WICHITA, Kan. – The FDIC asked a federal appeals court here Friday to overturn a lower court ruling dismissing $550 million of securities claims by NCUA against Barclays Capital, as the ruling could jeopardize billions of dollars in claims the banking regulator itself has against numerous Wall Street banks.

In its amicus brief, the FDIC told the U.S. Court of Appeals for the Tenth Circuit the lower could erred when it ruled that Barclays could repudiate an agreement with NCUA to toll, or suspend, the running of the statute of limitations on the claims while the parties negotiated a settlement, thereby allowing the deadline on the suits to expire.

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