Barclays leverage explosion baffles experts

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Regulatory experts have been baffled by last week's announcement from Barclays that changes to the incoming leverage ratio rules were behind its £5.8 billion rights issue. The accompanying 29-page plan is full of numbers that seek to explain what happened, but specialists at other banks say it falls tantalisingly short of an answer.

"There is data there that you can use to speculate about what is going on, but I have spent some time looking at it, and it just isn't possible to reverse-engineer,"

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