Ten Things You Need to Know Today: Friday 22 Jun 2012

1. MOODY'S DOWNGRADES UK BANKS

RBS, Barclays and HSBC are among a number of institutions whose credit rating has been downgraded by Moody's. The Lib Dems' Lord Oakeshott warned banks not to raise interest rates for customers. Referring to last week's offer from the Bank of England of billions of pounds in cheap loans he said: "The banks have just had their mouths stuffed with even more government gold."

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