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Co-Operative fails BOE stress test; RBS, Lloyds barely pass

All other banks clear the test which took place during a series of financial-stability exams across EU

London

CO-OPERATIVE Bank failed the Bank of England's (BOE) first public stress test of the country's lenders as Royal Bank of Scotland (RBS) and Lloyds Banking barely passed.

Co-Operative said it plans to cut an additional £5.5 billion (S$11.27 billion) of assets by 2018, while RBS plans to sell £2 billion of notes to bolster capital. None of the banks said it will have to sell new stock.

The regulator, which assumed the role of British bank supervisor last year, is following its US and European...

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