Barclays dodges monoline threat with $12.3bn asset spin-off to Protium fund
Barclays this week took flak from some quarters for a $12.3bn spin off of monoline-wrapped structured finance assets. It attracted the criticism for what looked like accounting sleight of hand used to mitigate mark-to-market effects even though it gave a thorough explanation of the transaction and committed to maintaining a high degree of transparency.
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