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Barclays did not ask for extra capital from Government, says Varley

Barclay’s chief executive John Varley says the bank has not requested capital from the Government following a late night meeting with Chancellor Alistair Darling.

Speaking at Merrill Lynch’s Growth Opportunities Post-Crisis conference in London this morning, Varley told delegates that he didn’t request a helping hand from Government during a meeting with Darling and the UKs three biggest banks yesterday – Barclays, Royal Bank of Scotland and Lloyds TSB.

A statement released by the London Stock Exchange today says in response to a question Varley commented: “Contrary to press rumours, Barclays has not requested capital from the Government and has no reason to do so.”

Questions came after a blog posted on the BBC website suggested that each of the three banks estimated that they each may need around £15bn of new capital.

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