Barclays is likely to be given until the end of 2015 to deal with a shortfall in its capital reserves identified by the new banking regulator.
The Prudential Regulation Authority, part of the Bank of England, is expected to allow the bank two and a half years to build up its capital to fill a £3bn hole, according to the Mail on Sunday. The PRA reached a deal with the Nationwide Building Society on Friday that gives the mutual until the end of 2015 to reach its own capital target and is expected to give Barclays the same leeway. "It would be bizarre in the extreme if they had one deadline for Barclays and another for Nationwide," said Ian Gordon, an analyst at Investec. Barclays shares spiked on Friday after the news of Na...
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