BCS Barclays PLC

The Bank of England on Tuesday said all but one of the U.K.'s major banks passed a balance sheet health check.

The central bank's Prudential Regulation Authority put eight U.K. lenders through a hypothetical three-year economic collapse. To pass the test banks had to maintain a 4.5% ratio of capital to risk adjusted assets throughout the period.

Only one bank, the Co-operative Bank, needed to submit a revised plan to strengthen its balance sheet. Part state-owned Royal Bank of Scotland Group PLC and Lloyds Banking Group PLC only narrowly passed the test. Both need to improve their capital positions but have already put in place plans to do so, the PRA said.

Write to Max Colchester at max.colchester@wsj.com and Margot Patrick at margot.patrick@wsj.com

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