Failing of French bankers' domain outlined by their newspaper (6)

I believe the answer is:

defect

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'failing' is the definition.
(I've seen this before)

I don't understand the remainder of the clue.

(Other definitions for defect that I've seen before include "go over to the other side" , "Go over to the enemy - it's a flaw" , "Imperfection - go over to the enemy" , "Desert - flaw" , "Deficiency" .)

I've seen this clue in The Independent.

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