Bloomberg News reports that RBS failed to meet its individual-capital guidance in the examination, based on end-2014 data, the BOE’s Prudential Regulation Authority said in a statement on Tuesday. Standard Chartered did not meet its Tier 1 minimum capital ratio, a measure of financial strength.
The BOE said Standard Chartered’s “recent strategy review and the associated steps taken to strengthen its capital position” meant it didn’t need to submit a new capital plan. RBS was also let off based on previous capital raising and debt issuance plans.
This was the BOE’s second public stress test, as it seeks to reinforce investor confidence in financial firms seven years after the global banking crisis.
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