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RBS says to take action to improve capital after failing stress test
November 30, 2016 / 7:25 AM / a year ago

RBS says to take action to improve capital after failing stress test

LONDON (Reuters) - Royal Bank of Scotland (RBS.L) has agreed a plan of action with the Bank of England’s regulatory arm to improve its capital levels after failing an annual stress test, it said on Wednesday.

A flag flies above the head office of the Royal Bank of Scotland (RBS) in St Andrew Square in Edinburgh, Scotland September 11, 2014. REUTERS/Russell Cheyne/File Photo

The majority state-owned bank said it would take actions including selling non-core loans, cutting costs and reducing assets across the bank which together should make up the capital shortfall but it could have to take further action.

“Additional management actions may be required until RBS’s balance sheet is sufficiently resilient to stressed scenarios,” the bank said.

Reporting By Lawrence White; Editing by Greg Mahlich

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