Barclays Probed for Loan Data Misrepresentation

The Bank of England will join an investigation into Barclays Bank's practices concerning the provision of misleading information about illiquid private credit loans, aimed at downplaying risk estimates and reducing regulatory capital requirements. The complaint suggests that Barclays' classification of financial derivatives related to these loans may have violated regulatory rules, particularly regarding the categorization of funding instruments tied to private credit funds. Following the report's release, Barclays' shares fell by more than 2%. This scrutiny comes amid growing concerns about transparency in the private credit market, which is valued at around two trillion dollars, and its impact on the valuation of illiquid assets and the extent of financial institutions' exposure to risks.

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