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

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