FSA probes banks' private equity exposure

The UK Financial Services Authority will intensify its scrutiny of banks' exposures to private equity amid fears of a credit squeeze and pressure on the industry from politicians and unions.

The FSA said it will begin conducting a six-monthly survey of banks' credit exposures to leveraged buyouts, starting in nine months' time. It announced this in its feedback to a consultation it began in November on a paper, "Private equity – a discussion of risk and regulatory engagement".

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