Sir James Crosby left HBOS in July 2006
The Financial Services Authority's (FSA) unusual statement about its dealings with HBOS has given an insight into the chronology of its interaction with the bank.
Here is a timeline, covering the FSA's activities, the movements of Sir James Crosby and the troubles at HBOS.
September 2001: HBOS is formed from the merger of Halifax and Bank of Scotland, with James Crosby at its head.
Late 2002: The FSA conducts a full risk assessment of HBOS, known as an Arrow assessment. It identifies the need to "strengthen the control infrastructure within the group".
It also commissions a report from PricewaterhouseCoopers on the HBOS risk management framework.
8 November 2004: HBOS head of group regulatory risk, Paul Moore, is made redundant from HBOS as part of the bank's restructuring plans. He complains to the FSA about HBOS and about the suitability of the new appointee as the group risk director.
KPMG is commissioned to investigate the claims and decides that it "did not believe that the evidence reviewed suggested that the candidate was not fit and proper".
Mr Moore sues for unfair dismissal and says he received substantial damages but is subject to a gagging order.
December 2004: Having conducted another risk assessment of HBOS, the FSA concludes that "the risk profile of the group had improved and that the group had made good progress", but it adds that "the group risk functions still needed to enhance their ability to influence the business".
29 June 2006: The FSA writes to HBOS with another Arrow assessment saying that "the growth strategy of the group posed risks to the whole group and that these risks must be managed and mitigated".
June 2006: James Crosby's knighthood is announced in the birthday honours list.
July 2006: James Crosby steps down from his job at HBOS.
December 2007: Sir James Crosby is appointed to the role of deputy chairman of the FSA.
July 2008: Having raised £4bn through a rights issue, only 8% of which is taken up by existing shareholders, HBOS reveals that its six-month profits have fallen 72%.
17 September 2008: Lloyds TSB announces it is to take over HBOS. The deal follows a run on HBOS shares.
13 October 2008: As part of government plans to recapitalise the banks, Lloyds TSB and HBOS receive £17bn of public money between them.
30 October 2008: Paul Moore speaks to the BBC Money Programme of his concerns "as to whether or not the business was under control".
10 February 2009: Paul Moore's allegations are put to former bank bosses appearing before MPs on the Commons Treasury Committee.
11 February 2009: Sir James Crosby resigns from the FSA, although he maintains that Mr Moore's allegations do not have any merit.