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RBS, Lloyds Barely Pass U.K. Stress Test as Co-Op Bank Fails

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Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc, Britain’s two publicly owned lenders, barely passed the Bank of England’s first stress test, while Co-Operative Bank Plc failed.

Co-Operative Bank will now cut 5.5 billion pounds ($8.6 billion) more assets by 2018 under a plan agreed with the regulator. RBS said it will sell 2 billion pounds of notes to bolster capital. None of the banks will have to sell new stock.