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Economy

xchrom

(108,903 posts)

20. BoE says banks nervous over releasing details of health checks

Reply to Tansy_Gold (Original post)

Mon May 19, 2014, 08:38 AM

May 2014

http://uk.reuters.com/article/2014/05/19/uk-boe-banking-tests-idUKKBN0DZ10F20140519

(Reuters) - Banks in Britain broadly support Bank of England plans for yearly checks on their capital levels, although they disagree on how detailed the published results should be.

Eight of Britain's biggest banks, including Barclays, RBS, Lloyds and HSBC, will undergo a health check this year to see if they hold enough capital to withstand a 35 percent slump in house prices and a spike in interest rates to 4 percent.

This year's exercise begins what will become an annual test. It will be expanded to include other banks, to see if they can withstand market shocks without taxpayer money.

The BoE published on Monday a summary of the results of a consultation last year on how the stress test could be developed in the medium term. Responses to that consultation led the central bank to tweak this year's test.

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