RBS fails Bank of England stress test
by Jill Treanor from on (#23F28)
Taxpayer-backed bank unveils plan to bolster its capital by 2bn after faltering in annual health check of UK banking system
Royal Bank of Scotland was the biggest failure in the Bank of England's annual health check of the UK banking system and has embarked on a new plan to bolster its financial strength by 2bn.
The Edinburgh-based bank, which is 73% owned by taxpayers, is to cut costs and reduce its exposure to risky assets after the results of the toughest tests yet on the banking system were published on Wednesday.
Related: Bank of England stress tests released - business live
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