The Bank Of England Tried To Ruin The Economy Today — londonist.com

Ever wondered what would happen to banks if the economy went pear-shaped? The Bank of England (BoE) has, and has put eight banks through their paces in a stress test which mimics economic meltdown to see if they would stick or fold. The Co-Operative Bank, which nearly collapsed in 2013 and lost 38,000 customers following a drugs scandal involving its former chairman, has failed the BoE’s stress test. Lloyds and Royal Bank of Scotland, both state-owned since the 2008 banking crisis, scraped through by the skin of their teeth. Which isn’t very reassuring when you consider they’ve had £66bn pumped in to keep them afloat.

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