Reuters: Regulatory News: UK's Osborne to announce wide bank review-source

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UK's Osborne to announce wide bank review-source Jul 2nd 2012, 13:00 LONDON, July 2 | Mon Jul 2, 2012 9:00am EDT LONDON, July 2 (Reuters) - British finance minister George Osborne will on Monday announce a broader-than-expected review into the banking industry, looking at culture and standards in the sector as well as the causes of the recent Libor rate-fixing scandal, a source familiar with the situation said on Monday. The UK source said the investigation would be "wider than a narrow review into Libor and criminal sanctions ... (and) will encompass culture and sanctions." Osborne is due to give a statement to parliament at 1530 GMT.

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