Barclays could sell BlackRock stake to meet £17bn shortfall - papers

Barclays may be forced to dispose of its 50% stake in BlackRock to fund a £17bn shortfall in capital under proposed new global rules for the banks, the Telegraph reports.

Barclays may have to axe its dividend and appeal to shareholders through another capital raising to plug the gap according to analysts at Credit Suisse, the bank's broker. According to Credit Suisse, capital requirements proposed by the Bank of International Settlements would cut so deeply into Barclays' core tier-one ratio that "an immediate move to 8pc would require £17bn of equity". If requirements are increased to 10%, as some policymakers would like, Barclays may even need to raise £28bn, the Telegraph reports. Credit Suisse said "in theory, it is possible Barclays can mana...