Barclays has stepped up its defence of its structured finance operations, as it seeks to defuse political pressure on its tax planning ahead of its possible participation in the government’s asset protection scheme. The bank said its structured capital markets operation was “not a large part of Barclays Capital or Barclays”. It said revenues from the unit were less than £525m, about 10% of Barcap’s revenues, and that nearly half its revenues came from outside the UK in 2008.

This entry was posted by Gwen Robinson on Thursday, March 19th, 2009 at 4:48 and is filed under Capital markets. Tagged with barcap, barclays. Edit this entry.