U.K. Chancellor of the Exchequer George Osborne

U.K. Chancellor of the Exchequer George Osborne

Jason Alden/Bloomberg

U.K. Chancellor of the Exchequer George Osborne said, “My message to the banks is clear: If a bank flouts the rules, the regulator and the Treasury will have the power to break it up altogether - full separation, not just a ring-fence.”