Barclays provides extra £400m for interest rate swaps

Barclays faces a huge mis-selling bill
Barclays faces a huge mis-selling bill Credit: PA

The extra £1 billion set aside by Barclays for mis-selling of products comprises £600 million for PPI compensation and £400 million for interest rate swaps for small businesses.

Read ITV News Business Editor Laura Kuenssberg's blog on interest rate swaps.

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Barclays PPI fund expands

Barclays is to increase provisions to provide compensation for the mis-selling of payment protection insurance and interest rate swap products sold to small and medium-sized businesses by another £1 billion.