BoE unveils final plans for ring-fencing banks
Banks have until 2019 to restructure
The Bank of England unveiled final plans for how banks should ring-fence their retail arms today (October 15), but a decision on an additional systemic risk buffer will not come until 2016.
The consultation sets out rules for how banks should structure their activities, with the aim of ensuring core retail services can function independently, even if other elements of the group collapse.
As such, a bank holding company's ring-fenced retail arm must have its own capital and sources of funding
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