Industry has responded to the release of the ICB (Vickers) report. BBA said banks were already on the way to implementing the reforms that have been brought in and that the report endorses. It said the impact of any further reforms should be properly assessed. The IMA welcomed the report, in particular the retail ring-fencing proposals. The Building Societies Association said the report is a vote of confidence in the UK building society model, while the Payments Council said it was pleased the ICB supports its work to improve account switching for customers. It said it would assess the impact of the other proposals on its work. (Source: BBA Responds on Vickers, IMA Responds on Vickers, BSA Responds on Vickers and Payments Council Responds on Vickers)