Bank chief executives have been summoned to explain to the UK finance regulator why they are being so slow to pass on higher interest rates to savers when mortgages are repriced daily.
Chiefs of Lloyds, HSBC, NatWest and Barclays are to meet the Financial Conduct Authority (FCA) on Thursday less than two weeks after they held similar discussions with Chancellor Jeremy Hunt.
A report in the FT said the FCA meeting would cover the pricing of cash savings and how they communicate with their customers on rates.
"We do think there is more value that can be provided to consumers, we are not happy with some of the lower savings rates we see, and we want banks to be supporting customers... and people to be able to make informed choices," the FT wrote, citing a source at the FCA.
The gap between average mortgage and savings rates currently is one of the widest since 2021 when interest rates started to go up, according to a report last week by financial data firm Moneyfacts.
On Monday, the average two-year mortgage deal hit 6.42% and the savings rate was 2.43%, a gap of 3.99%.
The Chancellor has said banks are "taking too long" to pass on increases in interest rates to savers.
In February, the chief executives of Lloyds, HSBC, NatWest and Barclays also faced a wigging from MPs over the poor rates they were offering savers at that time.