Barclays Defends £15B Private Credit

Barclays Bank has confirmed that the method it used to calculate its exposure in the private credit segment, amounting to 15 billion GBP, complies with accounting and regulatory standards. This statement comes in response to reports suggesting that the Bank of England is investigating the possibility of reducing the risk assessment of illiquid private credit loans. The bank clarified that the value of its exposure through total return swaps linked to credit assets is approximately 300 million GBP, while the total exposure stands at 15 billion GBP. It also noted that its banking subsidiary retains most of this amount on its books, affirming its commitment to the applicable capital standards and the classification of these instruments within the trading book, based on rigorous governance procedures and external consultations.

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