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U.K. Lifts Price Controls Placed On Four Banks

Law360 (August 23, 2007, 12:00 AM EDT) -- Four years after imposing mandatory price controls on Britain's largest banks, the U.K. Competition Commission has decided to lift the restrictions.

The U.K.'s antitrust regulator said on Thursday that it would lift a 2003 requirement that forced Barclays, HSBC, Lloyds TSB and the Royal Bank of Scotland Group to offer interest rates of at least 2.5 percentage points below base, in order to promote competition.

The CC had imposed the price controls after finding that the four banks dominated the market for small and medium sized...
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