Barclays CFO: Bank Liquidity, Funding Still "Rock Solid"
http://online.wsj.com/article/BT-CO-20110831-703561.htmlLONDON (Dow Jones)--Barclays PLC (BCS) continues to be "rock solid" in its liquidity, funding and capital, Group Finance Director Chris Lucas said Wednesday, despite recent stress in global money markets.
He said the bank has raised its surplus liquidity pool since June 30 and is continuing to attract term deposits in each of its key funding currencies, including dollars.
Volatile markets hit the bank's capital markets division in July and August, he said, but the bank's other businesses are collectively performing better in the second half of the year than in the first half.
"When I think about current market conditions, our liquidity and funding position remains a key strength in volatile markets," Lucas said in prepared remarks to attendees of a financial services conference hosted by Nomura.
"Despite current market volatility, Barclays continues to be rock solid on funding, liquidity and capital, attracting funding in all currencies, including (U.S. dollar.)," he said.
European bank shares have sold off sharply in the past month on concerns about their liquidity and ability to withstand further shocks from the ongoing euro-zone debt crisis.
Barclays shares at 0900 GMT were up 0.5% at 166.2 pence. The stock has lost 24% since the start of August.