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ICB's ring-fencing may spell the end for free banking

Industry experts fear ring-fencing of banks' retail operations as proposed in the ICB's interim report may spell the end for free banking in the UK

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Ring-fencing of retail banks could spell the end of free banking for UK customers, according to industry experts. The Independent Commission on Banking's (ICB) report, due out on Monday, is expected to recommend that UK banks ring-fence their retail operations, but the costs of this could leave huge funding gaps for banks.

The ICB's interim report, published in April, called on banks to separate

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