Banks Say Reform Costs Are Understated

Santander and Royal Bank of Scotland say estimates on the cost of financial reform by the Independent Commission on Banking are understated.

  • 02 Dec 2011
Santander and Royal Bank of Scotland say estimates on the cost of financial reform by the Independent Commission on Banking are understated. Santander analysts said the cost is closer to £10 billion ($15.6 billion), compared with the ICB’s projection of £4 billion - £7 billion ($6.23 billion-$10.9 billion). ...

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