Definition of "ring-fence" [ring-fence]

• A fence continuously encircling an estate or some considerable extent of ground; hence, any bounding or inclosing line; a limit or pale. (noun)

The Century Dictionary (Public Domain)

• "The central conclusion, which was flagged in the panel's interim report in April, is the recommendation of a so-called ring-fence around a bank's traditional lending and deposit-taking businesses."
• "World-wide except for Latin America, which Hoover managed to ring-fence for the FBI."
• ""It is a mistake to ring-fence large areas of spending.""