LONDON (Reuters) - The government on Monday gave its formal approval to plans to ring-fence the country's top retail banks from their riskier investment banking arms, in order to give better protection to taxpayers in case of future financial crises. "The government will separate retail and investment banking through a ring-fence," Chancellor George Osborne told parliament. Osborne was giving his formal approval to plans laid out in September by the Independent Commission on Banking (ICB), which had proposed this ring-fencing model. ...
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