Following the excessive issuance of securities under Barclays Bank PLC’s US shelf and subsequent planned changes to Form 20-F filings, Barclays is suspending market making activities on its own debt securities

LONDON–(BUSINESS WIRE)–As disclosed in its first quarter 2022 earnings announcement, Barclays has determined that it has issued securities in excess of the amount recorded under Barclays Bank PLC’s pending U.S. registration statement (BBPLC).

With respect to this overissue and the associated impact, Barclays PLC (BPLC) is preparing an amendment to its Annual Report on Form 20-F for the year ended December 31, 2021 (the 2021 BPLC Form 20-F). This change will reflect management’s change in assessment of BPLC’s internal control over financial reporting and KPMG’s auditor’s certification thereon, as well as its disclosure controls and procedures. Barclays Bank PLC is preparing an amendment to its Annual Report on Form 20-F for the year ended 31 December 2021 (the 2021 BBPLC Form 20-F) to include its 2021 restated financial statements and to reflect the change in management’s assessment of internal control over financial reporting and disclosure controls and procedures.

These changes will be filed as soon as possible. Until the BPLC 2021 Form 20-F has been amended to indicate that its internal controls were not effective, KPMG’s audit report should not be relied upon by users of BPLC’s financial statements. Until BBPLC restates its financial statements for the year ended December 31, 2021 and amends BBPLC’s 2021 Form 20-F, investors and other users of documents filed by BBPLC with the United States Securities and Exchange Commission States are cautioned not to rely on the financial statements included in the BBPLC 2021 Form 20-F.

As a result, Barclays has suspended its market making activities in the debt securities of BPLC and BBPLC for the time being. Barclays will continue to assess the extent to which it can resume market making for such an individual security.

About Barclays

Barclays is a British universal bank. We are diversified by business, by different types of clients and clients, and by geography. Our businesses include worldwide retail banking and payment transactions, as well as full-service corporate and investment banking.

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