Barclays Says U.K. Court Has Approved Ring-Fenced Bank Program
March 09 2018 - 12:04PM
Dow Jones News
By Carlo Martuscelli
Barclays PLC (BARC.LN) said on Friday that a U.K. court had
approved of its plans to set up a ring-fenced bank, Barclays Bank
UK PLC, which will be separate from Barclays Bank PLC.
This will be done in order to comply with banking reforms aiming
to strengthen the U.K. financial system after the 2008 financial
crisis, Barclays said.
It will set up the ring-fenced bank in April 2018, ahead of the
Jan. 1, 2019 deadline for implementation of ring-fencing, it
added.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
March 09, 2018 11:49 ET (16:49 GMT)
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