UK ring-fencing before election, says Osborne
The UK government on Thursday said it would legislate on the ring-fencing of retail and investment banks before the next general election, although financial institutions could be given longer than originally thought to implement the measures.
HM Treasury released a white paper on banking reform, saying it was committed to passing primary and secondary legislation in this parliament on reforms recommended by the Independent Commission on Banking.
Chancellor George Osborne and business secretary Vince Cable said in a statement accompanying the paper that ring-fenced banks
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