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Barclays Says it Has No Big Exposure to Troubled U.S. Funds

Reuters
Friday, 22 Jun 2007 | 6:20 AM ET

British bank Barclays on Friday said it had some exposure to funds that have lost money from investing in sub-prime mortgage assets in the United States, but that any loss in relation to the exposure would not be material.

Barclays Capital has about $300 million exposed to a Bear Stearns hedge fund that is on the brink of collapse, according to several media reports.

Barclays confirmed in a statement that in the ordinary course of its business Barclays Capital had some exposure to funds investing in the troubled U.S. mortgage assets, but did not quantify the amount.

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