Barclays 'to reveal capital requirements next week'

26 July 2013

Barclays is expected to announce whether or not it needs to raise more capital to meet the new demands set by the Bank of England next Tuesday (30 July).

The central bank stated Barclays needs to reduce the risks it is currently running within its business.

It will also reveal its interim results and is expected to disclose the outcome of discussions with the Prudential Regulation Authority (PRA), the relevant arm of the Bank of England.

The two entities have been in talks about increasing the institution's leverage ratio, which measures the amount of risk.

According to a recent report in the Financial Times, the PRA will give Barclays until the end of 2014 to take action to increase its ratio by reducing the risk or increasing its capital. This is later than was first expected but much earlier than the deadline Barclays had been aiming for - the end of 2015.

By Asim Shah

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