UK banks lament costs of ring-fencing operations

looking up into the clouds between buildings in the City of London

The UK's largest banks have said recommendations to implement a ring-fence around retail operations and raise capital requirements above the international required standard underestimate the financial burden it will have on banks, according to findings from a parliamentary committee published on Thursday.

The report from the House of Lords Economic Affairs Committee, based on evidence given by the heads of the UK's major banks on the Independent Commission on Banking (ICB) report, found that

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