UK banking commission keen on ring-fencing retail operations

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A commission set up to recommend how the UK's financial landscape should be redrawn has backed capital ratios of at least 10% and the ring-fencing of banks' retail operations.

Independent Commission on Banking said in its interim report, out on Monday, that while both retail and investment banking carried risks, they presented somewhat different policy challenges. "For the most part, retail customers have no effective alternatives to their banks for vital financial services," it said. "Customers

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