Barclays Received Government Support, Says CEO Varley
This article is for subscribers only.
Barclays Plc’s Chief Executive Officer John Varley said the lender benefited from government liquidity support, along with all banks.
Varley told a hearing of the U.K.’s Independent Commission on Banking in London that it’s “important to distinguish” between banks that received equity injections from government and those that used liquidity support. “Of course” Barclays benefited, along with all banks assisted by the stabilization of the financial system. He did not specify which government provided Barclays with assistance.