Op risk data: Barclays bungles multi-billion-dollar note issue
Also: Russia sanctions redux; Lloyd’s of London names bullying and sexism brokerage. Data by ORX News
In March’s largest loss, Barclays provisioned £450 million ($592.9 million) in expectation of a customer repurchase of overissued exchange-traded notes (ETNs). The bank illegally issued $15.8 billion more ETNs than it had registered for sale, as of August 2019, that for some purchasers had a baked-in right of repurchase in the event of overissuance – meaning Barclays must repurchase their securities at the original price.
On March 14, 2022, Barclays said it had suspended further sales from
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