Press releases

Deloitte comments on the deadline for near-final ring-fencing submissions

29 January 2016

Commenting on the latest deadline for UK banks to submit ring-fencing plans to the Prudential Regulation Authority (PRA), Simon Zeital, financial services partner at Deloitte, said:

"We have seen banks make a significant investment over the past year to develop their plans.

"This is not a time to relax though. What is clear is that banks are at different stages. It is important that each now marshals its resources and management team behind tackling remaining issues and ensuring implementation remains on track.

"All banks have a number of important points of detail still to tackle, which supervisors will no doubt pore over. In general further focus needs to be given on understanding how fundamental the impact of any particular ring-fencing configuration is on its business strategy and competitive position."

End

Note to editors

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

Fern Hammond
Deloitte LLP
+44 020 7303 2329
+44 078 2689 1752
fhammond@deloitte.co.uk

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