Legal woes drain Barclays' capital
A $2 billion fine from the US Department of Justice contributed to a 60bp CET1 capital ratio decline
Fines and legal costs took a toll on Barclays’ Common Equity Tier 1 (CET1) capital ratio, which dropped 60 basis points to 12.7% in the first quarter – below the bank’s target level of 13%.
The UK lender paid civil penalties of $2 billion in March after reaching a settlement with the US Department of Justice to resolve claims concerning the mis-selling of residential mortgage-backed securities
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