Clifford Chance

The UK Independent Commission on Banking's Interim Report

11 April 2011

The Independent Commission on Banking (ICB) was appointed by the UK coalition government shortly after it came to power last year. On Monday 11 April, the ICB published its Interim Report.

The ICB's current view is that all systemically important banks (including wholesale and investment banks) and any other large UK retail banks should have a minimum capital ratio of common equity tier 1 to risk weighted assets of 10%. The ICB provisionally recommends ring-fencing UK retail banks into separate subsidiaries and has confirmed that it will not pursue a number of more severe structural measures.

The ICB's Interim Report also looks at, and suggests means to tackle, the perceived weakening of competition in, and perceived barriers to entry to, the UK retail banking market.

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