Ex-UBS / Citi Trader In Court, Barclays Says No Need To Raise Equity

UBS Fractured

Former UBS trader Tom Hayes appeared in a London court on Thursday accused of conspiracy to defraud in connection with a global investigation into the Libor interest rate rigging scandal.

Reuters reports that dressed in a blue open-necked shirt and pale trousers, 33-year-old Hayes stood in the dock at London's Westminster Magistrates' Court as the magistrate read out eight offences related to his time at both UBS and Citi in Japan between August 2006 and September 2010.

He is alleged to have conspired with employees from at least 10 institutions including UBS, RBS, Deutsche Bank, Citi, JPMorgan, brokers ICAP, Tullett Prebon, RP Martin, HSBC, Rabobank and others.

Ex-UBS trader Hayes appears in court on Libor fraud charges

The news agency also reports that Barclays has said it can fill a $4.7bn capital shortfall identified by Britain's financial regulator from earnings and other restructuring measures and does not plan to issue equity.

Barclays says no need to issue equity to plug capital

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