Market Chatter: Barclays Sets Aside $307.9 Million to Cover for Collapse of MFS

MT Newswires Live04-28

Barclays (BCS) has reserved 228 million British pounds ($307.9 million) in Q1 to cover the collapse of specialty lender MFS, Bloomberg reported Tuesday, citing a person familiar with the matter.

The company said in a regulatory filing that its Q1 credit impairment charges increased to 823 million pounds, up from 643 million pounds a year earlier, in an increase "primarily driven by a single name charge of 228 million pounds."

Barclays didn't immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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