Good asset quality relative to peers. Leading business positions in U.K. banking and global investment banking. Reasonably diversified revenues by business line and geography. Investment banking increases group revenue volatility and confidence sensitivity. Modest internal capital generation weighs on our capital and earnings assessment. Weaker performing European businesses. Standard&Poor's Ratings Services' outlook on U.K.-based Barclays Bank PLC is stable. The outlook reflects our expectation that Barclays' earnings will remain resilient in 2012 and 2013, even allowing for our assumption that investment banking income will fall modestly in each year. However, we expect returns to remain below the management's targeted return on equity of 13%. The outlook also reflects our opinion that Barclays' asset quality will remain relatively healthy,
