• stress tests to cover big UK banks and significant UK subsidiaries of big foreign banks
• will consider inclusion of med-size UK banks and separate tests for clearing houses
• results of stress tests for 8 UK banks will be published end 2014-15
• at the very least banks will have to hold capital to withstand stress scenarios. may be above global minimums
• tests will not be mechanically linked to policy responses. will be more graduated policy framework
• banks to be tested in 2014 will be Barclays, HSBC, Lloyds, Co-op, Nationwide,SantanderUK, Standard Chartered, RBS