The FSA comes under widespread criticism in the report saying its failures in the saga "amount to a serious indictment" of bosses at both the bank and the regulator.
The committee also hit out at the FSA for needing to be strong-armed into producing a report into RBS, published last December.
The FSA originally decided not to produce a report into the RBS collapse until bowing to Parliamentary pressure.
But the committee found the FSA's report did give a fair picture of events surrounding the bank failure and subsequent bailout.
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Dozens of flood alerts have been issued for swathes of the country as heavy downpours and severe gales are expected.
Four migrants who tried to cross the Channel in an inflatable dinghy have reportedly been rescued by French coastguards.
The victim, a man in his 40s, is being treated in hospital for "life-changing" injuries after the attack by two men who remain on the run.