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Barclays Spain Mulls €1.3B Cap Hike

Barclays’ Spanish unit, Barclays Spain, is planning a €1.3 billion capital hike to meet new Bank of Spain minimum solvency ratios.

Barclays’ Spanish unit, Barclays Spain, is planning a €1.3 billion capital hike to meet new Bank of Spain minimum solvency ratios, Reuters reports. As per the Spanish central bank, Barclays had a capital shortfall of €552 million in March 2011 and it committed to cover the shortfall.

The Spanish government has passed a new law, as per which listed lenders are required to have 8% core capital until September. Barclays Bank will repurchase subordinated debt from Barclays Spain, adds Bloomberg.

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