Barclays is to transfer a portfolio of derivatives contracts to JPMorgan as part of the UK bank 's ongoing plan to sell unwanted assets so as to meet its regulatory requirements . The portfolio consists primarily of interest - rate swaps , many of which are backed by collateral that will go to JPMorgan . Barclays will let those customers affected by the portfolio contracts know and the bank will need their consent before they can be moved to JP Morgan . UK banks are under regulatory pressure to shore up their capital buffers and get rid of risky or toxic assets from their balance sheets .
Barclays is to transfer a portfolio of derivatives contracts to JPMorgan as part of the UK bank's ongoing plan to sell unwanted assets so as to reduce its capital requirements. The portfolio consists primarily of interest-rate swaps, many of which are backed by collateral that will transfer to JPMorgan. Barclays will let those customers affected by the portfolio transfer know and the bank will need their consent before they can be moved to JP Morgan. UK banks are under regulatory pressure to shore up their capital buffers and get rid of risky or toxic assets from their balance sheets.