Page last updated at 18:26 GMT, Monday, 22 February 2010

Select Committee

MPs on the Treasury Committee have been assured that major banks have structures in place to prevent a repeat of the financial crisis, during an evidence session on 22 February 2010.

As part of the ongoing enquiry into banks that are "too important to fail", the Group Financial Director of HSBC, Douglas Flint, told the committee that his bank undertook regular "stress testing" to ensure it was cushioned against any financial shocks.

MPs also took evidence from Gerald Corrigan, the chairman of Goldman Sachs, one of the major US banks to be affected by the financial crisis.

During the hearing he defended the bank's 2001 debt-swap deal with Greece that could have allowed the country to hide its debt problems.

Gerald Corrigan, chairman of Goldman Sachs Bank USA, the bank's holding company, said it was "consistent" with the regulations of the time.

The deal is now being investigated by the EU.

Treasury committee membership

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