Summary
Barclays' CEO, C.S. Venkatakrishnan, spoke about potential risks in the U.S. credit market. He pointed out concerns about credit deterioration despite overall economic strength. Recent bankruptcies in the U.S. have raised alarms, leading Barclays to reexamine their loan practices closely.
Key Facts
- Barclays' CEO is concerned about risks in the U.S. credit market.
- The U.S. economy is doing well overall, with strong credit conditions and employment.
- Barclays is being more careful about its lending activities due to recent bankruptcies.
- Recent bankruptcies, like First Brands and Tricolor, have caused worry among financial experts.
- Barclays lost $147 million due to the collapse of Tricolor, leading to a review of their loans.
- JPMorgan Chase also faced losses because of these bankruptcies.
- Discussions include concerns about the global financial system and lending standards.
- The U.S. is seen as being at the end of a long credit expansion cycle, which can increase risks.
