Nov 28, 2017
Opening Quote: RBS and Barclays pass test, but could do better; Ocado wins at Casino (finally)
According to the Bank of England, it is now also necessary to consider their resilience to an "Exploratory scenario": weak global growth, persistently low interest rates, stagnant world trade, declining cross-border banking activity, increased competition from smaller banks and non-banks, and more fines for misconduct. For the first time since the tests were instigated in 2014, no bank needs to strengthen its capital position. On the exploratory scenario, test: All banks project that they could adapt to a low rate, low growth macroeconomic environment without taking on more risk. Royal Bank of Scotland will be disappointed to still be one of the weakest lenders in the severe economic stress scenario, following last year's results when it failed some parts of the test. All five of the other banks - HSBC, Standard Chartered, Lloyds Banking Group, Nationwide and Santander UK - maintained their capital levels above their minimum requirements throughout the exercise.
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