Banks welcome appointment of Sir John Vickers to the Independent Commission on Bankin

[Legal Beagles]

Banks are fully committed to regulatory reform and to working with the Independent Commission on Banking to ensure control of the banking industry is effective.

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[natweststaffmember]

Re: Banks welcome appointment of Sir John Vickers to the Independent Commission on Ba

Banks are fully committed to regulatory reform and to working with the Independent Commission on Banking to ensure control of the banking industry is effective. Banks know that change is necessary and much is already under way so we look forward to workig with Sir John Vickers to help shape the nature and pace of change.

Chief Executive Angela Knight said:
"We welcome Sir John Vickers to his post heading up the Independent Commission on Banking at this crutical time for the banking industry and global economic recovery.
"We are facing unprecedented change and the work of the Independent Commission on Banking will play a key role in reshaping the structure of banking regulation in the UK. The industry also looks forward to working with Sir John to ensure change is implemented efficiently and effectively and that transition between regulatory authorities does not cause disruption to the financial system.
"We will work with the government on this and all other banking and business issues. The UK has moved further and faster than other major economies on banking reform. We urge the government to ensure all changes take account of the international reform agenda."