Credit Suisse: Barclays Needs Another $45B

 |  About: Barclays PLC (BCS)
by: The Business Insider

BarclaysCapitalBarclays (NYSE:BCS) is still in need of some serious cash.

Credit Suisse predicts the British Bank needs between 17 and 28 billion pounds ($27.6 and $45.5 billion) to meet the new 8% or 10% tier one requirement, reports The Telegraph.

This is a surprise for the bank and its investors as JP Morgan predicted a smaller 12.8 billion pound ($20.8 billion) increase in July.

The bank now has to look for ways to raise the required capital, which could include a cut in its stake in fund manager BlackRock (NYSE:BLK) or a sale of its investment banking division Barclays Capital.

Shares are off nearly 4% today.

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