8th September 2011
Concern over the the impact of reforms particularly if they end up curbing lending to businesses, mean it's unlikely any recommendations made by Sir John Vickers in his Independent Commission on Banking report are implemented until at least 2015.
But colleagues told the FT that Mr Cameron is prepared to back the changes which are due to be outlined on Monday 11 September.
He has apparently agreed to a compromise which will give banks time to adapt, with George Osborne due to use this parliament to push forward the ICB's proposals.
But will splitting the banks up, as the report is widely believed to suggest, prevent a re-run of 2007/2008?
"If Lehman Brothers had had a ringfenced retail bank do you think the public would have slept happily while the investment banking side crashed? No. Savers would have queued round the block to get their money out, just as they had at Northern Rock a year earlier?