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Barclays and Blackstone agree to sale of credit card receivables

Barclays and Blackstone Credit & Insurance have announced that Barclays Bank Delaware has entered into an agreement to sell approximately US$1.1 billion of currently outstanding credit card receivables in relation to a defined set of Barclays-branded credit card accounts in the US.

This is the first in a series of activities Barclays plans to conduct to reduce its risk-weighted assets (RWAs) and create additional lending capacity for Barclays Bank Delaware.

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