U.K. Banks to Stress Again

It has been reported that the FSA (Financial Services Authority), the U.K. bank regulator, has instructed banks to conduct a new stress test.  The test would cover the following assumptions:

1.  A double dip recession;
2.  Unemployment reaching 13.3%;
3.  A further GDP contraction of 2.3% (8.1% from the peak).

The report of this comes from Brooke Masters writing at ft.com.

Disclosure: No positions.