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March 6, 2014
06:59 EDTBCSBarclays bonus decision sparks investment arm shake-up calls, FT says
Some of Barclays' shareholders are asking for a management shake-up at the top of its investment banking division, as the group faces an escalating political row over a decision to pay higher bonuses amid decreasing profits, according to the Financial Times, citing comments from CEO Antony Jenkins. Reference Link
News For BCS From The Last 14 Days
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March 3, 2015
05:46 EDTBCSBarclays sees greater clarity on regulatory requirements during 2015
Barclays says that although there remains uncertainty in the global macroeconomic environment, which is expected to persist through the year, Barclays believes there will be greater clarity on regulatory requirements and several conduct issues during 2015. Expects to make further progress in 2015 on the run-down of the non-core unit, towards a targe tof GBP 45B risk weighted assets in 2016. Income in non-core is expected to reduce significantly from 2014 levels. Expects non-core dilution in group's return on equity in 2015 to remain within 3%-6% guidelines. Credit quality across the Barclays Group is expected to remain consistent with recent underlying trends, reflecting broader economic factors in the markets in which the Group operations. Expects to drive further reductions in operating expenses beyond those achieved in 2014, targeting GBP 16.3B for the Group. CTA is projected to be approximately GBP 700M in 2015 and GBP 200M in 2016. Expects net interest margin to be broadly stable in 2015. Expects Q1 income for the Investment Bank to be well ahead of Q4 reported income and approaching that of 1Q14.
05:43 EDTBCSBarclays sets aside foreign exchange provision of GBP 750M in Q4
In FY14, the bank set aside a provision of GBP 1.25B for certain aspects of ongoing investigations involving certain authorities and litigation relating to Foreign Exchange.
05:41 EDTBCSBarclays reports FY14 adjusted profit GBP 5.50B, core profit GBP 6.68B
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March 2, 2015
06:32 EDTBCSLarge EU banks may come under scrutiny for reciprocity, WSJ says
The banking practice of reciprocity -- giving work to competitor banks in order to foster relationships or reward past deals -- may come under investigation by the U.K. Financial Conduct Authority, reports the Wall Street Journal, citing a person familiar with the regulator. The FCA believes the practice may be anticompetitive, but it hasn't yet determined the scope of its investigation into EU banks. Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
February 27, 2015
06:18 EDTBCSBarclays likely to delay forex settlement, FT says
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February 26, 2015
14:01 EDTBCSBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
February 24, 2015
13:07 EDTBCSEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Unionís new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
06:15 EDTBCSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
February 19, 2015
14:21 EDTBCSS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:04 EDTBCSFCA to investigate investment and corporate banking
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