Barclays Is Just Getting Started (Paying Fines For Engaging In Fraud)

US$450 million for Liborgate. £3.56 billion for payment protection insurance, with £900 million more to come. US$480 million to Fannie Mae and Freddie Mac. £211 million for “other unspecified litigation and conduct charges.” And that’s just the beginning of the legal accounting at the House of Jenkins.

Sanford C. Bernstein said Barclays could book £200 million in provisions to settle an investigation by the New York attorney general’s office into the bank’s private stock market, known as a dark pool, and £700 million related to continuing industrywide investigations into potential manipulation of the $5.3-trillion-a-day currency market….

Mr. Barua said he expected that Barclays would also take a £300 million charge in the second half of the year to compensate customers who were improperly sold products to hedge interest rates.

Barclays Could Face $2 Billion More in Litigation Charges, Analyst Says [DealBook]