RBS failed to meet the two key capital target levels under the Bank of England’s tough new stress test scenario.
The bank carried out the stress test work between March and June. It realised its capital was not up to scratch and has now submitted a new plan, which was accepted by the Bank of England's Prudential Regulation Authority yesterday.
Barclays and Standard Chartered also struggled under the test, which incorporated a synchronised UK and global recession, as well as potential misconduct costs.
HSBC, Lloyds, Nationwide and Santander passed the test outright.
I know I shouldn't interrupt on things I know nothing about (but it ever usually stops me) but..
Yes, but, after the meltdown, when planning ones trip to the farm shop, counting ones gold in a lost valley in the Lake District that no one knows about except you, hidden by bits of old barbed wire and fence posts and some bushes, and guarded by an ex squaddie called Mark with a crossbow and a Channel 4 made for TV film crew. When that's happening, it's to be hoped NATO doesn't know where one is otherwise they will just come and get the gold and give it back to the banks and start all over again. And if you say "No", they will say "Put the bow down or we will send you a cruise missile, how do you like them apples?"
Parting shot. Yes, God rest her soul, she too got me into this lark. I bought into the electricity privatisation. No computer, I had to go to the Nat West, when I sold them, they told me a price, and I sold the lot, not knowing much at all about prices changing etc. I imagined that the share price of shares only altered daily, not every few moments!
Still made decent money on them, cant remember how much, but did buy a lot as had family member working for the company so bought them in his name so could buy a fair few.
Don't forget the council house sell off, another good thing for the working people, IF they were wise enough to take advantage. She did do good for many, not so good for others of course. Hence as always depends on where abouts your life is at any given time as to your view.
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