BloombergRoyal Bank of Scotland Group PLC (RBS) bolstered its capital plan after failing multiple hurdles in the Bank of England’s (BOE) toughest-ever stress test. Some “capital inadequacies” were revealed at two other banks, Barclays PLC and Standard Chartered PlC, though neither was required to submit a revised capital plan, the BOE’s Prudential Regulation Authority (PRA) said yesterday. The test also covered HSBC Holdings PLC, Lloyds Banking Group PLC, Banco Santander SA’s British arm and Nationwide Building Society. “Based on RBS’ own assessment of its resilience identified during the stress-testing process, RBS has already updated its capital plan to incorporate further capital strengthening actions and this revised plan has been accepted by the PRA board,” the Prudential Regulation Authority said. RBS modeled its own performance based on the test and approached the BOE with a revised capital plan before it was asked to provide one by the central bank.

Source: Taipei Times November 30, 2016 16:01 UTC