Barclays unloads $12.3B in troubled assets to Caymans

09/17/2009 | Guardian (London), The

Barclays spun off about $12 billion in troubled assets to a fund in the Cayman Islands. Although the assets will remain on Barclays' balance sheet, they will no longer have to be priced using mark-to-market accounting, which makes the value of such assets difficult to establish. The fund will be managed by two former Barclays executives.

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Guardian (London), The

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