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Currencies, Equities

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Basel Committe fail to sign off on latest bank reform measures

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Banks, Financial

Banking app targets millennials who want help budgeting

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Categorized | Banks

RBS falls 2% after failing BoE stress test

Posted on November 30, 2016

Royal Bank of Scotland shares have slipped 2 per cent in early trading this morning, after the state-controlled lender emerged as the biggest loser in the Bank of England’s latest round of annual stress tests.

The lender has now given regulators a plan to bulk up its capital levels by cutting costs and selling assets, worth at least £2bn.

Speaking on Wednesday, Mark Carney, governor of the BoE, praised RBS’s progress and welcomed plans to raise its capital levels by an “order of magnitude much bigger than the size of the shortfall” revealed in the stress tests.

Barclays and Standard Chartered also failed to meet some of the BoE’s minimum hurdles but will not be asked to submit any fresh plans to raise capital.

Here’s what bank shares are doing this morning:

  • RBS falls 2.3 per cent to 192p
  • Barclays shares rise 0.1 per cent to 214p
  • Standard Chartered down 0.5 per cent at 628p
  • Lloyds climbs 1.19 per cent to 58.5p
  • HSBC up 0.17 per cent to 632p

Read more: BoE stress tests – all you need to know