The state-backed group is concerned that the cost of operations after ringfencing takes effect may outweigh the benefits, forcing the group to shut investment banking activities and operate as a retail business alone, said sources familiar with Lloyds.
The bank and the
Ringfencing for banking groups in the
The FT quoted people familiar with the matter saying Lloyds was in talks with the regulator to allow it to operate a "lower" ringfence so its retail and investment banking activities would not be rigidly separated.
"Given that we are predominantly a retail and commercial bank, we would expect to be less affected than other major
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