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Report due out on the risky business of UK banks

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The UK's five biggest banks; HSBC, Lloyds, RBS, Barclays and Standard Chartered, will come under intense scrutiny in a KPMG report due out on Monday the 8th of September. 

So is it safe to get back into banking waters? The report is expected to update investors on the level of risk UK banks still face. Saxo TV's Lea Jakobiak speaks to two London-based traders who share their thoughts on how to be positioned when it comes to these five large financials. Bill Blain from Mint Partners says that although things are looking up for these companies, most of them still face challenges and risks from possible legal action linked to Libor fixing or regulatory breaches. 

Piers Buckworth Global Equity Sales Director at Mint Partners is more negative on the prospects for UK banks, he suggests RBS as a "decent short candidate" based on the stream of bad news which has overshadowed the performance of Britain's biggest banks in recent months.