Salz Review - Wall Street Journal

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231 Salz Review An Independent Review of Barclays’ Business Practices Appendix L – Glossary Term ABI Absa Africa RBB Authorised Investment Funds Barclays Barclays Capital Basel Committee Basel I, Basel II and Basel III BBA BGI Definition Association of British Insurers Barclays’ South African business, majority owned by Barclays Barclays’ Africa Retail and Business Banking, which includes the operations previously reported as Barclays Africa and Absa Collective investment schemes authorised and regulated by the FSA 317 Barclays PLC, including its wholly owned subsidiary, Barclays Bank PLC, and its subsidiaries Former name of Barclays’ investment bank Basel Committee on Banking Supervision Comprehensive sets of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector 318 British Bankers’ Association (UK) Barclays Global Investors, Barclays’ former institutional asset management business Big Bang Deregulation of the UK financial markets on 27 October 1986 Board committees Businesses, business units or clusters BZW Collectively, Barclays’ Board Audit Committee; Board Conduct, Reputation and Operational Risk Committee; Board Corporate Governance and Nominations Committee; Board Remuneration Committee; Board Financial Risk Committee; and Board Enterprise Wide Risk Committee 319 Currently Barclays’ UK Retail and Business Banking (UK RBB), European Retail and Business Banking (Europe RBB), Africa Retail and Business Banking (Africa RBB), Barclaycard, Corporate Banking, Investment Bank and Wealth and Investment Management. These varied over time, as shown in Exhibit 2 Barclays de Zoete Wedd, Barclays’ former investment banking business, substantially divested in 1998 except for the fixed income business which together became Barclays Capital 317 www.hmrc.gov.uk/manuals/ctmanual/CTM48115.htm. 318 www.bis.org/publ/bcbsca.htm. 319 http://group.barclays.com/about-barclays/about-us/the-board-committees
Salz Review An Independent Review of Barclays’ Business Practices 232 Term CAGR Capital ratio CFO CFTC Client money Conduct Business Unit Conduct risk Definition Compound Annual Growth Rate Percentage of a bank’s capital to its risk weighted assets (RWAs). Common capital ratios include the Core Tier 1 Ratio, Tier 1 Ratio and Total Capital Ratio Chief Financial Officer Commodity Futures Trading Commission (US) “Client money” as defined in the FSA’s Client Asset Sourcebook (CASS), the FSA’s requirements relating to holding client assets and client money 320 A division of the FSA, responsible for: developing and operationalising the FCA Detriment to the bank, customers, clients or counterparties because of inappropriate execution of business activities 321 Core Tier 1 ratio A measure of a bank’s financial strength, being the ratio of its core tier 1 capital (a bank’s most liquid form of capital consisting primarily of common stock and retained earnings) to its total RWAs Credit risk CRO EBA ETR EURIBOR Europe RBB ExCo FCA The suffering of financial loss should any customers, clients or market counterparties fail to fulfil their contractual obligations 322 Chief Risk Officer European Banking Authority Effective tax rate Euro Interbank Offered Rate Europe Retail and Business Banking Executive Committee Financial Conduct Authority (UK), the conduct authority in the UK from April 2013. One of two bodies being set up to replace the FSA, the other being the PRA Financial risk Barclays’ credit risk, market risk and funding risk collectively 323 FINMA Financial Market Supervisory Authority (Switzerland) 320 FSA Client Assets Sourcebook: http://fsahandbook.info/FSA/html/handbook/CASS. 321 Barclays, Annual Report 2012, March 2013, p. 189. 322 Barclays, Annual Report 2012, p 116. 323 Barclays, Annual Report 2012, p. 29.
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