The banks involved in the Bank of England’s 2016 stress tests are Barclays, HSBC Holdings, Lloyds Banking Group, Nationwide Building Society, The Royal Bank of Scotland Group, Santander UK and Standard Chartered.

The 2016 stress test assesses the resilience of the UK banking system to a severe slowdown in the UK and global economies.

The Bank of England describes the test as not a forecast but rather a “coherent ‘tail risk’ scenario designed to be severe and broad enough to assess the resilience of UK banks to a severe shock”.

Final decisions on the results of the stress tests will be made on 29 November 2016 and will be fed back to the firms involved on the same day. The results will be published alongside the BOE Financial Stability Report at 7am (UK time) on 30 November.

The 2016 stress tests assess the risks to the banking system emanating from the financial cycle. Starting in 2017, the tests will for the first time include two scenarios to assess banks’ resilience to a wider range of potential threats. Details of the scenarios will be published in Q1 2017.

 

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