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The complaint, filed in December 2016, alleged that Barclays caused billions of dollars in losses to investors by engaging in a fraudulent scheme to sell bn-worth of the securities, and that it misled investors about the quality of the mortgage loans backing those deals.

The complaint alleged that Barclays’ investment banking division, Barclays Capital, had committed mail fraud, wire fraud, bank fraud and other misconduct.

He added: “It has been a priority for this management team from the start to resolve these historic issues in a timely and appropriate manner wherever possible.

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Barclays has agreed to pay $2bn (£1.4bn) to settle a US civil action related to the mis-selling of residential mortgage-backed securities in the run-up to the financial crisis.

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