Turner says that the FSA is keeping a watchful eye over the market and that the regulator is prepared to step in again if needed to protect retail depositors and financial stability.
In an interview with Radio 4 Turner says: “We are not necessarily right at the end of this process.
“At the moment we believe our other high street banks are well capitalised and in a reasonable condition but we will have to keep this situation under review.
“Several times over the last year regulators and banks and treasuries have believed that the situation has reached a full resolution and that we can be confident that there is a turning point, and on several times they have been disappointed.
“We hope that we now have a turning point but we don’t know, therefore we keep it under review.”