UK lenders pass stress tests as Bank of England warns of more mortgage pain
by Kalyeena Makortoff Banking correspondent from on (#6CX51)
Banks could weather 125bn hit in economic downturn' despite rising interest rates
The UK's largest banks are strong enough to weather a 125bn financial hit during a severe economic downturn, despite facing mounting stress from rising interest rates, the Bank of England said.
The central bank's annual stress test of the country's biggest lenders - which include NatWest, Barclays, HSBC, Lloyds, Standard Chartered, the UK arm of Santander, Nationwide building society and Virgin Money UK - determined that they would be able to continue lending to households and businesses even if conditions worsened.
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