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Britain’s bank ‘ring-fencing’ rules create complexity, review shows -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A view of London’s Canary Wharf Financial District, April 25, 2021. Photograph taken with a drone on April 25, 2019. REUTERS/Kevin Coombs

LONDON (Reuters), Despite not affecting competition overall, capital requirements for Britain’s retail banks create unneeded complexity for customers and regulators. This was revealed by an independent review on Wednesday.

In an interim statement, the Finance Ministry said that “the ring-fencing scheme has not had a significant impact on competition within retail banking”

It stated that the review was working to make recommendations for rules flexibility and reducing unnecessary complexity.

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