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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It will be mainly dry across the UK, but parts of Wales and England may experience thundery showers.
New report from the Public Accounts Committee says courts are beset by 'long-standing poor performance', causing delays for victims.