In front of HSBC's London headquarters, a bird flies past a clock as window cleaners work in London's Canary Wharf Financial District in London, Britain, October 11, 2016. REUTERS/Russell Boyce
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The Bank of England added a new, higher bar to its third round of public stress tests.HSBC Holdings and Standard Chartered's results may be rattled by a Chinese recession scenario.The BoE's test will also include Lloyds Banking Group, Banco Santander's British arm and Nationwide Building Society. The hurdle rate requires all the banks to retain capital equivalent to 4.5 percent of their assets weighted by risk, plus Pillar 2A – a requirement that varies depending on the specific risks for each bank – in the stressed scenario.It also assumes a 31 percent crash in British house prices during the five-year period, while U.K. commercial real estate dives 42 percent.Shares of the five largest U.K. banks all fell more than 1 percent at 10:50 a.m. in London, led by RBS's 2.7 percent decline.
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