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Updates to UK bank ring-fencing regime published by finance ministry

( November 11, 2024, 16:41 GMT | Official Statement) -- MLex Summary: The UK finance ministry has responded to feedback received on the country's new ring-fencing regime. Ring-fencing rules require banks to separate core retail banking services from other activities, in order to protect retail banking from shocks originating elsewhere in the group or in the global financial market. As the minister for financial services, Tulip Siddiq, trailed last month, the government has maintained its original suggestion to increase the ringfencing deposit threshold to 35 billion pounds of core deposits. The finance ministry laid a final statutory instrument in Parliament today.Response to the consultation is attached....

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