UK’s top four lenders pass stress tests

LONDON: Britain’s four biggest lenders have passed the Bank of England’s stress tests, which are designed to show their ability to withstand a new economic crisis, the central bank said on Tuesday.

Barclays, HSBC, Royal Bank of Scotland (RBS) and Lloyds Banking Group (LBG), are strong enough to cope with a painful downturn that would see house prices plunge by 35 percent, inflation surge and unemployment soar, it said in a statement.