The Co-operative Bank is the subject of probes by the PRA and FCA.
Two probes have been launched into the troubled Co-operative Bank.
The Bank of England’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have announced they are progressing enforcement investigations into the institution.
The PRA said its probe would “consider the role of former senior managers” at the lender, which underwent a rescue last year after a £1.5 billion black hole was discovered in its finances.
The shortfall was widely attributed to problems arising from the takeover of the Britannia building society and the failed bid to acquire more than 600 branches from Lloyds.
Questions about the management of the bank were also raised following drug revelations surrounding former bank chairman Paul Flowers.
In a separate statement, the FCA said it was also probing “decisions and events” at the lender up to June last year.
The PRA said no further details of its probe would be published until it had reached its conclusions.
A separate review of events at the bank announced by Chancellor George Osborne will not begin “until it is clear that it will not prejudice any actions that the regulators may take”.
