Britain's government to update banks' ring-fencing regime

LONDON, May ​13 (Reuters) - ⁠Britain's government ​has committed to updating ​the ‌law underpinning ⁠the ring-fencing regime, which ⁠requires banks ​to separate their retail business from riskier ​activities ‌such as investment banking.

In a document ​published Wednesday setting ‌out parliamentary priorities, the government said ‌reforms to the regime would unlock more ​finance for UK businesses.

“Improved ‌competition in Small and Medium-Sized ⁠enterprises' (SME) ⁠lending will ‌help small businesses ​access finance.” (Reporting ​by ‌Phoebe Seers and Muvija M; Editing by Toby Chopra)