The implementation of new banking reforms is not expected for a "significant amount of time", according to a document accidently leaked by a Santander boss.
Santander chief executive Ana Botin was pictured outside Downing Street yesterday holding the document, which suggests her bank is anticipating the reforms will be delayed.
She was there for private talks with George Osborne ahead of the release of a report by the Independent Commission on Banking (ICB) into the future of the industry next week, the Daily Mail reports.
The ICB is expected to propose significant reforms, including the ring-fencing of 'casino-banking' investment divisions from the retail divisions.
However, the country's major banks have resisted the proposals, suggesting they could hamper the economic recovery.
The leaked document said: "It will take a significant amount of time before any changes are legislated."
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