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.


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.