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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.

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Huge hike in Barclays bill for mis-selling to businesses

Barclays' provisions for the mis-selling of interest rate swap products has almost doubled, according to figures announced today.

Barclays will increase its provision in the area by £400 million to £850 million.

The hike follows the City watchdog's study into products sold to small and medium-sized businesses.

What are interest rate swaps?

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