Bosses at Lloyds, HSBC, NatWest and Barclays will meet the industry watchdog on Thursday.
, said FCA officials would discuss with the banks the pricing of cash savings and how they communicated with their customers on rates.
Back then, the average two-year fixed mortgage rate was 2.38% and the average easy access savings rate - which is the most common savings account based on £10,000 of savings - was 0.19%, a gap of 2.19%. Banks' profits are generally increased by interest rate rises, as they typically boost net interest income: the amount of money banks can increase borrowing costs, versus the amount they pay out in interest on deposits.
"The worry is you end up in a situation where you have regulators trying to dictate price - that is a dangerous place to be," one chief executive told the newspaper.
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