Blueprint
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
November
30, 2016
Barclays PLC and
Barclays Bank PLC
(Names
of Registrants)
1 Churchill Place
London E14 5HP
England
(Address
of Principal Executive Offices)
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 is a joint Report on Form 6-K filed by Barclays PLC and
Barclays
Bank
PLC. All of the issued ordinary share capital of Barclays Bank PLC
is
owned
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
Barclays passes
2016 BoE stress test – November 30, 2016
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, each of
the registrants 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:
November 30, 2016
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By: /s/
Patrick Gonsalves
--------------------------------
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Patrick
Gonsalves
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Deputy
Secretary
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BARCLAYS
BANK PLC
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(Registrant)
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Date:
November 30, 2016
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By: /s/
Patrick Gonsalves
--------------------------------
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Patrick
Gonsalves
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Joint
Secretary
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30
November 2016
Barclays PLC
Barclays Bank PLC
Barclays passes 2016 BoE stress test
Barclays
PLC and Barclays Bank PLC ("Barclays") note the publication today
of stress test outcomes for UK banks by the Bank of England
("BoE"). Under the BoE's assessment of the effects of the
modelled adverse stress scenario, Barclays' minimum stressed Common
Equity Tier 1 ("CET1") ratio over the period 2016-20 was 8.3%. The
minimum ratio occurred in 2017 of the test period and exceeded the
systemic reference point for that year after the impact of
strategic management actions and conversion of Additional Tier 1
securities ("AT1s"). Barclays has not been asked to submit a
revised capital plan.
The
systemic reference point in the 2016 stress tests includes a
revised Pillar 2A capital requirement based on Barclays' 2017
Individual Capital Guidance ("ICG") which the PRA has communicated
to us1. Accordingly,
the stress test systemic reference point for 2017 was 7.8%,
comprising the 4.5% CRD IV minimum CET1 ratio requirement, the 2017
Pillar 2A CET1 requirement of 2.3%, and the 1% phased-in G-SIB
buffer applicable in 2017 based on the November 2015 FSB G-SIB
list2.
Barclays'
capital policy requires management to consider taking discretionary
actions to mitigate the impacts of a stress scenario and reduce the
risk of CRD IV mandatory distribution restrictions. The
discretionary actions taken in this modelled scenario are not
separately reported in the BoE stress test outcomes, but are
included in the "all strategic management actions including CRD IV
distribution restrictions" column, which shows Barclays' minimum
stressed CET1 ratio at 6.9%.
The
starting point for the 2016 stress test was an 11.4% CET1 ratio as
at 31 December 2015, which compares to a CET1 ratio of 11.6% as at
30 September 2016. In addition, on 21 November 2016 Barclays'
G-SIB buffer was reduced from 2.0% to 1.5%. Over the course
of 2016 Barclays has made strong progress with the accelerated
rundown of Non-Core and reduced its stake in Barclays Africa Group
Limited as it moves towards regulatory deconsolidation,
which together with organic capital
ratio accretion has strengthened and de-risked the Group. These
factors would have reduced the impact of the 2016 stress
tests.
The
minimum stressed Tier 1 leverage ratio was calculated at 3.4% after
CRD IV related restrictions and 3.0% before such restrictions,
passing both the 3.4% systemic reference point, and the 3.0%
minimum threshold. Barclays reported a 4.5% Tier 1 leverage
ratio as at 31 December 2015, which was the starting point for the
stress test modelling.
The
full year results for 2016 and the Annual Report will be published
on 23 February 2017.
The BoE stress test results for UK banks can be found on the BoE
website at http://www.bankofengland.co.uk/financialstability/Pages/fpc/stresstest.aspx and
Barclays' results are summarised below.
1.
Barclays has received its 2017 ICG. Based on RWAs as at 31 December
2015, which was the starting point of the BoE stress test, the
Pillar 2A capital requirement per our 2017 ICG is £14.9bn or
4.0% of RWAs, of which £8.4bn or 2.3% of RWAs is in CET1
form.
2.
Based on the 2016 FSB list of Global Systemically Important Banks
(G-SIB), published on 21 November 2016, Barclays' G-SIB buffer has
been reduced from 2.0% to 1.5%. This change is expected to be
reflected in the systemic reference points set from 1 January 2018
onwards in future stress tests.
Summary stress test results
The
following is extracted from the stress test results in relation to
Barclays published today by the BoE:
Capital and Leverage ratios
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Minimum Stressed Ratio
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Minimum Stressed Ratio
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As at 31.12.15
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after all strategic management actions including CRD IV related
restrictions
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after the impact of strategic management actions and conversion of
AT1
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As at 30.09.16
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Fully loaded CET 11
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11.4%
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6.9%
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8.3%
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11.6%
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PRA Transitional Tier 12
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14.7%
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9.5%
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9.5%
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14.8%
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PRA Transitional Total Capital2
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18.6%
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13.2%
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13.2%
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18.8%
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CET1 capital (£bn)
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41
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28
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33
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43
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Risk weighted assets (£bn)
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358
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400
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400
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373
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|
|
|
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Tier 1 leverage ratio
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4.5%
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3.4%
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3.4%
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4.2%
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Total leverage exposure (£bn)
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1,028
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976
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976
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1,185
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1 The transitional
regulatory adjustments to CET1 capital are no longer applicable
resulting in CET1 capital on a fully loaded basis being equal to
that on a transitional basis.
2 The PRA transitional capital
is based on the PRA Rulebook and accompanying supervisory
statements.
Ends
For
further information please contact:
Investor
Relations
|
Media
Relations
|
Kathryn
McLeland
|
Tom
Hoskin
|
+44 (0)
20 7116 4943
|
+44
(0) 20 7116 6927
|
About Barclays
Barclays
is a transatlantic consumer, corporate and investment bank offering
products and services across personal, corporate and investment
banking, credit cards and wealth management, with a strong presence
in our two home markets of the UK and the US.
With
over 325 years of history and expertise in banking, Barclays
operates in over 40 countries and employs approximately 130,000
people. Barclays moves, lends, invests and protects money for
customers and clients worldwide.
For further information about Barclays, please visit our
website home.barclays
INFORMATION REGARDING 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 Barclays Group. 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 Securities and Exchange Commission ("SEC")
(including, without limitation, our Annual Report on Form 20-F for
the fiscal year ended 31 December 2015) which are available on the
SEC's website (www.sec.gov).
Subject to Barclays' obligations under the applicable laws and
regulations of the United Kingdom and the United States in relation
to disclosure and ongoing information, Barclays does not undertake
to update the forward-looking statements to reflect the impact of
circumstances or events that may arise after the date of the
forward-looking statements.
No
statement in this document is intended as a profit forecast and no
statement in this document should be interpreted to mean that the
earnings per share for the current or future years would
necessarily match or exceed the historical published earnings per
share.