British bankers lobby Banking Commission

View of the City from Thames

Angela Knight, the chief executive of the British Bankers' Association, has warned that it would be "quite extraordinary" if the Independent Banking Commission, set up by the UK government to examine the structure of British banking, were to recommend a break with the universal banking model.

In a speech at the Cass Business School on Tuesday, Knight said that such action would put British banking, and the economy, at a competitive disadvantage:

"The Independent Commission on Banking is looking

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