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The commission, chaired by former Bank of England chief economist John Vickers, said retail banks should be "legally, economically and operationally separate" from the parent companies. It also recommended that retail banks should be required to boost the amount of equity capital they hold. The commission estimated its proposals would cost the banks up to 7 billion pounds ($11 billion) a year, and critics of the plan say it could slow lending at a time when the economy is in danger of sliding back into recession.
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