UK banks need to focus on lending and paying back taxpayers, and should not be distracted by more regulation, the head of the British Bankers' Association has said. Angela Knight said regulatory change could undermine the recovery.

Her comments come ahead of the Independent Commission on Banking's final recommendations due next month. The commission has already recommended ring-fencing banks' retail operations from their investment banking arms. Last month, Business Secretary Vince Cable indicated that banks could still be forced to separate entirely their High Street businesses from their investment divisions.
Bank bailouts

"From now on, the UK's efforts must be focused on the economic recovery," Mrs Knight said. "This means allowing the banks to finance the recovery first, pay back the taxpayer next, and only then turn to further....Read more on this story---> BBC News - Bank regulation says Angela Knight