And how are they going to make use of that?
I mean employ the "trust and cost effectiveness that blockchain technology brings" to their advantage in practice? As I see it, for that they would need to create another decentralized network which would basically cost them nothing, like the Bitcoin network costs nothing since no single individual or entity grabs all the profits. Of course, the Bitcoin network does cost a lot, but these costs are compensated by profits that are shared in the same network, so it is basically a win-win situation and no costs entailed. I don't think that banks would be able to leave the costs to the network while themselves would only reap profits. In other words, who will be running network for them for free?
http://economictimes.indiatimes.com/industry/banking/finance/banking/big-banks-plan-interbank-blockchain-platform/articleshow/56770736.cms