Natwest and Lloyds to rake in millions from a ring-fencing shakeup

Natwest and Lloyds to rake in millions from a ring-fencing shakeup

Natwest and Lloyds are set for a major cash bump if Chancellor Rachel Reeves rips up the ring-fencing regime imposed on lenders, fresh data shows. FTSE 100 banking giants have lobbied the Chancellor to axe the system, which they described as a “drag on banks”. The bosses of HSBC, Lloyds, Natwest and Santander slammed the regime as “redundant” and obstructing the firm’s “ability to support business and the economy” in a letter to Reeves in April.…