However, life is a lot easier for me if I assume that the sun will rise in the East tomorrow morning, that my phone will periodically ring with consulting clients, and that my bank will process checks that I deposit.

FORBES: Uncertainty and Risk Management: What to Do About Black Swans?

The ring-fence structure makes a distinction between the bits of banking that need saving (deposit-taking banks, payment systems and the like) and the bits that do not (bonus-gorging investment bankers).

ECONOMIST: Banking reforms

The Prudential Regulation Authority, which will become the UK's regulator for deposit-taking institutions in April under the Bank of England, would have the power to ensure the ring-fenced bank to carry on with its business.

BBC: Business