The Building Societies Association (BSA) has welcomed the publication of the Independent Commission on Banking Interim Report.

Adrian Coles , BSA director-general, said: “The BSA has been calling for reform of the banking sector in the UK to prevent dominant shareholder owned banks benefiting from implicit government guarantees that enable them to distort the markets in which they operate. We are pleased to see that this is so strongly picked up in the ICB interim report.