UK government, led by city minister Tulip Siddiq, plans to revise bank ring-fencing rules to boost competitiveness and economic growth.

The UK government, led by city minister Tulip Siddiq, plans to revise bank ring-fencing rules to boost competitiveness and economic growth. Originally established post-2007-09 financial crisis, the changes will increase the retail deposit threshold for ring-fencing from £25 billion to £35 billion and introduce exemptions for certain banks. These reforms aim to allow ring-fenced banks to operate internationally and attract investments in small enterprises. The Bank of England has previously deemed the current rules satisfactory.

October 14, 2024
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