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This paper explains the government’s detailed proposals for implementing the Independent Commission on Banking (ICB) recommendations to reform the structure of banking in the UK. The government will introduce all necessary legislation as soon as Parliamentary time allows, and complete all legislation by the end of this Parliament in May 2015. Banks must comply with all of the measures proposed here by 2019, as the ICB recommended. See also the government response to the Independent Commission on Banking (ICB) report.
The government seeks views on the proposals in this White Paper, send responses to HM Treasury by 6 September 2012.