For a man with no immune system, I’m doing alright.
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Bank may raise capital through markets
Friday 10th October 2008, 3:45PM BST.
Barclays said it is considering “a number of options” including raising capital from the markets instead of taxpayers to reach government targets.
The bank added it would “update the market” on its plans by the end of 2008, the government deadline for banks to increase their capital.
The government wants the UK’s top banks to increase their Tier 1 capital – a measure of financial strength – to an average of ten per cent by a combined £25 billion as part of its bailout deal.
A £25 billion fund has been made available to the banks and several banks, including Barclays, are expected to use the facility.
However, Barclays is considering “capital raising” instead, as it did in July when the bank raised £4.5 billion from institutional investors.
HSBC is the only bank so far to confirm it will not be asking the government for cash.
The bank said it has already met its target by pumping in £750 million into its UK business from internal resources instead.
Any bank that accepts the government capital will also have to accept restrictions on executive pay and make promises to continue lending to small businesses and individuals.
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