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Maintaining the stability of the UK financial system

HBOS - Lloyds TSB merger proposals

On 18 September 2008, the Secretary of State for Business and Enterprise issued an intervention notice in the proposed merger of HBOS and Lloyds TSB on public interest grounds to ensure the stability of the UK financial system.

The Office of Fair Trading delivered its report on the merger to the Secretary of State on 24 October 2008.

The Secretary of State announced on the 31 October 2008 that he will not refer the proposed merger to the Competition Commission.