“The ringfence to be put around Britain’s retail banking operations – the core recommendation of the government-appointed Vickers Commission – will be far stricter than many bankers had anticipated, according to people familiar with the report. Next mont’s final report by the Independent Commission on Banking, chaired by Sir John Vickers, will set the ringfence very high, the people said. That will bar group’s investment banking operations from securing funding advantages from their sister retail banking operations in a move that could be particularly disruptive for the likes of Barclays and Royal Bank of Scotland.”

Read the full article at The Financial Times