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Rating:Barclays Capital Borrows Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 04, 2007

Barclays Capital Borrows

by: Sean Hanna, Editor in Chief

Barclays Capital executives said Friday that they are kicking in $1.6 billion in financing for an investment fund. The WSJ also reported that the British bank and parent company to Barclays Global Investors lost up to $400 million in the two Bear Stearns hedge funds that helped spark last month's liquidity squeeze. On Thursday, Barclays bank borrowed money through a Bank of England lending facility after finding technical difficulties with a securities-clearing system that meant it faced a shortfall at its central-bank account. Robert Diamond Jr., Barclays' president, downplayed any problems. "You should expect to see us outperform whatever environment we're in," he told the paper. "If there was a black-hole exposure in BarCap, we would have to make an announcement. And I am looking you in the eyes -- as much as I can through a [conference phone] -- and saying that I still expect us to outperform in this market environment."  

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