Report of Foreign Issuer (6-k)
July 13 2020 - 7:05AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
July
13, 2020
Barclays PLC
(Name
of Registrant)
1 Churchill Place
London E14 5HP
England
(Address
of Principal Executive Office)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover of Form 20-F or Form 40-F.
Form
20-F x Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No
x
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in
connection with Rule 12g3-2(b):
This
Report on Form 6-K is filed by Barclays PLC.
This
Report comprises:
Information
given to The London Stock Exchange and furnished pursuant
to
General
Instruction B to the General Instructions to Form 6-K.
EXHIBIT
INDEX
__________________________________________________________________________________
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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BARCLAYS
PLC
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(Registrant)
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Date:
July 13, 2020
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By: /s/
Garth Wright
--------------------------------
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Garth
Wright
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Assistant
Secretary
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Barclays PLC (the "Company")
Update on the Group's CET1 capital ratio
Since the Company's Q1 2020 Results Announcement published on 29
April 2020, there have been a number of developments, including
regulatory changes, which will positively impact the Group's Common
Equity Tier 1 ("CET1") capital ratio as at 30 June
2020.
The Company currently expects to report an increase in the Group's
CET1 capital ratio from 13.1% as at 31 March 2020 to c.14% at 30
June 2020, ahead of market expectations. Regulatory changes
contributing to the improvement in the capital ratio as at the end
of Q2 2020 include amendments to the Capital Requirements
Regulation that were implemented in June 2020, including
transitional relief relating to IFRS9 impairment and implementation
of revised rules for the calculation of the prudential valuation
adjustment to capital. In addition, risk weighted assets
("RWAs") as at 30 June 2020 are expected to be lower than
previously anticipated.
In the second half of the year there may be headwinds to the CET1
ratio from procyclical effects on RWAs, and reduced transitional
relief on IFRS9 impairment.
The Group's Maximum Distributable Amount hurdle is expected to
reduce from the Q1 2020 level of 11.5% to 11.2% following the
Prudential Regulation Authority's statement that it will calculate
Pillar 2A requirements as a nominal amount instead of a percentage
of RWAs.
Further details will be provided in the Company's Interim Results
to be published on 29 July 2020, which are expected to reflect the
challenging income and impairment conditions for the consumer and
corporate businesses, and continuing strength of markets
income.
- ENDS -
For further information, please contact:
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Investor
Relations
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Media
Relations
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Chris Manners
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Tom Hoskin
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+44 (0)20 7773 2136
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+44 (0)20 7116 4755
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About Barclays
Barclays is a British universal bank. We are diversified by
business, by different types of customer and client, and
geography. Our businesses include consumer banking and
payments operations around the world, as well as a top-tier, full
service, global corporate and investment bank, all of which are
supported by our service company which provides technology,
operations and functional services across the Group.
For further information about Barclays, please visit our website
home.barclays
Forward-looking Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the US Securities Exchange Act of 1934,
as amended, and Section 27A of the US Securities Act of 1933, as
amended, with respect to the Group. Barclays cautions readers that
no forward-looking statement is a guarantee of future performance
and that actual results or other financial condition or performance
measures could differ materially from those contained in the
forward-looking statements. These forward-looking statements can be
identified by the fact that they do not relate only to historical
or current facts. Forward-looking statements sometimes use words
such as 'may', 'will', 'seek', 'continue', 'aim', 'anticipate',
'target', 'projected', 'expect', 'estimate', 'intend', 'plan',
'goal', 'believe', 'achieve' or other words of similar meaning.
These statements are based on the current beliefs and expectations
of Barclays' management and are subject to significant risks and
uncertainties. Actual outcomes may differ materially from those
expressed in the forward-looking statements. Factors that could
impact Barclays' future financial condition and performance are
identified in our filings with the US Securities Exchange
Commission ("SEC") (including, without limitation, Barclays PLC's
Annual Report on Form 20-F for the fiscal year ended 31 December
2019 and Barclays PLC's Q1 2020 Results Announcement for the three
months ended 31 March 2020 filed on Form 6-K), which are available
on the SEC's website at www.sec.gov.
Subject to our obligations under the applicable laws and
regulations of any relevant jurisdiction, (including, without
limitation, the UK and the US), in relation to disclosure and
ongoing information, Barclays undertakes no obligation to update
publicly or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
MAR - Inside Information
This announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) No
596/2014.
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