Last checked at 16 Dec 2019 18:26
Standard Chartered PLC - statement on the Bank of England 2019 stress test results
Standard Chartered PLC (the Group) notes the publication today by the Bank of England of the results of its 2019 stress test exercise. The results showed that, under the Bank of England's hypothetical annual cyclical scenario, the Group exceeded all hurdle rates. The Group has a diverse and liquid balance sheet and these results demonstrate the Group's continued capital strength and increased resilience to stress.
The Financial Policy Committee also announced that it is raising the level of the UK countercyclical capital buffer rate from 1% to 2%, taking effect in one year. Given relevant UK exposures, this will not materially impact the Group's capital requirements.
The results of the Bank of England's 2019 stress test are available to view in full on their website at:
https://www.bankofengland.co.uk/stress-testing/2019/bank-of-england-stress-testing-results
For further information, please contact:
Mark Stride
Global Head, Investor Relations
+44 (0)20 7885 8596
mark.stride@sc.com
Julie Gibson
Head of Group Media Relations
+44 (0)20 7885 2434julie.gibson@sc.com