Barclays faces crucial judgement call on structure
The UK bank's universal structure allows it to tap cheap funding. If new regulations remove this advantage, spinning off Barclays Capital could help reduce its stock market discount. But jumping the gun without knowing the full scale of the crackdown could do more harm than good.
This content is for Subscribers only
To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.