Barclays Sets Aside £228 Million Related to the Collapse of MFS

Barclays Plc set aside £228 million ($308 million) in the first quarter in relation to the collapse of specialized lender MFS, according to a person familiar with the matter.

The bank said on Tuesday that its increased credit impairment charge of £823 million, up from £643 million a year ago, was “primarily driven by a single name charge of £228 million.” That’s related to Market Financial Solutions, the person said, asking not to be identified discussing matters related to firms.