Barclays Told to Review Leveraged Finance as UK Probes Industry

-- UK regulators have ordered Barclays Plc to review its leveraged finance business as concern grows inside the Bank of England over how lenders across the industry are measuring their exposure to the giants of private equity.The central bank’s Prudential Regulation Authority has instructed Barclays to commission a section 166 review of the business, according to people familiar with the matter.

The Bank of England isn’t alone. The European Central Bank is also reviewing how the region’s biggest banks lend to the private equity industry amid a rising threat of corporate defaults. Barclays, long known for its prowess in debt capital markets, has been seeking to deepen its ties with buyout firms as part of a broader push to boost returns at the company’s investment bank.

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