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0 -0.00251748251748248 -0.00251748251748248 -0.00251748251748248 -0.00251748251748248 -0.00205128205128204 0.00689976689976698 -0.00419580419580422
Stock impact report

How Barclays got burnt by shadow banking [Yahoo! Finance]

Ares Management Corporation Class A (ARES) 
Last ares management corporation class a earnings: 2/13 06:00 am Check Earnings Report
US:NYSE Investor Relations: ares-ir.com
Company Research Source: Yahoo! Finance
Just weeks earlier, the British bank had suffered a £110m loss on loans made to a little-known American car lender Tricolor, which had collapsed amid fraud allegations. Now, with the analysts scrambling to understand Barclays' exposure to other ventures, the 60-year-old banker was forced on the back foot to defend the bank's private credit push. “Credit is credit,” he shot back, after being grilled on the bank's risk controls. “We've got strong risk management practices. We're comfortable and confident with that.” Yet now those words are under greater scrutiny after Barclays once again found itself on the losing end of another private credit foray. Last week, Market Financial Solutions (MFS), a British-based shadow bank specialising in property finance, went under amid allegations of fraud Again, Barclays found itself on the hook for the collapse, with a reported exposure of between £500m and £600m. The Bank of England has been grilling Barclays and other lenders to MFS abo Show less Read more
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