Barclays 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 or a sale of its investment banking division Barclays Capital.
Shares are off nearly 4% today.
Join the conversation about this story »
See Also:
- Mortgage Securitization Is About To Make A Comeback
- Former Barclays Chief: Bonuses Were Paid Fraudulently
- Start Taxing Banks Now, Because We’re Going To Bail Them Out In The Future