Anybody wants a bank with £1.16 trillion of assets?

[AtW]

Not US apparently -

"The board (of Barclays) has not discussed the possibility of separating the investment bank and listing it in New York.

The US Federal Reserve is said to have indicated that it would reject the application, should one be made, as it does not want the burden of a bank with £1.16 trillion of assets. "



Source: Paul Tucker 'aware of move to fix Libor’ - Telegraph

[BrilloPad]

I think the US has enough bad IBs already.

[AtW]

If a much larger country does not want to overburden itself with this bank why should UK?

How can Barclays even have so much "assets", what are they - gold and cash?

[BrilloPad]

If a much larger country does not want to overburden itself with this bank why should UK?

How can Barclays even have so much "assets", what are they - gold and cash?

They are the estimated worth of their traders.

It is in the UK interests to bolster IBs as its the only economy we have left. I am suprised the US and Europe have tolerated LOndon being the centre of IB for so long.

[AtW]

I am suprised the US and Europe have tolerated LOndon being the centre of IB for so long.

They just did not want to be burdened by it maybe

[centurian]

Doesn't this make a bit of a mockery about the claim that splitting IB's and retail banks makes it all safer overall - and that it should be done tomorrow etc. If a pure IB is safe to the overall economy, why wouldn't the US want it.

[Freamon]

If a much larger country does not want to overburden itself with this bank why should UK?

How can Barclays even have so much "assets", what are they - gold and cash?

Loans, mostly bad ones.