UK banks struggle in EU-wide stress tests
BoE says UK faced tougher test than others
UK banks suffered some of the worst stress-testing results across the European Union in the European Banking Authority’s latest exercise.
In what the EBA said was its severest test to date, UK banks Barclays and Lloyds saw their capital levels fall to some of the lowest levels across the bloc. Italian banks also suffered heavily.
For the first time, the tests took into effect the impact of the IFRS 9 accounting standards, which tend to lower banks’ capital ratios by around 20 basis points when
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