Queen's Speech to start bank reforms


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This week's Queen's Speech will herald legislation on ringfencing banks' riskier "casino" operations from their everyday retail arms, as recommended by last year's Independent Commission on Banking, it is believed.

A White Paper on 14 June will give more details and confirm that normal people's savings will be at the top of the queue in the event of a bank getting into trouble. Draft legislation will be made in the autumn. Controversially, on ringfencing, banks will have until 2019 to comply.