This is an archived article that was published on sltrib.com in 2015, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
London • The Bank of England says the country's seven biggest lenders have passed stress tests designed to see if they can withstand a slump in the global economy.
The annual check of the health of the financial institutions found that five of the seven participating institutions — Barclays, HSBC, Lloyds Banking Group, Santander UK, and Nationwide — showed no capital inadequacies.
The Royal Bank of Scotland Group and Standard Chartered did not meet their capital requirements. But the banking regulator is not asking either to submit a plan to raise new cash, as both institutions were already taking steps to strengthen their capital positions.
The Bank of England modeled how banks would react to, among other things, a sharp drop in Chinese economic growth.