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Co-op must boost capital, RBS, Lloyds on track to do so, UK stress test says

( December 16, 2014, 07:27 GMT | Official Statement) -- MLex Summary: Co-operative Bank must submit a revised capital plan to the Bank of England after a stress test found the lender falling below the target capital ratio needed to survive a housing and interest-rate shock. Lloyds Banking Group and Royal Bank of Scotland, the two partly government-owned banks, also needed to strengthen their capital, but were already on track to doing so, the Bank of England said. The financial system broadly was found to be resilient against the stress scenario, so rule changes were not needed, the central bank’s Financial Policy Committe said. The following is the text of the statement. Click the attachment at bottom for the full report, plus http://www.bankofengland.co.uk/publications/Pages/news/2014/169.aspx for an external link to further data, http://www.bankofengland.co.uk//publications/Pages/fsr/2014/fsr36.aspx for the accompanying Financial Stability Report and http://www.bankofengland.co.uk/publications/Pages/other/srs/srs2014h2.aspx for the Systemic Risk Survey Results....

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