On December 1, 2015, the Bank of England published the results of the 2015 UK banking system stress tests. The 2015 stress test was the BoE’s second concurrent stress test of the UK banking system and covered seven major UK banks and building societies. The BoE’s Financial Policy Committee will not be taking any macroprudential actions on bank capital in response to the results, considering that the banking system is sufficiently capitalized to support the real economy in a severe global stress scenario. The Prudential Regulation Authority determined that the stress test showed that five of the seven participating firms did not have any capital inadequacies (Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society and Santander UK) but that both The Royal Bank of Scotland Group and Standard Chartered had not met their individual capital requirements. However, the PRA had not required those two firms to submit revised capital plans on the basis that certain steps had already been taken by the firms. As per the BoE’s Approach to Stress Testing the UK Banking System published in October 2015, the BoE will run its first annual cyclical scenario concurrent stress test in 2015, the results for which will be published in Q4 2016.
The results are available at: http://www.bankofengland.co.uk/financialstability/Documents/fpc/results011215.pdf.