Editorial: And then there was one

Author: | Published: 30 Oct 2015

The UK's plans to ringfence its largest banks is looking like an expensive, and ultimately futile, exercise.

The Prudential Regulatory Authority's (PRA) latest consultation paper, released last month, adds further detail to the requirements for the UK's largest lenders with core deposits over £25 billion ($38.7 billion). And depending on who you speak to, the plans either indicate a much-needed softening from the PRA or a dogged determination to punish banks for past misdeeds.

The positives first: banks have won a concession within the...