The troubled Co-operative Bank is this week likely to fail key ‘stress tests’ designed to probe the ability of Britain’s biggest lenders to withstand another financial storm.

Chief executive Niall Booker has already said it would come as ‘no surprise’ if the loss-making operation were to flunk Threadneedle Street’s tests.
Results of the tests, which model extremely bleak scenarios including a house price fall of 35 per cent and rocketing unemployment, are due tomorrow.

Co-op Bank, which is now largely owned by hedge funds, has had to raise almost £2billion of fresh capital in the past 18 months.  Booker is paid an annual basic salary of £1.2million plus an allowance of £140,000 a month for ‘the broad range of specialist skills required’.

http://www.thisismoney.co.uk/money/news/article-2873696/Co-op-fears-fail-Bank-England-stress-tests.html

 

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