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Legal Briefing
What does a ring-fenced retail bank look like?
Practice Area: Retail Banking
Sector: Commercial and Retail Banking
Jurisdiction: England & Wales
Published: 27 June 2011
Law Firm: Allen & Overy
Overview
In the Chancellor of the Exchequer's Mansion House speech on 15 June he endorsed the recommendations of the Independent Commission on Banking's recent interim report, including proposals on ring-fencing. This briefing from Allen & Overy sets out some initial thoughts on what a ring-fenced retail bank might look like – how it might be set up, what business it would conduct, and how it might be allowed to interact with the rest of its group.
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