The Bank of England is examining whether Barclays traders misrepresented illiquid private credit loans in a way that understated their risk, the Financial Times reported on Monday. A complaint from an insider to the PRA alleges that total return swaps referencing these loans were booked in Barclays' trading book rather than its banking book, which can understate risk and reduce the capital the bank must hold. The complaint also alleges the treatment breached PRA rules restricting derivatives backed by illiquid collateral in the trading book. Barclays said it takes its regulatory obligations seriously but would not discuss its interactions with regulators, and its shares fell 2.6% to 421.4 pence in early London trading. Investors will watch whether the PRA broadens its review to other lenders' swap books in a private credit market of roughly $2 trillion.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Bank of England Is Examining Whether Barclays Traders Misrepresented Private Credit Exposures , FT Reported :
Read the original on hedgeco.net ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 763.31 |
| Change that session | -1.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- State Bank of Vietnam asks banks to monitor and reassess collateral values in line with market prices
The State Bank of Vietnam (SBV) has asked credit institutions to value collateral closer to market prices, regularly reassess it, and closely monitor its condition throughout loan terms, taking timely action if values fall. Under document No. 9608/NHNN-CSTT dated 18/10/2026, outright purchases of letter-of-credit documents without recourse must be risk-controlled like other lending and count against the SBV-set maximum 2026 credit balance. Banks must also tighten loan classification and provisioning, avoid concealing bad debt, and pay special attention to banks with high or rising bad debt. Other directives include controlling accrued interest receivable and dividend payouts, and reducing reliance on net interest income.
- UK Watchdog Proposes Strategic Market Status For Microsoft Business Software
Britain's Competition and Markets Authority has proposed giving Microsoft 'strategic market status' in business software, which could lead to rules on how it bundles products such as Excel, Teams and Copilot. The CMA's investigation, opened in May, looked at software used by around 20 million people a month in Britain and found Microsoft holds a strong position, with barriers making it hard for customers to switch. Microsoft disagrees, saying all its products, including Copilot, are open and interoperable. The CMA will seek views and make a final decision by February, including whether customers can freely choose AI tools and whether rivals can compete with Copilot. If confirmed, Microsoft would be the third company under the UK's digital markets regime, after Google and Apple.
- Update: Microsoft's Business Software Proposed to Receive Increased UK Regulatory Scrutiny
- FinTech Global FS Regulatory Round - up - W / e 25 September 2026
This weekly regulatory roundup covers the TNFD’s final sector guidance for technology and communications, which includes a water-risk use case for semiconductor manufacturing and datacentres. The FCA published Handbook Notice 144 on cryptoassets, including a 10% cap on cryptoasset exchange traded notes held by retail funds and the removal of most approval notifications for cryptoasset promotions. FCA CEO Nikhil Rathi said the UK must move from experimentation to adoption of tokenisation, citing potential benefits of £33 billion a year for GDP and £14 billion in tax revenue, and a joint roadmap with the Bank of England is planned. The Bank of England also consulted on 2026/27 fees for recognised payment systems and specified service providers, with responses due by 22 October 2026, while the EBA published its response to the European Commission’s MiCAR review.
- UK regulator set to push Apple to open iPhone payment technology – report
Apple is reportedly preparing for a legal dispute with the UK Competition and Markets Authority (CMA), which plans to publish consultation proposals next week on Apple's position in contactless payments. According to the Financial Times, the CMA plans to argue that Apple holds unfair control over the UK 'tap-to-pay' market and will call for iOS changes that let iPhone users choose an alternative payment service as default instead of Apple Pay. The proposals follow Apple's 'strategic market status' designation under new digital competition rules, which carries penalties of up to 10% of global turnover, and complaints from lenders and fintechs about the 0.15% fee on credit card transactions made through Apple Pay. Apple restricts third-party access to the iPhone's NFC chip, citing user privacy and fraud prevention, and two people briefed on the matter said the company is likely to appeal.
- Andy Burnham and John Healey plot huge tax hike - how it could hit you
Chancellor John Healey is reportedly considering raising the surcharge on bank profits above £100million from 3% to 8% at the upcoming Budget, reversing a cut introduced in April 2023 under Jeremy Hunt. The change could raise some £2billion for the Exchequer, but banks warn it could inflict a £20 billion hit on the economy. Lenders may try to recoup the cost by raising mortgage rates and cutting savings rates, though that risks losing customers to rivals. Conservative and City groups say the tax would stifle investment and harm Britain's competitiveness, while the TUC backs it and estimates it would raise £2.25billion a year. The Treasury said decisions on tax are for the Chancellor to announce at fiscal events.
