LONDON, Dec 16 (Reuters) - Britain's Co-operative Bank said it would not need to raise capital after failing aBank of England stress test.
Co-op Bank, which nearly collapsed last year and fell underthe control of bondholders, said its core capital fell to -2.6percent in the test, compared to a 4.5 percent pass mark.
The bank said it had been required to submit a new capitalplan which had been accepted by the UK financial regulator.
The new plan will see it accelerate the reduction of itsrisk weighted assets by about 5.5 billion pounds by the end of2018. The bank warned it would not be profitable until 2017 atthe earliest.
(Reporting by Matt Scuffham; Editing by Alexander Smith)