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Barclays sets aside £500m to pay forex bill

first_imgThursday 30 October 2014 8:52 pm Tim Wallace whatsapp Barclays sets aside £500m to pay forex bill Read This NextTig Notaro Never Looks Right in ‘Army of the Dead’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe WrapRalph Macchio on the Secret to Making Badass ’80s Fight Scenes in 2021The Wrap’iCarly’: Nathan Kress on Preserving Integrity of Original Show, PromisesThe WrapHappy Juneteenth: 10 Movies to Stream That Celebrate Black JoyThe WrapHow Renee Elise Goldsberry Embraced Her Inner Diva for ‘Girls5Eva’The Wrap’The Hitman’s Bodyguard’s Wife’ Takes No. 1 at Box Office From ‘Quiet PlaceThe WrapBill Maher Pokes Fun at Joe Manchin: He’s a ‘Democrat Except on Matters ofThe Wrap whatsappcenter_img Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoYahoo! SearchResearch Car Donation For CharitiesYahoo! SearchUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoGameday NewsNASCAR Drivers Salaries Finally ReleasedGameday NewsUndo Share BARCLAYS is set to pay £500m to settle claims its traders tried to manipulate foreign exchange benchmarks.“These are ongoing discussions with certain regulatory agencies,” said finance director Tushar Morzaria.The news came as Barclays reported pre-tax profits of £1.59bn for the third quarter, up 14.8 per cent on the year.Revenues slid one per cent to £6.4bn, but credit impairments also dipped 29.5 per cent to £509m, and net operating expenses fell one per cent to £4.3bn.By business unit, profits rose 11 per cent in personal and corporate banking to £789m, and 16 per cent to £362m at Barclaycard.But investment banking profit dived 39 per cent to £284m. African profits also slipped nine per cent to £272m.Meanwhile, UK banks are braced for a tougher limit on how much they can lend against a given capital buffer, as the Bank of England will today set out its plans for the leverage ratio.International regulations set the ratio – an unweighted backstop intended to stop banks over-stretching themselves – at three per cent, or 33-times leveraged.This is expected to be changed to at least four per cent – 25-times leveraged – with extra layers possible for the biggest banks. The Bank will also set out a timeline, which could give banks as much as five years to hit the ratio.Barclays’ ratio stands at 3.5 per cent, meaning it has more to do than the other big UK banks. Its shares rose 0.93 per cent yesterday. Tags: Barclays Company Forex rate-rigging scandallast_img

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