Barclays Bank agreed Oct. 19 to pay the NCUA $325 million tosettle claims filed by the regulator. These claims arose from thepurchases of mortgage-backed securities by corporate credit unionsthat are now defunct.

The case involved Barclays' sale of some $555 million in securities to the failedcorporate credit unions WesCorp and U.S. Central in 2006 and 2007.This was one of many cases filed by the NCUA during the aftermathof the collapse of several large corporate credit unions.

The NCUA said it uses the net proceeds to reduce TemporaryCorporate Credit Union Stabilization Fund assessments charged tofederally insured credit unions to pay for the losses caused by thefailure of five corporate credit unions.

“In order to help minimize losses and future costs to the creditunion system, (the) NCUA is committed to pursuing recoveriesagainst financial firms we maintain contributed to the corporatecrisis,” NCUA Board Chairman Debbie Matz said in a news release.“The agency has a statutory obligation to secure recoveries forcredit unions and ensure that consumers remain protected, and wetake that responsibility very seriously.”

The NCUA first filed suit against Barclays in 2012, and theU.K.-based financial service firm did not admit guilt in thatsettlement.

The agency also said it has litigation pending against Goldman Sachs, UBS, Credit Suisse and Morgan Stanley stemmingfrom the collapse of five corporate credit unions.