Barclays says no need to issue equity to plug capital
LONDON, June 20
LONDON, June 20 (Reuters) - Barclays said it can fill a 3 billion pound ($4.7 billion) capital shortfall identified by Britain's financial regulator from earnings and other restructuring measures and does not plan to issue equity.
Britain's Prudential Regulation Authority said Barclays needs to find 3 billion pounds under a capital exercise based on end-2012 data, out of a 27.1 billion shortfall for Britain's top banks.
Barclays said it is confident it will exceed the PRA's capital target by the end of 2013 through its capital generative businesses and more disposals of legacy assets, which it said had accelerated this year. "As agreed with the PRA, this requirement is expected to be met without recourse to equity capital issuance," it said.
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