Senior civil servants will meet this week to decide whether ex-Royal Bank of Scotland boss Sir Fred Goodwin should be stripped of his knighthood, David Cameron said today.

A direct criticism of Sir Fred Goodwin in the Financial Services Authority's report on the near-collapse of RBS was removed after a final draft was shown to the former banking boss's lawyers, MPs were told today.

Poor management decisions and the last Labour government's light-touch regulatory regime were key factors in the near-collapse of Royal Bank of Scotland, a long-awaited report by the City watchdog said today.

Sir Fred Goodwin's "assertive and robust" management style was flagged as a potential risk to RBS as early as 2003, the FSA said today.

Business Secretary Vince Cable today said he will continue to look into whether any Royal Bank of Scotland directors should face disqualification following today's report into the bank's failure.

The Financial Services Authority will today hold its hands up and admit serious shortcomings in the way it handled the Royal Bank of Scotland and the banking system in the run-up to the multi-billion pound taxpayer-funded bailout of the Edinburgh-based giant.

The FSA will tomorrow publish its report into the near collapse of Royal Bank of Scotland and is expected to say the bank lost sight of "core fundamentals of capital, liquidity, asset quality and risk" for more than a year before it was rescued by the Government.

After a year of tussles with lawyers, politicians and bankers, the Financial Services Authority will finally publish its report into the near-collapse of Royal Bank of Scotland on Monday.

Who should be most nervous about the publication on Monday, finally, of the Financial Services Authority's report into the collapse of Royal Bank of Scotland three years ago? The answer, though it may surprise you, is not the former executives of RBS, whose poor decisions brought one of the world's largest financial institutions to its knees. Rather it is senior officials at the regulator itself who have most to lose.

Outlook Who should be most nervous about the publication on Monday, finally, of the Financial Services Authority's report into the collapse of Royal Bank of Scotland three years ago? The answer, though it may surprise you, is not the former executives of RBS, whose poor decisions brought one of the world's largest financial institutions to its knees. Rather it is senior officials at the regulator itself who have most to lose.

Bring out the foul weather gear, prepare to reduce sail, be ready for 24/7 crashing and banging. The Volvo round the world race will be barely an hour old on Saturday before the fleet of six charges south into what will become an increasingly upwind slog as it heads for the Straits of Gibraltar.

Royal Bank of Scotland swung into the red yesterday as the taxpayer-controlled bank took a £733m hit on Greek bonds and revealed plans to cut about 2,000 jobs.