Barclays chief says the bank is not at odds with regulator

8 July 2013

The chief executive officer of Barclays Antony Jenkins has denied there is any conflict between the bank and its regulators.

In an interview with CNBC, he said: "I don't describe it as a pitched battle at all, we have a very constructive relationship with our regulators."

Barclays is currently under pressure to meet stricter capital requirements set by the Prudential Regulation Authority (PRA), which was brought in by the Bank of England earlier in the year.

The PRA enforced a three per cent leverage ratio target on lenders last month, during which Barclays was singled out as a bank with a shortfall. After adjustments are made it has a ratio of 2.5 per cent.

In response to this, Barclays warned it may have to cut lending to households and businesses in order to meet the new financial requirements. The Bank of England quickly said this was not acceptable.

By Asim Shah

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