Banks may save £10bn under proposals
The commission may suggest banks segregate their consumer banking operations and capitalise them separately, a cheaper alternative to earlier proposals outlined by ICB chairman John Vickers in January, said the person, who declined to be identified.
The proposal would lead to one-time costs in the low billions of pounds rather than the £15bn maximum estimated annual cost of full-functional or geographic segregation, where banks would turn their units into stand-alone subsidiaries, two people with knowledge of the talks said.