UK actuarial consultant, Lane, Clark & Peacock has challenged Banco Santander Central Hispano to publish its accounts under international accounting rules (IAS19) in an escalation of a dispute over the size of the bank's pensions deficit.

The actuaries challenge came after Santander dismissed a report by Lane, Clark & Peacock disclosing the bank had a €9.4bn ($11.3bn) hole in its pensions obligations - one of the largest deficits in Europe.