ICB capital levels would hurt UK banks, critics say

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Large retail banks in the UK, as well as UK-headquartered global systemically-important banks (G-Sibs), could have to hold as much as 22.5% capital under new recommendations published by the Independent Commission on Banking (ICB) yesterday. The report goes some distance beyond what was proposed by the Basel Committee on Banking Supervision last December, and would put UK banks at a competitive disadvantage, critics say.

"Any measures that are above an international norm bring competitive risks.

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