Legal woes drain Barclays' capital

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 sold by the bank between 2005 and 2007.

Barclays was also charged £400 million ($558 million) over

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: