The Bank of England has welcomed Barclays' new capital plan to meet City regulator demands to shore up its finances.
Following constructive discussions, the PRA has agreed and welcomes Barclays capital plan, announced today.
We have considered all elements of the plan, including new capital issuance, planned dividends and management actions to be taken and, based on Barclays' projections, conclude that it is a credible plan to meet a leverage ratio of 3%, after adjustments, by June 2014 without cutting back on lending to the real economy.
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