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MPs threaten to use parliamentary powers to force disclosure of critical RBS report

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She said: “If the FCA declines this proposal, or if the legal adviser cannot provide the Committee with the assurances it needs, the Committee may use its formal powers to require the FCA to produce the report.

“In any case, the long-awaited summary should be published as soon as possible.”

More than 12,000 companies were transferred into GRG between 2007 and 2012.

A group of small businesses pursuing a legal claim against RBS over alleged GRG mistreatment have called for FCA chief executive Andrew Bailey to resign over the watchdog not publishing the report.

But Mr Bailey has previously argued the public interest would not be “best served by us publishing the full report”.

An FCA spokesperson said: “The FCA has committed to publishing a detailed summary of the GRG report. To provide assurance on the summary we previously asked an independent external Counsel to confirm that it is a fair and balanced account of the full report’s findings.

“We welcome further dialogue with the TSC on providing assurance about the publication of the summary.”

RBS has said the FCA made it clear the small companies transferred to GRG were “exhibiting clear signs of financial difficulty” and that in a “significant majority of cases, it was likely RBS’s actions did not result in material financial distress”.

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