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By John Gapper
Published: April 13 2011 21:13 | Last updated: April 13 2011 21:13
Sir John Vickers seemed irritated this week by the reaction to the interim report of the Independent Commission on Banking. Shares in banks rose on relief that its proposal to ringfence retail banks from investment banks were not more harsh, while Bob Diamond, chief executive of Barclays, made no repeat of his past threats to resettle his bank elsewhere.
Mr Diamond and Douglas Flint, chairman of HSBC, had feared a Glass-Steagall style separation of banks, or the imposition of draconian capital charges on trading and risk-taking. The commission, chaired by Sir John, left the latter to global regulators, and the FT's Philip Stephens heard the "clinking of glasses in the Barclays boardroom".
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