Barclays Halts Certain Debt Activities After £540 Million Clerical Error
- Clerical error saw bank overissue $15 billion of securities
- Lender suspended sale of 30 exchange-traded notes Thursday
Barclays Plc headquarters in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Barclays Plc has suspended market-making activities in its own debt securities, as it navigates the process of fixing a paperwork blunder that saw it mistakenly issue $15 billion of U.S. securities.
The suspension impacts the securities of both Barclays PLC and Barclays Bank Plc, the unit that houses the investment bank, according to a statement Friday. The lender said it “will continue to evaluate the extent to which it can resume market making in any such individual security.”