Thomson ReutersFebruary 5, 2013 03:30
LONDON, Feb 5 (Reuters) - Britain's Barclays said on Tuesday it had increased the provisions it needed to cover the mis-selling of interest rate hedging products (IRHP) and payment protection insurance (PPI) schemes.
Barclays said following a pilot review, it would now include a provision for IRHP of 850 million pounds ($1.3 billion), which is an increase of 400 million pounds. The provision for the PPI scheme will now reach 2.6 billion pounds, which is an increase of 600 million pounds.
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