Bank of England said to be reviewing Barclays’ handling of private credit loans
Concerns financial contracts known as derivatives were incorrectly logged, potentially boosting Barclays’ profits The Bank of England is reportedly looking…
The Guardian reports: Concerns financial contracts known as derivatives were incorrectly logged, potentially boosting Barclays’ profits The Bank of England is reportedly looking into Barclays’ handling of loans linked to the embattled private credit sector.
The Bank’s regulatory arm, the Prudential Regulation Authority (PRA), started reviewing the matter this year after concerns were raised by a Barclays insider, according to the Financial Times.
This business story centres on the United Kingdom. Names and organisations mentioned in the coverage include Barclays’, Bank of England and Prudential Regulation Authority.
Why it matters
Moves like this are watched by investors, employers and consumers because of their potential effect on markets and the wider economy.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- Barclays’, Bank of England, Prudential Regulation Authority, PRA
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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