The main loser is expected to be insurance giant Allianz, which had hoped to snap up various parts of the retail banking activities Deutsche Bank had been planning to sell as part of the merger, analysts said.
Or to put it another way, it is difficult to embark on the disposal of RBS and Lloyds until we know how much more of Lloyds might be hived off by government fiat and how far the profitability of RBS could be reduced by the ring-fence expected to be erected around the retail activities of universal banks like it.
The Barclays disclosures have inevitably fuelled calls for a full separation of retail and investment banking activities.
The Retail International segment comprises of bancassurance activities in foreign markets and insurance products such as car, property and casualty, marine, and fire insurance.
Darling also took aim at proposals being bandied about to separate the retail and investment banking activities of banks in an effort to prevent the need for taxpayers to be forced to bail out banks in the future.
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The Commission, set up by the Treasury, recognises there would be great technical difficulties for big banks, such as Royal Bank of Scotland and Barclays, in insulating their retail activities, that concentrate on providing services to households and smaller businesses, from investment banking.
To avoid endless debate between regulators and banks, the Vickers commission recommended higher capital standards in retail banks to encourage banks to leave most of their activities outside the ring-fence.
In the UK, the Vickers Report recommended that UK retail operations of domestic banks be fenced away from their trading activities by 2019, and subject to higher minimum capital requirements.
When compared to other national activities, one can see why this weekend is the pinnacle of retail transactions.
Mashreqbank psc is a United Arab Emirates-based bank engaged in the provision of retail banking, commercial banking, investment banking, Islamic banking, brokerage and asset management activities.
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