March 20, 2014 / 7:17 AM / 5 years ago

S.Korea Barclays unit inspection separate from Chinese banks

SEOUL, March 20 (Reuters) - South Korea’s inspection of Barclays PLC’s local unit was a routine, scheduled one and has nothing to do with the units of the three Chinese banks also under inspection, a central bank official said on Thursday.

“The inspection of the Barclays unit is being made according to a routine inspection schedule on foreign banks,” said Cho Jeong-hwan, director of the Bank of Korea’s Office of Bank Examination and Analysis.

Sources said on Wednesday the Barclays unit was being inspected together with units of Bank of China Ltd., Industrial and Commercial Bank of China Ltd. and China Construction Bank Corp over a spike in yuan holdings. (Reporting by Choonsik Yoo; Editing by Kim Coghill)

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