The chief executives of four of Britain's largest banks—HSBC, Lloyds Banking Group, NatWest Group, and Santander UK—have jointly urged the Chancellor of the Exchequer to abolish the ring-fencing regulations introduced after the 2007-08 financial crisis. This call was made through a letter obtained by Sky News and reported by multiple outlets, emphasizing that the time has come to remove these post-crisis banking safeguards. Ring-fencing rules were originally designed to separate retail banking from riskier investment activities to protect consumers and the financial system. Meanwhile, the European Central Bank (ECB) has established a task force led by senior governors to simplify banking regulations across the eurozone, responding to concerns that the region's regulatory framework is becoming overly complex and may be hindering competitiveness. These developments reflect a broader trend of reconsidering post-crisis financial reforms in both the UK and Europe amid ongoing debates about the balance between regulation and economic growth.