US trading blunder costs Barclays £2.8bn in credit RWAs

- By Lorenzo Migliorato
- 03 May 2022

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Barclays’ credit risk-weighted assets (RWAs) rose £2.8 billion ($3.5 billion) in the first quarter as the bank put in place a number of short-term arrangements to hedge risks from the rescission of structural notes it oversold in the US.

As a result, total credit RWAs swelled 7% to £190.3 billion, equating to an extra £224 million in capital requirements booked for the quarter.

The UK bank revealed in late March it had accidentally issued around $15 billion more exchange-traded notes

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