Harriett Baldwin MP, the chair of the Treasury Committee, said:"This morning, we have further evidence that high street banks are making hay out of high-interest rates while still offering little to loyal savers.
"The FCA promised action yesterday under the Consumer Duty and we will be monitoring progress carefully.Writing in HSBC's interim report, Mr Quinn said:"In the UK, we have seen limited signs of stress in the mortgage book, although we are acutely aware of the day-to-day financial challenges that some of our customers face.
"With more mortgage customers due to roll off fixed-term deals in the next six months, and further rate rises expected, tougher times are ahead. "We will continue to communicate regularly with our customers, listen to their concerns, seek to offer them help should they want it and ensure they are aware of the range of products available to them."