Just a heads up that at around 7am gmt tomorrow the BOE release the results from the UK bank stress tests. The UK tests have added a few extra hoops for banks to jump through, above those of the ECB tests.
There’s 8 banks up on the block;
- Santander
- Lloyds
- Nationwide
- HSBC
- Co-op
- Barclays
- RBS
- Standard Chartered
The Co-op is expected to be the one that fails (if at all)
Lloyds (25%) and RBS (80%) are still in the hands of the UK taxpayer so they should be toeing the line smartish, but are the big risk for the tests.
As type GBP/USD is back up to 1.5650 sharpish in very choppy trading at the moment.
