Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Barclays Sued by DZ Bank Over Mortgage-Backed Securities

May 16 (Bloomberg) -- Barclays Plc, the U.K.’s second-biggest bank by assets, was sued by DZ Bank AG in New York state court over $133.3 million in residential mortgage-backed securities.

DZ Bank, Germany’s largest cooperative lender, sued London-based Barclays in New York State Supreme Court in Manhattan today, alleging claims including fraud and negligent misrepresentation, according to a court document.

The bank, based in Frankfurt, also sued JPMorgan Chase & Co., the biggest U.S. lender by assets, and HSBC Holdings Plc, Europe’s biggest bank, in the same court this year over residential mortgage-backed securities.

Kerrie Cohen, a New York-based spokeswoman for Barclays, declined to comment on the lawsuit in an e-mail.

Pools of home loans securitized into bonds were a central part of the housing bubble that helped send the U.S. into the biggest recession since the 1930s. The housing market collapsed, and the crisis swept up lenders and investment banks as the market for the securities evaporated.

The case is Deutsche Zentral Genossenschaftsbank AG v. Barclays Bank Plc, 651708/2012, New York State Supreme Court (Manhattan).

To contact the reporter on this story: Chris Dolmetsch in New York at

To contact the editor responsible for this story: Michael Hytha at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.