BANKS may save about £10 billion (€11.38bn) in capital and other costs under proposals being considered by the Britain’s Independent Commission on Banking aimed at securing the financia lsystem against the collapse of a single lender, a person with knowledge of the plans said.

ROYAL Bank of Scotland Group, the owner of Ulster Bank, and Lloyds, is facing nationalisation as the deteriorating British economy continues to push it deeper into the mire.