Page 30 - Barclays Bank (B) Teaching Note

Qatari Loan Scandal and Mortgage - Backed Securities
fraud.

For Barclays these all added to serious tarnishing of the

banks image and in the case of the Qatari loan the

investigation, which has been underway since August

2012 has finally led to criminal charges of fraud, the first

levied against a high street UK bank and former senior

management for activities during the financial crisis.

If found guilty, Barclays will face further fines and a

further tarnishing of its battered reputation.

It should however be kept in mind that these charges,

from LIBOR to Mortgage Backed Loans, are historic in

terms of the strategic leadership at Barclays. Jenkins was

employed to basically clean up the mess and Staley has
continued that policy though falling foul with his

‘whistleblower’ faux pas.

However, as concern grows over a potential consumer

credit bubble, Staley said the bank was “keeping an eye on

underwriting standards” at its credit card business.