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Future of banking commission - the full report

An effective banking system is essential to the working of a modern economy. Banking is so fundamental to society that governments have no choice but to support it. It is therefore of profound importance that there is a sustainable banking system which serves the needs of society efficiently and effectively

In December 2009, in the wake of the banking crisis, Which? set up The Future of Banking Commission to find ways of making banks fairer, safer and more accountable to customers - and to the taxpayers who had to fund their rescue.

The Commission gathered evidence from regulators, consumer groups and business leaders before developing a set of recommendations to radically overhaul the banking system. It advised that, to build a sustainable banking sector, significant reforms to the structure, regulation, governance and culture of the industry were required.

Future of Banking Commission - The Full Report 2309 Kb

[On 16 June 2010, the Chancellor of the Exchequer and the Secretary of State for Business announced the creation of the Independent Commission on Banking (ICB), to be chaired by Sir John Vickers. The Commission was asked to consider structural and related non-structural reforms to the UK banking sector to promote financial stability and competition, and to make recommendations to the government by the end of September 2011.

The ICB published its report on 12 September 2011: 

IBC Final Report 1990 Kb | 02 Oct 2017


In welcoming the report, the government committed to responding by the end of 2011.