Vedanta speaks with the times – Regulator ‘saved banks billions’ in loan scandal

The FCA has recently published its figures for the ‘uncompensated losses’ faced by businesses that were mis-sold interest rate swaps. According to their calculations, the figure is ‘anywhere between £200 million and £3 billion’.

SMEs were sold interest rate swaps as ‘protection’ against the risk of rising interest rates leaving thousands of business with disastrously high interest costs when rates fell.

Abhishek Sachdev, Vedanta Hedging’s CEO spoke to The Times about his views and said his own ‘conversative’ analysis suggested the uncompensated losses were closer to £40 billion.

The estimate the FCA have provided is completely unrealistic

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Thajeevan Thankarajah

Thajeevan Thankarajah