30 Nov '16, 5pm

It's time to put all options for the future of RBS back on the table

Today the Bank of England published the results of its latest round of stress tests aimed at assessing the financial strength and resilience of the UK’s major lenders. The Bank tested how bank balance sheets would hold up under a doomsday scenario which included significant falls in house prices, a severe domestic recession and turbulence in the global economy. Under the tests it was the 73% taxpayer owned Royal Bank of Scotland (RBS) which performed worst, with the Bank of England concluding that “RBS remains susceptible to financial and economic stress”. Provisions against future fines for past misconduct were the biggest factor in the bank’s failure to pass the tests. As a result, RBS has been forced to put forward a plan to raise an additional £2 billion of capital to bolster its financial strength. The stress tests come as the Bank of England painted a bleak outlook i...

Full article: http://neweconomics.org/rbs-fails-stress-test-public/?hea...

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