Intermediary Bank

Barclays is in the process of settling with regulators, the company said Thursday.

Barclays said it is paying $2.25 billion to settle claims of corruption in Spain and the U.K. The settlement with the European Union and U.S. Treasury requires the bank to pay a $1.8 billion fine.

Barclays’ U.k. unit has been under investigation by the Financial Conduct Authority for a decade.

A spokeswoman said in an emailed statement that the company is pleased to have reached a resolution.

Barclays has faced allegations of using an intermediary to win business for itself.

A report last year from The Financial Times said Barclays had paid bribes to senior officials in Spain.

Barclays, which has been a favorite target of U.N. sanctions over its role in the 2008 financial crisis, has said the bank has taken steps to improve oversight.

In the U, it has said it will implement the UBS settlement.

In Spain, the government says Barclays’ subsidiaries helped facilitate the sale of luxury homes.

The U.J. news agency said regulators in Spain have been looking into allegations of bribery and corruption at the bank.

Barclays declined to comment on whether it plans to file a statement of defence.