But, at least for the UK and the rest of Europe, it is a key part of the overall reform package, along with much stronger capital and liquidity standards, loss-absorbent debt (including “bail-ins” by creditors), real resolvability, and so on. There is also the question of how to protect financial stability from risks arising from shadow banking, including the risk of contagion to traditional banking, which ring-fencing helps to contain.
银行结构性改革不能解决所有问题，但是，至少对英国和欧洲其他部分来说，这是整体改革计划的关键部分，其他还包括大大强化的资本和流动性标准、损失吸收债务（包括债权人“自救”（bail-in））、真正的可破产性等。