Related markets
Latest news
- Iran warns US and Israel
Iran's Armed Forces Chief of Staff, Major General Ali Abdollahi, warned on October 18 that the US and Israel would face a far harsher response if they continue actions Tehran considers provocative. He said Tehran is awaiting their next moves and that Iran's armed forces remain ready for any scenario. Tehran accuses Washington and Tel Aviv of trying to weaken its government, and tensions have risen since earlier conflicts, including a 12-day war. Iran says it will not back down under external pressure.
- Is TC Energy (TRP) a Good or Bad Investment at Today's Multiple?
TC Energy trades at 21.19 times next year's expected earnings, closing at $61.74 on October 16 after a 1.5% return over 6 months, versus 10.5% for the Insider Monkey Billionaire Index and 9.3% for the State Street SPDR S&P 500 ETF Trust. The company operates natural gas transmission pipelines across Canada, the United States and Mexico, plus power generation, with a 44.25% operating margin, and latest-quarter earnings rose 18.00% on revenue up 5.70%. The article flags risks including debt at 170.37% of equity, the loss of crude oil pipelines to South Bow in 2024, and volumes that depend on North American gas demand from power and LNG exports. A 4.01% yield is cited as income while the market decides whether the stable business justifies the multiple relative to its growth.
- Should You Buy This Trump AI Stock Ahead of Earnings?
Microsoft (MSFT) reports quarterly results on October 28 and ranks eighth in Trump's latest stock portfolio, after Trump bought the stock five times in August. Bulls point to Azure growth of 43% last quarter, with management expecting about 45% in the current quarter, and to demand that exceeds available computing capacity. Bears cite rising capital spending that Deutsche Bank says could push free cash flow close to breakeven in fiscal 2027, about two-thirds of spending going to short-lived equipment such as chips, and OpenAI making up about 45% of the commercial backlog in the December quarter. The stock trades at 26.75 times forward earnings, a 27% premium to the sector median of 21.01 but 12% below its own five-year average of 30.47, with a PEG ratio of 1.70 versus a sector median of 1.14. The article concludes that investors pay more than for the average tech stock but less than they usually pay for Microsoft.
- What Is Williams' (WMB) Economic Moat, and Is It Steel or Permits?
Williams (WMB) closed at $71.28 on October 16, with a 0.5% return over 6 months, compared with 10.5% for the Insider Monkey Billionaire Index and 9.3% for the State Street SPDR S&P 500 ETF Trust. The article argues its main advantage is the Transco pipeline, which runs from the Gulf Coast up the eastern seaboard, where several attempts to build new pipe have been abandoned after failing to win approvals. A 39.54% operating margin and 21.50% return on equity are cited as evidence of this advantage, although revenue rose only 7.80% last quarter. Limits noted include debt at 200.37% of equity, rules that also restrict Williams' own growth, and a price of 26.81 times expected next-year earnings. The dividend yields 2.95%.
- Marvell Jumps 6% as GF Securities Says Google Chip Delay Won’t Dent Its Position; Broadcom Rises 3%
Marvell shares rose 6% to $241.27 in afternoon trading after a reported delay in Google's next TPU chip, while Broadcom gained 3%. GF Securities analyst Jeff Pu said the delay does not change Marvell's medium- to long-term position in Google's chip supply chain. Marvell reported Q2 FY2027 revenue of $2.74 billion, up 36.5% YoY, with its Data Center segment at $2.17 billion, or 79% of revenue. Google can acquire up to 7% of Marvell shares under a warrant tied to revenue targets, and management expects its custom business to more than double in fiscal 2028. Q3 revenue guidance is $3.15 billion, plus or minus 5%, with non-GAAP gross margin of 57.5% to 58.5%, and the article notes Marvell still needs to convert its Google programs into reported revenue.
- Is ONEOK (OKE) Cheap at 14 Times Next Year’s Earnings?
ONEOK (NYSE:OKE) closed at $93.31 on October 16 and returned 11.4% over six months, versus 10.5% for the Insider Monkey Billionaire Index. The stock trades at 14.49 times next year's expected earnings and yields 4.59%, and revenue rose 52.80% last quarter as the company grew through acquisitions. The article argues that much of this growth was bought rather than built, with only 13.25% of revenue remaining as operating profit and debt at 143.07% of equity. Because a large part of the business involves buying and reselling liquids rather than earning transport fees, the article views the discount as having a reason behind it. It concludes that investors should watch margins rather than revenue.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.