Barclays Took Caution on Wirecard ‘Some Time Ago’: CEO Staley

The transcript discusses Barclays' exposure to Wirecard, highlighting their participation in a revolving credit facility and business dealings in the UK. It addresses the challenges posed to the fintech industry due to Wirecard's situation, emphasizing the safety of banks and potential scrutiny on E-wallets. The conversation shifts to auditing concerns, particularly the missed audit by Ernst and Young, and Barclays' cautious approach to Wirecard over time. The discussion concludes with the acknowledgment of significant issues that were overlooked, impacting the market.

What type of facility does Barclays have a participation in with Wirecard?

• Savings account facility

• Mortgage facility

• Revolving credit facility

• Term loan facility

What is one of the challenges mentioned for the financial technology industry?

• Increased regulation on traditional banks

• Decline in consumer trust

• New attention on e-wallets

• Reduction in fintech startups

Why is Barclays seeing an increase in their deposit base?

• Due to higher interest rates

• Because of a new marketing campaign

• As people seek safety in regulated banks

• Because of a merger with another bank

Which auditing firm is mentioned as being under scrutiny due to Wirecard?

• PricewaterhouseCoopers

• Ernst and Young

• KPMG

• Deloitte

What approach did Barclays take towards Wirecard?

• Aggressive expansion

• Cautious approach

• Complete withdrawal

• Joint venture