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

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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 the capital held for retail and investment operations, and hinted that funding could also be split

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