The Liberal Democrat Business Secretary, Vince Cable, is also against ring fencing, although for different reasons.
To our knowledge there is no evidence of a tightening of formal regulatory ring fencing in those countries during the crisis.
There is a major move going on in Europe right now to establish what they call ring fencing for their major banks.
So in the knowledge that there's little they can do to prevent ring fencing, the BBA is looking to the future and the implementation side of things.
The Vickers Report in the UK says that we should have ring fencing, dividing the (government insurance on deposits) retail banks from the investment banks.
FORBES: Vickers, Bank Ring Fencing, Glass Steagall, They're Not the Answer
If the problem had been that insured deposits were paying for lunatic capital markets bets which went wrong then OK, ring fencing, separation, might be a good idea.
FORBES: Vickers, Bank Ring Fencing, Glass Steagall, They're Not the Answer
Chair of the committee Helen Mary Jones AM raised concerns over the soft ring fencing of money which she compared to a soft boiled egg which "hangs together until you break the shell".
Is it possible that parent companies have stabilised and even increased local lending because of the ring fencing put in place by regulators during the crisis, rather than because of deliberate management choices?
The ring fencing of larger service budgets inevitably means that services which are the "meat and drink" of local authorities such as waste collection, street lighting and cleansing, parks and leisure will find the next period incredibly challenging.
Under the draft legislation, the Treasury would have the authority to decide which banks ring-fencing should apply to, as well as specific activities to be undertaken within ring-fenced banks.
There are also ring-fencing proposals being made in France, Germany, and by the European Commission.
He seems to see ring-fencing social spending as a way to cement his legacy.
Mr Fox urged an end to the ring-fencing of budgets for the NHS, schools and international development.
BBC: Budget 2013: Liam Fox urges spending freeze and tax cuts
Glyn Davies (Mid and West Wales, Con) wanted to know the FM's policy on ring-fencing local authority budgets.
BBC: NEWS | Programmes | BBC Parliament | Wales: First Minister's Questions (27/04/04)
It will probably urge a ring-fencing of banks' retail operations from their investment arms, with limits on lending between them.
Ring-fencing is going out of fashion, and some banks are thinking of using derivatives to hedge against future market declines.
The single gravest error in this budget, and it is one that Mr Osborne will come to rue, was ring-fencing health.
The economists warned that ring-fencing some areas would "turn the screw" on every other sector that did not benefit from that concession.
Partly as a consequence, there has been criticism of ring-fencing by the business lobby group the CBI, and by the British Bankers Association.
Andrew Tyrie MP, the commission's chairman, told Today presenter Evan Davis they wanted to give ring-fencing a chance and to change the culture in banking.
He is also urging an end to the ring-fencing of certain budgets, including the NHS, schools and universal benefits such as the pensioners' winter fuel allowance.
So while ring-fencing gets much of the attention in the final Vickers Report, the measures on improving competition within the banking sector are worth close scrutiny too.
On the Vickers Report on banking for instance, Scotland's largest company looks like it faces some of the biggest changes from ring-fencing investment banking from the mainstream.
The key point about this ring-fencing is that it is simply an estimate by the Treasury of the level of spending needed to maintain services as they are.
On the need for banking reform, Mr Osborne maintained the government's position that ring-fencing retail banking from investment banking was necessary to prevent future government bailouts of failed banks.
Only in this way it is possible to decide any policy intervention based on a broad and systemic perspective, even if this had to entail ring-fencing (see Barba Navaretti et al. 2009).
Fox will also call for an end to the ring-fencing of budgets for the NHS, schools and international development, and the end of universal benefits such as the pensioners' winter fuel allowance.
To do this, Britain's bank managers are attempting to draw a line under the scandals by reviewing strategies, ring-fencing their operations and disposing or unwinding of assets deemed as risky and loss-making.
She wants parental leave when a baby is born to be reformed along mainly Nordic lines: ring-fencing half a year off for mothers and another half-year for fathers, on a use-it-or-lose-it basis.
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