Barclays PLC (NYSE:BCS) (LON:BARC) announced today its plans to raise $12 billion through rights issue and contingent capital, to plug its capital short fall. Britain’s third biggest bank and the sixth largest in Europe plans to raise $8.9 billion through a rights issue of stock and the balance through contingent capital, which is a financial instrument that converts to equity if the bank’s capital falls below a certain threshold level. Barclays PLC (NYSE:BCS) (LON:BARC) also revealed its plans to reduce assets on its balance sheet by up to £80 billion to enhance its leverage ratio to 3 percent by 2014. PRA’s mandate…
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