UK Banking Commission chief makes case for ring-fencing retail operations
John Vickers, head of the UK's Independent Commission on Banking, on Saturday discussed the desirability of some separation between investment and retail banking, while ruling out a radical structural overhaul that would produce narrow banks.
Vickers, a former chief economist at the Bank of England (BoE), said although the Commission would not advocate a "radical form of narrow banking", the rationale underpinning the idea was appealing as it foisted risk back onto the markets.
Addressing the
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