Three of Britain’s largest lenders have struggled in stress tests as the Bank of England warned of “elevated” risks after the Brexit vote. The Royal Bank of Scotland must bolster its balance sheet by £2bn after failing the stress tests. Barclays and Standard Chartered also fell short on some measures but will not have to raise further capital. This test, the third since the financial crisis, was the most severe yet. Two other lenders - Barclays and Standard Chartered - also fell short on some measures but will not have to submit revised capital raising plans. Results of the stress test were published alongside the BoE’s latest Financial Stability Report which indicated Britain ’s banks face a “challenging outlook” due to Brexit and Trump. HSBC, Lloyds, Nationwide and Santander UK did not reveal any shortcomings in the stress test. A spokesman for Lloyds said: “We are confident that our business is strong enough to withstand Brexit, while maintaining an attractive rate base with high levels of customer service and low costs.” misconduct costs it still faces due to its behaviour during the financial crisis.
Three of Britain’s largest lenders have struggled in stress tests as the Bank of England warned of “elevated” risks after the Brexit vote. The Royal Bank of Scotland must bolster its balance sheet by £2bn after failing the stress tests. Barclays and Standard Chartered also fell short on some measures but will not have to raise further capital. This test, the third since the financial crisis, was the most severe yet. Results of the stress test were published alongside the BoE’s latest Financial Stability Report which indicated Britain ’s banks face a “challenging outlook” due to Brexit and Trump. HSBC, Lloyds, Nationwide and Santander UK did not reveal any shortcomings in the stress test. A spokesman for Lloyds said: “We are confident that our business is strong enough to withstand Brexit, while maintaining an attractive rate base with high levels of customer service and low costs.” misconduct costs it still faces due to its behaviour during the financial crisis.