UPDATE: UK banks not among eight to fail EU stress tests

Of the institutions that failed, five were from Spain, two were from Austria and one from Greece, while a further 16 banks are in the danger zone. The UK's ‘big four' banks all passed the tests, having core tier one capital ratios of above 5%. HSBC fared best, with a capital ratio of 8.5%, while Lloyds had 7.7%, Barclays 7.3%, and Royal Bank of Scotland had 6.3%. The EU-wide tests included 90 institutions in 21 countries, representing 65% of assets in the sector. The European Banking Authority (EBA) said 16 banks had a core tier one capital ratio of between 5% and 6%, but eight banks...