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BREAKING NEWS: Crosby has resigned from the FSA.

The watchdog has issued its own statement:

"The Financial Services Authority can confirm that specific allegations made by Paul Moore in December 2004 regarding the regulatory risk function at HBOS were fully investigated by KPMG, which concluded that the changes made by HBOS were appropriate. The chairman of the FSA will write to the Chancellor of the Exchequer by the end of today, setting out the details.

"Sir James Crosby has decided to resign from the board of the FSA, for the reasons he has set out in his public statement, and we would like to thank him for his very significant contribution to the FSA over the past few years."

The shuters have come down at RBS. No more comment or clarification while investigation progresses.

Good question. We've been in touch with RBS in the UK to get their side of the story but it's been referred back to the US. So far, no word. If we get any more news, we'll report back.

Truly innovative application of GPS/mobile technology - but possibly only of use to the short-sighted? Most ATMs are fairly well-signed. If there's an ATM in plain sight you're just as likely to spot it through a cursory scan with your own eyes.

Similar rumblings about drugs trade in the reinsurance industry prompted my good friends at satirical title Riskbitz to pen this little gem - which I offer as a special preview to Finextra readers:

RISKbitz latest appointments news

Ian Cheech and Simon Chong have joined Bermuda spark-up SmokeRe from California-based Pot Re as like, joint heads of something or other. The veteran risk tokers said the appointments were a complete shock to them as they don't remember signing anything. "Man, we laughed like crazy sons of bitches when we were told we had blagged a gig in Bermuda of all places," Cheech said. "Where the hell is Bermuda?"

Told they would be in charge of the excess department, Chong said that the "gig" sounded cool. "Excess is like one my specialities," he giggled, exhaling noisily. "I remember once we were in Amsterdam. Actually, I forget now what happened in Amsterdam."

Cheech said he was looking forward to wearing loud shirts, "big old shorts" and kicking back on the beach with the other reinsurance dudes. "Man, it's going to be a trip just rapping with Chong and brokers on the beach and turning on to the whole risk thing," he said. "So long as it doesn't like totally freak us out."

Asked about the increasing attention on the industry from regulators and supervisors, Chong said that, "If you're cool with The Man, The Man will be cool with you. I know he's been sending out some bad vibes since the bank dudes screwed up but The Man needs to chill a little. That's all, dude."

Cheech agreed, pointing out that positive energy from supervisory authorities would bring instant karma to the markets. Pressed for his opinion of Solvency 2, Cheech said, "Man I never touch that solvency stuff, I'm only turned on by organic growth, if you catch my meaning man."

More of the same at www.riskbitz.com.

With a focus on Tier 2 and Tier 3 banks in emerging economies, Misys' business model is relatively sheltered from the travails afflicting the world's top banks. Rival vendors Temenos and i-flex, which have a bigger slice of Tier 1 business, may not fare quite so well.

Don't forget, he's also the guy who let Lehman go to the wall, triggering the credit crisis in the first place.

You forgot to mention the TARP fund for distressed banking executives

The LloydsSTB twitter domain name has already gone, as have those relating to most of the other major banks. I suspect the work of some enetrprising cybersquatters, but I'd be happy to be proved wrong.

Does this mean Lee is in - or out - of the running for Clara Furse's job at the LSE? I guess we'll have to wait and see.