The Commission reviewed the work undertaken over the summer, including progress towards the publication of an Issues Paper in order to stimulate public debate and invite submissions for evidence. The Commission agreed that the paper should be published by the end of September.

The Commission also approved arrangements for gathering evidence, and discussed work on a number of other issues including major trends in finance in recent decades, profitability and competition in banking, options for structural reform, regulatory developments and public support to the financial sector.

The Commission approved the contents of a website which is now available at http://bankingcommission.independent.gov.uk.

The Commissions next meeting will take place on 24th September 2010.

Notes to Editors

1. The members of the Independent Commission on Banking are Sir John Vickers, Clare Spottiswoode, Martin Taylor, Bill Winters and Martin Wolf.

2. The Commissions Terms of Reference are available at http://bankingcommission.independent.gov.uk.

3. Press enquiries during office hours should be directed to the Commissions Duty Press Officer on 07787 059 259.