Lloyds boss urges industry to get behind ring-fencing

18th Jun 2015 09:59

The boss of Lloyds Banking Group has called on the banking industry to stop complaining about regulatory changes and back moves to ring-fence high street banks from their investment arms.Speaking at the British Bankers' Association retail banking conference on Thursday, chief executive Antonio Horta-Osorio said that ring-fencing is key to ensuring the sector can support the wider economy."To people who say ring-fencing is too burdensome, I would simply say that having an effective ring-fence can, over time, reduce the level of capital required in the banking sector," he said.From 2019, banks with core deposits greater than £25bn will be required to ring-fence their core activities.