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Banks Likely to Escape Breakup by U.K. Commission, Analysts Say

The British government commission that convenes tomorrow is unlikely to propose breaking up the country’s biggest banks after three of the five biggest lenders threatened to leave the country rather than accept change.

John Vickers, the former Bank of England economist asked by the coalition government to decide whether lenders should separate their consumer and investment banking divisions, will tomorrow start collecting evidence. He will deliver his final report to Chancellor of the Exchequer George Osborne and Business Secretary Vince Cable next September.