Ring-Fencing Was a Good Idea That UKĀ Banking No Longer Needs
(Bloomberg Opinion) — UK banks want the government to abolish a key piece of post-financial crisis regulation that forces them to keep ordinary depositorsā money legally separate from their trading and investment-banking business. This uniquely British setup, known as ring-fencing, limits the kind of lending banksĀ can do and raises their costs. Well, most lenders donāt…