The new US tax on banks, announced by President Obama yesterday, could cost banks and financial firms in London as much as £11 billion, the Telegraph reports today (January 15th), in a move which could impact on banking graduate schemes.

Britain’s three biggest banks, Barclays, HSBC and Royal Bank of Scotland, are thought to be among those which will be snagged by the new levy.

The ‘financial crisis responsibility fee’, will be imposed over a ten year period on banks with more than $50 billion (£30.7 billion) in assets, and is aimed at recouping some of the £250 billion which the US Treasury has spent bailing out banks.

Mr Obama has stated his intention to recoup "every single dime" which taxpayers have lent to safeguard the future of banks.

Banking graduate schemes at the firms could be affected by the levy, and recruitment numbers could be cut.

The profits of British banks have also been hit by the UK government’s bonus levy, which many firms are choosing to pay on behalf of their employees.

Those who want to find out how the new levy affects their job prospects should make sure they get the latest careers advice.

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