Salz Review - Wall Street Journal

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233 Salz Review An Independent Review of Barclays’ Business Practices Term FirstPlus FOS FRRP FRC FSA FTE Funding risk GICAF GRCB Group Group Centre Group Chief Executive Group ExCo HMRC HR IRCB Key Risk KPIs Lehman LIBOR Definition Former lending business operated by Barclays Financial Ombudsman Service (UK) Financial Reporting Review Panel (UK) Financial Reporting Council (UK) Financial Services Authority (UK), to be replaced Full-time equivalent Failure to maintain necessary capital ratios to support business activity and meet regulatory requirements and the failure to meet liquidity obligations 324 Barclays’ Group Internal Control and Assurance Framework Global Retail and Commercial Banking business Barclays PLC, including its subsidiaries Head office management and functional oversight across all businesses, including Group ExCo and the Group functions Chief Executive Officer of Barclays Barclays’ Group-wide Executive Committee, which comprises part of the Group Centre. This includes the Group Chief Executive and heads of the businesses and functions, with the exception of the Head of Compliance, who reports in to Barclays’ General Counsel, the head of the legal function Her Majesty’s Revenue & Customs (UK) Human resources International Retail and Commercial Bank Risks designated as such in Barclays’ Principal Risks Policy Key performance indicators Lehman Brothers Holdings Inc., the North American investment banking and trading divisions of which, along with its New York headquarters building, were acquired by Barclays in 2008 London InterBank Offered Rate 324 Barclays, Annual Report 2012, p. 28.
Salz Review An Independent Review of Barclays’ Business Practices 234 Term LTIP M&A Market risk NED OECD OFT Operational risk PBT People management Personal Banker PPI PRA Principal Risk Principal Risks Policy Prudential Business Unit RBB RBS Definition Long-Term Incentive Plan Mergers and acquisitions The reduction to earnings or capital due to the volatility of any trading book positions or an inability to hedge the banking book balance sheet 325 Non-executive director Organisation for Economic Co-operation and Development (International) Office of Fair Trading (UK) The direct or indirect impacts resulting from human factors, inadequate or failed internal processes and systems, or external events 326 Profit before tax A collective term used in this Report to refer to the core organisational tools of recruitment, training, performance management and promotion A branch-based role at Barclays, to identify retail customers’ needs and to identify products and services that fit the customer Payment Protection Insurance Prudential Regulation Authority (UK), the prudential regulator in the UK from April 2013. One of two bodies being set up to replace the FSA, the other being the FCA Risks designated as such in Barclays’ Principal Risks Policy Barclays’ risk management policy which defines and outlines the management of the risks that emerge in the execution of Barclays’ business activities 327 A division of the FSA, responsible for financial services industry supervision and regulatory reform and developing and operationalising the PRA Retail and Business Banking, Barclays’ acronym Royal Bank of Scotland plc 325 Barclays, Annual Report 2012, March 2013, p. 155. 326 Barclays, Annual Report 2012, March 2013, p. 187. 327 Barclays’ Principal Risks Policy of December 2006, last revised December 2011.
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