Barclays shifts problem assets into offshore fund
The UK bank has sold $12bn of structured credit assets to a fund run by two ex-Barclays bankers in a bid to protect itself from mark-to-market downside on the assets.
Barclays has restructured $12.3 billion of credit assets by converting its holdings into a loan to the buyer of the assets, a move it claims will remove mark-to-market risk and generate more stable returns for the bank.
On September
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