Barclays reaches $325m settlement over mortgage-backed securities

Barclays has reached a settlement with the US National Credit Union Administration to resolve two outstanding civil lawsuits for $325m.

The lawsuits are part of the residential mortgage backed securities claims disclosed in Barclays’ 2015 interim results announcement.

As a result of this settlement, Barclays said it will incude a provision $325m in its third-quarter interim management statement, to be announced on 29 October.

“The group continues to litigate other RMBS securities claims and RMBS repurchase requests and to respond to requests from various regulatory and governmental authorities in relation to mortgage-related investigations,” it said.

At 1554 BST, Barclays shares were up 1.1% at 253.50p.