these include any liabilities in relation to products that have moved to the ring-fenced bank under the ring-fencing transfer scheme, the sale of payment protection insurance to any uk customers of barclays bank plc and the sale of interest rate hedging products which are linked to products such as loans that have transferred to the ring
barclays successfully completes ring-fencing transfer scheme on 9 march 2018 barclays was granted approval from the prudential regulation authority and the high court of justice of england and wales to implement the 'ring-fencing' of its day-to-day banking services of barclays using a legal process called a ring-fencing transfer scheme the
rationale for bank ring-fencing transfer schemes rfts ring-fencing of day-to-day banking services eg current accounts, savings and payments and separation of retail business from investment banking was one of the reforms brought in by the government to strengthen the financial system following the financial crisis of 2007/2008.
barclays ensures that employees of all backgrounds are treated equally and contribute fully to our vision and goals. we believe every one of our employees, clients and stakeholders brings a set of unique talents and perspectives to the table.
what are barclays’ uk ring-fencing plans? following the court’s approval on 9 march 2018, we transferred our uk retail and business customers to our ring-fenced bank in april. learn more here .
barclays is the first uk bank to receive approval for its ring-fencing scheme, which follows the 2011 recommendations of the independent commission on banking, established as a response to the 2008 financial crisis.the restructure will take effect on 1 april 2018.