The ex-chairman of HBOS has admitted the bank took on too much risk in the run-up to the financial crisis in 2008.

BBC: HBOS ex-chairman Lord Stevenson admits errors

He attacked the bank's increasingly aggressive work culture of the previous 20 years, which, he said, focused too much on making a quick buck instead of upholding the values and long-term reputation of the bank.

BBC: Barclays boss tells staff 'sign up to ethics or leave'

All that said, the banks that regard themselves as strongest have a particular incentive to resist pressure from the Bank of England and the Treasury not to take too much of the money on offer in tomorrow's auction and in the so-called Funding for Lending scheme that will be launched next month.

BBC: Downgraded UK banks, bonuses and Bank of England support