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Stock Market & Financial Investment News

News Breaks
November 1, 2012
06:56 EDTLYGLloyds Banking lowers 2012 impairment charge expectations to GBP 6B
Lloyds Banking said it remains confident in achieving its existing guidance, including for the Group banking net interest margin to be around 1.93% for 2012. In addition it now expects the cost base to be close to GBP 10B in 2012, two years ahead of the original plan, a reduction of around GBP 1B since 2010. Lloyds further lowered its guidance for the Groupís full year 2012 impairment charge to approximately GBP 6B, around GBP 1.2B lower than expectations at the beginning of the year. The bank added, "We continue to be successful in achieving reductions that are capital generative. We also expect to reach our long-term loan to deposit ratio target of 100 per cent for the core business in the first quarter of 2013, at the same time as reaching a 120 per cent loan to deposit ratio for the Group. We remain confident of meeting future regulatory capital requirements, and continue to explore with our regulators the benefits of becoming a ring-fenced bank ahead of the regulatory deadline."
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July 28, 2014
08:41 EDTLYGLloyds confirms settlements totalling GBP218M to resolve LIBOR charges
Lloyds Banking announces that it has reached settlements totalling GBP218M to resolve with U.K. and U.S. federal authorities legacy issues regarding the manipulation several years ago of Group companies' submissions to the British Bankers' Association London Interbank Offered Rate and Sterling Repo Rate. "The Group condemns the actions of the individuals responsible for the conduct in question, which it regards as totally unacceptable and unrepresentative of the cultural changes that the Group has implemented. The actions will be deplored by all employees. The manipulation of submissions covered by the settlements took place between May 2006 and 2009 and the individuals involved have either left the Group, been suspended or are subject to disciplinary proceedings. The Group's Board will now consider all the remuneration implications and potential actions available to it. The issues subject to the settlements were restricted to a specific area of the business and were not known about or condoned by the senior management of the Group at that time. In March 2011, Lloyds Banking Group's management proactively strengthened the systems and controls governing its LIBOR submissions. The Group further supplemented these systems and controls following the publication of the Wheatley Review," Lloyds stated.
08:38 EDTLYGLloyds agrees to settlements with CFTC, DOJ, FCA over LIBOR rigging charges
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06:12 EDTLYGLloyds to probe 15 staff members over Libor rigging accusations, Daily Mail says
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July 27, 2014
16:03 EDTLYGUK's stake in Lloyds Banking may be sold as early as October, Mail Online says
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July 25, 2014
06:40 EDTLYGLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link
06:03 EDTLYGLloyds confirms late stage settlement discussions with agencies
Lloyds Banking Group notes the recent media coverage regarding potential settlements with a number of government agencies and their investigations into submissions, communications and procedures around the setting of Interbank Offered Rates and other benchmarks. LBG confirms that it is in late-stage settlement discussions with a number of agencies. The settlements remain to be agreed and LBG expects they will include the payment of penalties. LBG will update the market on these issues as appropriate.
July 24, 2014
15:00 EDTLYGLloyds to announce Libor fines of up to GBP300M next week, FT says
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July 18, 2014
11:21 EDTLYGBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
July 16, 2014
10:24 EDTLYGHigh option volume stocks:
High option volume stocks: AMSC FTNT LYG TSEM FOXA HCA BKE XON LCI ASML
July 15, 2014
10:24 EDTLYGLloyds gets closer to libor deal with U.S., U.K., WSJ says
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