The bosses of leading UK commercial banks are set to face questions from MPs on a range of issues including the government's mortgage market proposals and branch closures.
However, the key focus is likely to be on whether the banks are passing on the increases in interest rates made by the Bank of England to savers.
The Treasury select committee noted that basic savings accounts at Barclays, HSBC, Lloyds Banking Group and NatWest Group earn between 0.5% and 0.65% interest, and lawmakers are expected to ask why these rates are so low.
The Bank of England has been steadily raising interest rates over the past 14 months from a record low of 0.1% to 4% as of last Thursday.
However, savers have yet to see significant increases in the interest rates offered by the banks.
The Times reports that each bank is expected to defend their rates by pointing to market conditions, as they compete for deposits and lend at a higher rate than they pay savers.
Meanwhile, the Guardian notes that savers are being advised to shop around for better rates, with some smaller banks offering up to 1.5% interest.
Barclays CEO, Jes Staley, told the committee that the low interest rates were due to the fact that the bank was losing money on savings accounts.
However, the Mirror reports that Staley is facing criticism for earning £5.9m in 2021, while savers earn just 0.3% on their accounts.
NatWest CEO, Alison Rose, defended her bank's rates, arguing that they were in line with industry standards.
Lloyds boss, Charlie Nunn, said that savers had benefited from better rates on fixed-term accounts, and HSBC CEO, Noel Quinn, emphasised that the bank had a range of products offering different interest rates.
Overall, the banks are likely to face tough questioning from MPs about why savers are not benefiting from the Bank of England's interest rate hikes.
While some banks may argue that market conditions limit their ability to offer higher rates, others will face criticism for high executive pay and low savings rates.