Andrew Bailey has spoken on the future of UK banking. He looked at the prudential pressures on retail banks operating in the UK and the risks they face. He moved on to discuss the transition to the new regulatory regime. He then discussed the development of resolution tools and proposals for structural change, specifically the retail ring fence. He finished by returning to a previous theme that free banking is a dangerous myth. He reiterated he had said this because nothing is free, as the price is built in elsewhere and it is often hard to see what is being charged for which products or services. He said his concern is that this may have encouraged mis-selling and for this reason he wants to review the model of free in-credit banking. (Source: The Future of UK Banking)