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Barclays PLC (BCS)

  • Dec. 10, 2012, 6:03 AM
    The Bank of England and FDIC unveil the first cross-border plan to deal with too-big-to-fail banks that start...failing. Senior management would be sacked, shareholders would be wiped out, and unsecured bondholders "can expect that their claims would be written down to reflect any losses that shareholders cannot cover," which didn't happen in the financial-crisis bailouts. (PR)
  • Nov. 29, 2012, 4:35 PM
    Perhaps tired of never-ending regulatory scrutiny, Barclays (BCS) says it will go to court to fight the FERC if it moves forward with about $470M in fines over alleged electricity-market manipulation. "It will establish precedent," says a former FERC official, who can't ever remember the agency being challenged like this.
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  • Nov. 29, 2012, 6:34 AM
    The Bank of England's Financial Policy Committee accuses British banks of possibly misleading investors about the health of their finances. In its semi-annual report, the panel says banks may be overstating capital levels by not recognizing potential losses on loans and playing down risks. Banks may also not have made enough provisions to cover the costs of compensating customers for the mis-selling of certain financial products.
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  • Nov. 28, 2012, 1:57 PM
    The pendulum continues to swing towards too much capital for banks as the Fed considers forcing U.S. units of foreign lenders to house the businesses in regulated holding companies. It makes sense from the Fed point of view - the U.S. unit of, say, Barclays, could be more easily wound down in a crisis. For the banks, it's another hit to ROE.
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  • Nov. 28, 2012, 3:56 AM
    The Fed is reportedly considering forcing foreign banks to combine their U.S. operations into American holding companies, which would require the units to meet minimum capital standards regardless of the resources of the parent firms. The move could increase costs, force foreign banks to inject billions of dollars into their U.S. ops, limit the movement of capital and even hurt lending.
  • Nov. 27, 2012, 7:54 AM
    Royal Bank of Scotland (RBS) is upgraded to Buy at UBS, which believes Mark Carney's appointment to head the Bank of England signals a more conciliatory regulatory environment for U.K. banks. Gerard Lane of Shore Capital disagrees: "He strikes us as a hardliner." Citigroup notes average bank core tier 1 capital ratios are lower in Canada than in the U.K.
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  • Nov. 26, 2012, 9:10 AM
    Premarket gainers: HOGS +16%. KCG +15%. MBI +8%. JRCC +8%.
    Losers: GNRC -6%. BCS -5%.
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  • Nov. 26, 2012, 6:54 AM
    Barclays (BCS) slides 4.2% premarket as Qatar's unloading of the remainder of its warrants in the bank acquired during the financial crisis triggers a 303M share stock offering at - you guessed it - about a 4% discount to Friday's closing price.
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  • Nov. 26, 2012, 4:17 AM
    UBS (UBS) is due to ask an Appeals Court today to dismiss a lawsuit from the FHFA over losses on $6.4B in mortgage bonds sold to Fannie Mae and Freddie Mac. UBS argues that the claims expired in 2010 and so are time-barred by the statute of repose. The stakes are high not just for UBS but also for several other banks that the FHFA has sued for a similar reason, including JPM, Barclays (BCS) and GS.
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  • Nov. 26, 2012, 3:11 AM
    Qatar Holding plans to sell £771M of shares in Barclays (BCS) through the liquidation of its remaining warrants in the British bank. However, the fund, which said it remains a "supportive strategic investor," will continue to be Barclays' biggest shareholder, with its 6.7% stake staying unchanged. Meanwhile, Barclays has reportedly come under pressure from some of its biggest shareholders to follow UBS's example and offload its investment bank.
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  • Nov. 19, 2012, 5:55 PM
    A federal judge allows a FHFA lawsuit to go forward against Barclays (BCS) over the sale of $4.9B in questionable MBS to Fannie Mae and Freddie Mac. It's no surprise as the same judge has allowed similar suits to move ahead against 5 other banks.
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  • Nov. 19, 2012, 6:41 AM
    Barclays (BCS) is upgraded to Buy from Neutral at Goldman Sachs. Shares +4% in London.
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  • Nov. 18, 2012, 2:53 AM
    Barclays (BCS) has denied making an "illegal payment" to Saudi Arabia's Capital Markets Authority in order to win a license in the country to operate a wealth-management arm and investment bank. The refutation follows a report last week that U.S. authorities are investigating whether the bank made such payments.
  • Nov. 13, 2012, 6:05 AM
    Twelve of Europe's biggest banks held a combined $1.43T in deposits at central banks as of September 30, up 84% since the end of 2010 but only 3% from three months earlier, the WSJ calculates. The growth reflects fears about the banks' stability and uncertainty about upcoming liquidity rules, although some did withdraw reserves in Q3, including Lloyds (LYG) and Barclays (BCS).
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  • Nov. 13, 2012, 4:36 AM
    China awarded foreign institutions a record $2.8B in quotas in October to invest in the country's stock and bond markets under the Qualified Foreign Institutional Investor (QFII) scheme, almost matching the amount for the entire Q3. Barclays (BCS) and JPMorgan (JPM) were among those that received the allocations. The increase in quotas comes as foreign-direct investment in China falls sharply.
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  • Nov. 11, 2012, 2:16 AM
    U.S. authorities are investigating Barclays (BCS) over whether it made improper payments in 2009 to obtain a license to operate a wealth-management arm and investment bank in Saudi Arabia, the FT reports. The probes adds to a number of other inquiries Barclays faces, including over payments made to Qatar in 2008 during a cash call and manipulation of U.S. power markets.
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Company Description
Barclays PLC is a financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management. It operates in Europe, the Americas, Africa and Asia.