BoE unveils draft rules for ring-fencing UK banks
Rules aim to protect core operation in event of crisis
The Bank of England (BoE) today revealed draft rules for the ring-fencing of UK banks' retail operations, in a move aimed at separating a bank's riskiest operations from its core functions.
The Prudential Regulation Authority (PRA), the arm of the central bank responsible for micro-prudential regulation, issued a consultation structured around three main aspects of ring-fencing: legal structure; governance; and the maintenance of core operations in the event of a partial collapse of the banking
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