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Stock Market & Financial Investment News

News Breaks
November 8, 2012
09:53 EDTLYGLloyds Banking outlook lowered to negative from stable by S&P
Standard & Poor's Ratings noted Lloyds has recently announced a further GBP1B provision in relation to payment protection insurance, bringing the cumulative provision over the past two years to about GBP5.3B. S&P said, "This charge, together with other exceptional items, negatively affects our assessment of Lloyds' capital and earnings. As a result, we are less likely to revise this assessment to "adequate" from "moderate" over the next 12 months. We are therefore revising our outlook on the long-term rating on Lloyds to negative from stable. We are also affirming our 'A/A-1' ratings on Lloyds."
News For LYG From The Last 14 Days
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December 17, 2014
13:24 EDTLYGMorgan Stanley gets GBP1 fee to sell stake in Lloyds, WSJ says
Morgan Stanley (MS) has landed a prestigious deal and will collect a fee of GBP1 or $1.57 to sell down a potentially large stake in Lloyds Banking Group (LYG), says the Wall Street Journal. Morgan Stanley has until June 30, 2015 to sell what may amount to GBP3B worth of stock, added the Wall Street Journal. Reference Link
09:50 EDTLYGUK Financial Investments announces intent to sell shares in Lloyds Banking
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December 16, 2014
06:56 EDTLYGRoyal Bank of Scotland, Lloyds fail stress test, NY Times says
The Royal Bank of Scotland (RBS) and Lloyds (LYG) failed a stress test performed by the Bank of England, according to The New York Times. The central bank found that Royal Bank and Lloyds would not have had enough capital to withstand a severe financial shock at the end of last year, the newspaper stated. However, Lloyds has raised enough capital this year to survive the stress test scenario, the newspaper quoted the Bank of England as saying. Reference Link
06:35 EDTLYGBank of England says seven of eight banks pass stress test
The Bank of England said that all but one of the eight banks passed its stress test. The one bank, Co-operative, needs to submit a revised plan to strengthen its balance sheet. Royal Bank of Scotland (RBS), Lloyds (LYG) and Co-operative were found to be the most susceptible to a housing crash and spike in unemployment. RBS and Lloyds passed the stress test, however. Both banks need improved capital positions, but have already put in place plans to do so, the central bank's Prudential Regulation Authority stated. Reference Link
December 11, 2014
13:40 EDTLYGEuro zone banks accepted $160B in low interest loans, NY Times says
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December 3, 2014
06:34 EDTLYGLloyds sells Irish mortgage portfolio Goldman Sachs, CarVal, Financial Times say
Lloyds Banking (LYG) sells its Irish mortgage portbolio to Goldman Sachs (GS) and CarVal, reports the Financial Times. Lloyds is withdrawing from its heavily lossmaking Irish operation, which had GBP 19.7B of net exposure at its peak in 2010. The sale, agreed over the weekend, leaves Lloyds with GBP 1B of net exposure to Irish non-performing loans. Reference Link

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