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