The Chancellor, George Osborne
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Chancellor to call for retail banks to be ring-fenced

The Chancellor, George Osborne, will tell British banks to ring-fence their High Street operations, in his annual speech to bankers.

Mr Osborne says he wants to protect savings and current accounts from another banking crisis by separating retail banking from investment banking.

The legal separation of the functions of big banks was recommended by the Independent Commission on Banking.

Robert Peston reports.

  • 15 Jun 2011
  • From the section UK
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