Lloyds Banking Group
Contingency plans
Following recent issues of contingent capital by Lloyds Banking Group and Rabobank, other firms are eyeing similar issuance as a means of meeting higher capital requirements in a cost-effective way. But the Basel Committee, which is due to discuss the…
A choice of credit ratings
Investors can choose between a Triple B and a Single A rated bank issuer in this five-year rollover plan, and receive different coupon payments on the basis of this choice as long as index levels at the product’s anniversaries are above the strike level
Disposal expert
John Crompton, head of market investments at UK Financial Investments, talks to Alexander Campbell
UK may issue exchangeable gilts
The UK Treasury may issue bonds exchangeable into shares of Royal Bank of Scotland and Lloyds TSB, according to the asset manager responsible for the government's stakes in the two banks.
Bank CDSs hit by poor results
Market sentiment towards financials has been varied in the past week as more second-quarter bank results were announced.
European banks report modest Q2, despite increased provisioning
Top Spanish, German and Swiss banks have reported modest gains in the second quarter, although their profits have been constrained by an increase in non-performing loans and loan loss provisioning.
Lock, stock and barrel
Mergers
Lloyds asset protection deal sends shares tumbling
Shares in Lloyds Banking Group have fallen after it confirmed that it would put £250 billion of toxic assets into the UK government's asset protection scheme.
Lloyds asset protection scheme talks stall as HBOS losses confirmed
Lloyds Banking Group, which today confirmed that Halifax Bank of Scotland (HBOS) lost £10.8 billion in 2008, remains locked in talks with the UK government about participation in its asset protection scheme.
RBS signs up to UK's asset-protection scheme
Royal Bank of Scotland (RBS), which today announced 2008 losses of £24.1 billion, has become the first bank to sign up to the UK government's asset-protection scheme, which will offer insurance against future losses in return for a promise to increase…
Lloyds' HBOS losses highlight flaws in FSA capital measures
With UK banking group Lloyds set to announce heavy 2008 losses later this week, industry observers are turning against plans from the UK Financial Services Authority (FSA) to loosen bank capital requirements.
US fines Lloyds TSB $350m for breaking international rules
Losses & Lawsuits
RBS, HBOS and Lloyds TSB ask for government capital
The UK government announced this morning it will pour a total of £37 billion into Royal Bank of Scotland (RBS), HBOS and Lloyds TSB, as part of a recapitalisation plan revealed last week.
CDS spreads push out as bailout drags on
The cost of protection on some of the world’s largest dealers surged on Friday as uncertainty grew over the US government’s $700 billion plan to purchase devalued assets from financial institutions.
CDS spreads continue to tighten
Credit default swap (CDS) spreads on financial institutions had tightened further by close of play on September 19, as market confidence continued to rise after large injections of cash from central banks