The Independent Commission on Banking
(ICB), the UK-based and government appointed body to oversee banks,
is going to publish the first of its final recommendations for UK
banking reforms in September.

The ICB will reveal its proposals
regarding possible changes in the banking system on 12 September to
the government, who will then decide whether to go through with the
proposals or adopt them in part.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

In April, the ICB published its initial
proposals. Its recommendations included a ring-fencing of UK banks,
as well as demanding that banks hold 10% of their capital against
assets.

The UK chancellor George Osborne is backing the proposals,
which, if implemented, would break up banks’ retail and investment
banking operations so that the latter could be allowed to fail in
another financial crisis.

The the retail banking business could continue to operate
without beinf affected by the financial failings of the investment
banking unit.

The ICB also
recommended the sale of almost a fifth, or 632 units, of Lloyds
Banking Group’s UK branch network in order to downsize its dominant
market share.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The UK government
holds a 41% stake in the bailed-out lender.

A statement published after ICB’s meeting on 13
June read: “The Commission reviewed and discussed further analysis
of reform options including a UK retail ring-fence, measures to
increase loss absorbency and measures to promote competition in UK
retail banking.”