21st Oct 2015 05:42
LONDON (Alliance News) - Barclays PLC has joined the list of banks seeking a waiver on ringfencing rules in the UK, the Financial Times reported, entering talks with the regulator about a transitional deal to make its ringfenced retail bank a wholly-owned subsidiary of the rest of the company, rather than splitting it into a standalone entity.
The bank is proposing that instead of structuring itself as two "sibling" entities on either side of the ringfence under a single holding company, it could have a so-called "mother-daughter" structure, with the ringfenced entity to be owned by the rest of the group.
That would give the investment bank sufficient time to build up enough capital to become a viable standalone entity, the FT said.
https://next.ft.com/content/ce119f7a-775c-11e5-a95a-27d368e1ddf7
By Sam Unsted; [email protected]; @SamUAtAlliance
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