Scraping a pass

Barclays didn’t get an “A” in the stress test conducted by its regulator last month. Not that you’d know it from the statement that the UK bank made at the time – or the way the result of this stress test was reported. The UK bank let observers believe that it had passed the Financial Services Authority’s stress test with flying colours. In fact, it only passed because it convinced the regulator that it had credible plans to shore up its capital and options to strengthen its position even furth...