The Commission considered that Abbey National was an important force for competition in the PCA market, regardless of whether the proposed merger between Bank of Scotland and Halifax proceeded.

BBC: Patricia Hewitt statement in full

Sir James Crosby presided over the creation of the giant bank when it was formed in 2001 from the merger of the Bank of Scotland and the Halifax.

BBC: HBOS bosses remain under fire as Sir James resigns posts

Within hours all pretence of maintaining a statesmanlike consensus over the bail-out of Royal Bank of Scotland (RBS) and HBOS (formed by the merger of Halifax Building Society with Bank of Scotland) had vanished.

ECONOMIST: The financial crisis bodes ill for Scottish independence