Image copyright Getty Images RBS is the worst prepared of the UK"s biggest lenders to cope with another financial crisis, Bank of England (BoE) stress tests have found.
The results forced RBS to devise plans to bolster its balance sheet by £2bn through cost cuts and shedding assets.
Under the “very severe” tests, banks had to be able to handle a house price crash in the UK and a global recession.
The BoE found Barclays and Standard Chartered also missed key hurdles but had already taken steps to cope.
RBS, which is still 73% owned by the government after its bailout during the 2008 financial crisis, said it had “agreed a revised capital plan… to improve its stress resilience”.
It said the change came “in light of the various challenges and uncertainties facing both the bank and the wider economy highlighted by the concurrent stress testing process”.
"Action taken"RBS submitted the new plan to the Bank after running its own internal tests and finding its balance sheet ..
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