ADVFN - Advanced Financial Network.
HOME» NYSE » B » BCS Stock Price » BCS Stock News

Barclays Share News

 Barclays Stock Price
BCS Stock Price
 Barclays Stock Chart
BCS Stock Chart
 Barclays Stock News
BCS Stock News
 Barclays Company Information
BCS Company Information
 Barclays Stock Trades
BCS Stock Trades

BofA Receives Subpoenas Related to Libor Probe

--Bank received subpoenas from the U.S. Department of Justice --Bank will take charge of about $800 million related to U.K. tax rate --Bank is in settlement discussions with Fannie Mae Bank of America Corp. (BAC) disclosed that it received subpoenas from the U.S. government, part of an inquiry related to how U.S. and European banks set Libor interest rates. The bank also disclosed in a quarterly regulatory filing that the decline in the United Kingdom's corporate-tax rate would result in a third-quarter charge. The nation's second-largest bank by assets said in its Form 10-Q filed with the Securities & Exchange Commission late Thursday it received "subpoenas and information requests' from the U.S. Department of Justice, the U.S. Commodity Futures Trading Commission and the United Kingdom Financial Services Authority tied to a probe by regulators into how banks set the London Interbank Offered Rate, a key interest rate for bank lending, "and European and other interbank offered rates." Last month, Chief Financial Officer Bruce Thompson told investors the bank was cooperating with Libor-related inquiries from "U.S. and the foreign regulators." "We're also one of a number of defendants in some of the other Libor-related litigation," he said and declined to elaborate further. Barclays PLC (BCS, BARC.LN) was forced to pay roughly $450 million to U.K. and U.S. regulators after its staff attempted to alter Libor to its benefit. Robert Diamond subsequently resigned as the company's chief executive. But regulators and government authorities have begun to look into what role other banks had in pushing Libor down. Bank of America also said it received inquiries from regulators about the sale of identity-theft-protection services to its credit-card customers, "including customers who may have paid for but did not receive certain of such services from third-party vendors." Capital One Financial Corp. (COF) last month agreed to pay $210 million to settle allegations it allowed its call-center contractors to pressure customers into buying consumer-credit-protection products such as identity-theft-monitoring services. Also, Bank of America said it would take a charge of about $800 million tied to the July decision by the U.K. government to lower corporate taxes. That lower tax rate will negatively impact Bank of America's deferred-tax assets because it would take the bank longer to write off past losses against current and future earnings. Another potential U.K. corporate-tax cut by 2014 suggested by the government there would result in a charge of about $400 million charge, the filing said. Bank of America also said in its filing it continues its discussions with Fannie Mae (FNMA) "to attempt to address our ongoing differences" about soured mortgages the bank had sold to Fannie that the government-controlled enterprise now demands the bank take back. Fannie has become more aggressive with such claims, executives at several bank have said recently. Fannie is demanding loans be taken back that were made to borrowers who made payments long after the crisis hit, or on homes that were foreclosed on two or three years ago, said a person familiar with the matter. Bank of America is in settlement discussions and has made some progress, the person said. --David Benoit contributed to this article. Write to Matthias Rieker at matthias.rieker@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Barclays (BCS)
DateTimeHeadline
03/29/201712:13:00Learning Technologies Gets GBP20 Million Loan
03/26/201715:44:00Barclaycard Sells $1.6 Billion in Risky Credit-Card Balances...
03/23/201715:00:00U.K. Regulator Reopens Probe Into Barclays' 2008 Deal With Qatari...
03/23/201713:59:00ATLAS Mara: Barclays Capital Securities Holds 4.2 Million Shares
03/22/201711:10:29Report of Foreign Issuer (6-k)
03/22/201710:16:00Barclays: Barclaycard International CEO Amer Sajed to Retire
03/22/201709:00:00Barclays & The Columbia Water Center Launch New Study, Reveal...
03/21/201710:35:00UK Serious Fraud Office to Decide 'Soon' on Barclays Qatar Charges
03/17/201704:39:00Bob Diamond to Return to U.K. Banking With Panmure Gordon Buy...
03/17/201704:06:00Bob Diamond to Return to U.K. Banking With Panmure Gordon Buy
03/16/201714:17:00Poland Raises EUR1.5 Billion in Dual-Tranche Bond Issuance...
03/16/201709:47:00Poland to Launch Dual-Tranche Euro Bond, Says Bank -- Update
03/13/201703:52:00Smart Metering Systems Gets GBP280 Million Loan
03/09/201712:14:33Report of Foreign Issuer (6-k)
03/09/201703:03:00SEC Nominee's Corporate Ties Could Pose Conflicts -- WSJ
03/08/201719:36:00SEC Chair Nominee Clayton's Ethics Report Reveals Range of Possible...
03/08/201718:05:00SEC Chair Nominee Clayton's Ethics Report Reveals Range of Possible...
03/08/201717:41:00CORRECTING and REPLACING Barclays Launches iPath® Series B Bloomberg...
03/08/201716:49:00Barclays Launches iPath® Series B Bloomberg Natural Gas Subindex...
03/08/201716:49:00Barclays Announces Reductions to Minimum Early Redemption Size...

Barclays and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US