All seven major UK banks have passed the Bank of England’s 2017 stress test, the first such instance since introduction of the test in 2014.

Among the seven banks, Barclays and RBS emerged as the weakest in the latest stress test.

“Based on their end 2016 capital positions, Barclays and RBS did not meet their CET1 capital ratio systemic reference points. Barclays also fell marginally below its Tier 1 leverage ratios systemic reference point,” the Bank of England (BoE) said in a statement.

However, the pair was not asked to raise their capital position as both increased their CET1 capital ratio since the end of 2016, which as per BoE is adequate to meet the test’s systemic reference points.

The central bank, however, asked all banks to raise additional £6bn capital as a precautionary measure for hard-Brexit. It also decided to raise the UK’s countercyclical capital buffer (CCB) to 1% from 0.5% to help banks prevent another credit crunch.

“The 2017 stress test shows the UK banking system is resilient to deep simultaneous recessions in the UK and global economies, large falls in asset prices and a separate stress of misconduct costs,” BoE noted.

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