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The British Bankers’ Association said:
“The British Bankers’ Association welcomes the fact that Sir John rules out recommending ‘narrow banking’ and that he is not advocating the break up of the banks. He is focusing on making the system safer.
“The UK banks support proposals to protect customers. Sir John recognises that much is going on internationally, through bodies such as the Basel committee, to consider the capital banks must hold as well as so-called ‘recovery and resolution plans’. It is important that, as banking is inter-connected all across the globe, moves in the UK are linked up with moves worldwide.
“Today’s speech from John Vickers is a considered and intelligent critique from a considered and intelligent man. We will continue to work with Sir John and the Commission as they finalise their recommendations.”
