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UK's Osborne to announce wide bank review-source
July 2, 2012 / 1:03 PM / 5 years ago

UK's Osborne to announce wide bank review-source

LONDON, July 2 (Reuters) - British finance minister George Osborne will on Monday announce a broader-than-expected review into the banking industry, looking at culture and standards in the sector as well as the causes of the recent Libor rate-fixing scandal, a source familiar with the situation said on Monday.

The UK source said the investigation would be “wider than a narrow review into Libor and criminal sanctions ... (and) will encompass culture and sanctions.”

Osborne is due to give a statement to parliament at 1530 GMT.

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