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Treasury appoints Crosby to chair credit crunch working group

Former HBOS chief executive Sir James Crosby has signed on to chair a Treasury credit crunch working group.

The group will look at ways to boost confidence and encourage people to invest in the mortgage-backed securities market again.

It is believed Crosby, who left HBOS in 2006, will recruit other prominent members of the mortgage and investment industries. The group is expected to publish an interim report by the summer.

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