It said a a number of measures were being implemented in the final quarter of the financial year and the internal report said it had drawn up an action plan to tackle the debt.

BBC: Sherwood Forest NHS trust debt increases by ?2m

The federal Financial Crisis Inquiry Commission in concluded in its final report two years ago that the 2007-2008 market upheaval, followed by national recession, came from a decade of "pervasive permissiveness" by regulators with expanding debt and high-risk behavior by home buyers and owners, mortgage lenders, investors and financial institutions that repackaged and resold that debt.

WSJ: NY attorney general looks at ratings agencies

In fact, T he Independent Commission on Banking, led Sir John Vickers, released its final report last month on how the UK should restructure its banking sector to prevent another financial meltdown.

FORBES: Where's The Love? Banks Get No Respect In U.S. And U.K.