie I think HBOS has a case to answer based solely on its own disclosures.
The second was on its offshore funding. There's been a lot of speculation about who has used the Bank Of England loan facility apart from Northern Rock, with attention focused on Barclays. If that now seems less likely, I wonder who it could be?