Barclays boss Antony Jenkins has denied conflict with regulators after the bank warned it would cut lending to meet strict new capital requirements from the UK's central bank. The Bank of England's (BoE) new Prudential Regulation Authority (PRA) last month announced a 3.0% leverage ratio target on lenders. It said Barclays was among the banks that fall short of the target. The UK banking giant, which has a ratio of 2.5% after adjustments, on Friday retaliated that it would have to reduce its lending to households and businesses to meet the new rules.BoE, however, responded by saying it would not accept restricted lending."I don't describe it as a pitched battle at all, we have a very constructive relationship with our regulators," Jenkins told CNBC in an exclusive interview the network's Asia Squawk Box on Thursday. He also said the PRA's target was reasonable and understandable. Jenkins suggested the bank would meet the new requirements through its 'transform' strategy, launched in February. The plan includes building the bank's capital and achieving a return on equity above the cost of equity by 2015. Jenkins said, "we are very comfortable given the work we've done in the past six months...What we're talking about with the regulators is timing". "Reducing lending to the real economy is something that we want to avoid, and by the way we love lending, that's our business. I wouldn't characterise it at all as conflict," he added. It's not the first time Barclays has had seemingly difficult dealings with regulators. Last year, Jenkins took over from Chief Executive Officer, Bob Diamond, who was ousted after the bank was fined for LIBOR rigging. RD