Barclays above threshold in BoE stress test

RNS Number : 8625Z

Barclays PLC

16 December 2014

 



16 December 2014

Barclays PLC

Barclays above threshold in BoE stress test

Barclays notes the publication today of stress test outcomes for UK banks by the Bank of England ("BoE").  Under the BoE's assessment of the effects of the modelled adverse stress scenario, Barclays' capital position remained above the BoE threshold with a PRA Transitional Common Equity Tier 1 ("CET1") ratio of 7.0% pre management actions. Barclays' CET1 ratio did not fall below 7% at any time in the test period and exceeded the 4.5% minimum threshold by a significant margin.

Barclays reported a 9.1% PRA Transitional CET1 ratio as at 31 December 2013, which was the starting point for the stress test modelling. This had increased to 10.0% by 30 September 2014.

Barclays continues to target a Fully Loaded CET1 ratio of greater than 11% by the end of 2016.  

The full year results for 2014 and the Annual Report will be published on 3 March 2015. 

The BoE stress test results for UK banks can be found on the BoE website at http://www.bankofengland.co.uk/financialstability/Documents/fpc/results161214.pdf  

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For further information, please contact:

Investor Relations                                                                Media Relations  

Charlie Rozes                                                                        Giles Croot

[phone]                                                           [phone]

Notes to editors:

The BoE adverse scenario stresses Barclays' consolidated balance sheet and income statement over a 36 month period starting from 31 December 2013, projected forward based on assumptions determined by the BoE.

The BoE announcement also discloses a higher modelled low point CET1 ratio of 7.5% for Barclays calculated after implementation of a programme of management actions that would be taken in the event of such an adverse stress developing.

About Barclays

Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions - in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 135,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.

INFORMATION REGARDING FORWARD-LOOKING STATEMENTS

This document may contain forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. Generally, the words ''will'', ''may'', ''should'', ''continue'', ''believes'', ''expects'', ''intends'', ''anticipates'', "plans" or similar expressions that are predictive or indicative of future events identify forward-looking statements. These statements are based on the current expectations of management and are naturally subject to risks, uncertainties and changes in circumstances. Undue reliance should not be placed on any such statements because, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors, many of which are outside the control of Barclays and its Directors, that could cause actual results, and management's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. As such, forward-looking statements are no guarantee of future performance.

There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business, competitive, market and regulatory environment, future exchange and interest rates, changes in tax rates and future business combinations or dispositions.

Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this document. Barclays does not undertake any obligation (except as required by requirements of the UK Listing Authority or any other legal or regulatory requirement) to revise or update any forward-looking statement contained in this document, regardless of whether that statement is affected as a result of new information, future events or otherwise.

No statement in this document is intended as a profit forecast and no statement in this document should be interpreted to mean that the earnings per Share for the current or future years would necessarily match or exceed the historical published earnings per Share.

 

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