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RBS and Standard Chartered weakest UK lenders


The Royal Bank of Scotland (RBS) and Standard Chartered have been shown as the weakest out of the UK’s seven largest lenders in a Bank of England (BoE) stress test.

The BoE subjected the UK’s largest lenders to certain tests to monitor if they would survive a financial shock. This time the scenario was if oil had fallen to $38 a barrel and that the global economy had slumped.

RBS and Standard Chartered were found not to have enough capital strength, even though they took steps to raise capital.

Chief financial officer of RBS, Ewen Stevenson said:
"We are pleased with the progress we have made relative to the 2014 stress test, but recognise we still have much to do to restore RBS to be a strong and resilient bank for our customers."

Standard Chartered's chief executive Bill Winters said:
"The results of the test demonstrate our resilience to a marked slowdown across the key markets in which we operate.
"The test was conducted on our balance sheet as at the end of 2014. Since then we have made further significant progress in strengthening our capital position.
"We are operating at capital levels above current minimum regulatory requirements and have a number of additional levers at our disposal to further manage capital."

The seven lenders included in the stress tests were: HSBC, RBS, Lloyds, Barclays, Santander UK, Standard Chartered and Nationwide Building Society.

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