UK to ease bank ring-fencing rules soon
14/10/2024 19:41
Britain will soon take steps to ease so-called ring-fencing rules on banks introduced after the 2007-09 financial crisis, in order to improve the competitiveness of the country's banking sector, city minister Tulip Siddiq said on Monday.
The move comes as Britain hosted an investment summit on Monday designed to boost the country's appeal to global investors.
The ring-fencing rules - which separate consumer lending operations from more volatile investment banking - were introduced after Britain's taxpayers had to bail out several failing lenders in the financial crisis.
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