"The overall conclusion of this review is that most rules are performing satisfactorily," the BoE's Prudential Regulation Authority said in a statement, adding that it has identified some areas for improvement.

"The PRA intends to consult in due course on changes to its ring-fencing rules after a fuller exploration of the costs and benefits of the options identified," it added.

(Reporting by Huw Jones; Editing by Alison Williams)