Bulletin: Barclays Bank PLC?s Collateralized Note Issues Are Rated In Line With The Resolution Counterparty Ratings

LONDON (S&P Global Ratings) June 3, 2020--S&P Global Ratings clarified today that it rates issues from Barclays Bank PLC's four collateralized note programs in line with the 'A+/A-1' long- and short-term resolution counterparty ratings (RCRs) on the issuer. The programs are: $10 billion U.S. Collateralized Commercial Paper Notes Series 2010-1 $15 billion U.S. Collateralized Funding Notes Series 2011-1 €5 billion Series 2013-1 European Collateralized Commercial Paper Notes $20 billion Global Collateralized Medium-Term Notes Issues under these programs are supported by limited recourse undertakings by Barclays CCP Funding LLP, which enters into repurchase agreements to invest the proceeds of the notes in eligible securities. We rate the issues in line with the RCRs because they are collateralized liabilities that, in our

...LONDON (S&P Global Ratings) June 3, 2020--S&P Global Ratings clarified today that it rates issues from Barclays Bank PLC's four collateralized note programs in line with the 'A+/A-1' long- and short-term resolution counterparty ratings (RCRs) on the issuer. The programs are: + $10 billion U.S. Collateralized Commercial Paper Notes Series 2010-1 + $15 billion U.S. Collateralized Funding Notes Series 2011-1 + 5 billion Series 2013-1 European Collateralized Commercial Paper Notes + $20 billion Global Collateralized Medium-Term Notes Issues under these programs are supported by limited recourse undertakings by Barclays CCP Funding LLP, which enters into repurchase agreements to invest the proceeds of the notes in eligible securities. We rate the issues in line with the RCRs because they are collateralized liabilities that, in our opinion, would likely be excluded from a bail-in by the relevant resolution authority. Consistent with our published methodology, the 'A+' long-term RCR on Barclays...

Bulletin