2
The definition and purpose of ring-fencing transfer schemes (RFTS)
2.1
The Act created an additional form of transfer of business known as a RFTS. It is designed to enable banking groups that will include an RFB to restructure their businesses to comply with the ring-fencing requirements.
- 01/01/2019
2.2
The PRA expects the RFTS process to facilitate a variety of types of transfers. For example, some transfers may be for core activities to be moved across to a RFB. Others may be transfers of ‘excluded’ activities from RFBs into other authorised entities or transfers to non-authorised entities.
- 01/01/2019