The Treasury Select Committee (TSC) has criticised the Vickers' report on the UK banking sector, arguing its proposed reforms are impossible to assess as they are unclear and lack detail.
MPs said an interim report from Sir John Vickers' Independent Commission on Banking (ICB) failed to properly explain recommendations to ring-fence banks' retail and investment businesses. The TSC said it found it impossible to properly assess the plans, adding implementing them without further detail would be "a leap in the dark". TSC chairman Andrew Tyrie said a retail ring-fence would entail "a huge change to the structure of the banking sector in the UK", and debates on the changes must not happen "behind closed doors". "It is equally important all the information and arguments ...
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