New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 28, 2014
08:38 EDTLYGLloyds agrees to settlements with CFTC, DOJ, FCA over LIBOR rigging charges
The U.S. Commodity Futures Trading Commission issued an Order against Lloyds Banking bringing and settling charges for acts of false reporting and attempted manipulation of the London Interbank Offered Rate for Sterling, U.S. Dollar, and Yen committed by employees of Lloyds TSB and HBOS plc, which was acquired by Lloyds Banking Group in January 2009. The Order finds that, in a few instances, Lloyds TSB was successful in its manipulation of Sterling LIBOR and Yen LIBOR. The CFTC also brought and settled charges that Lloyds TSB, at times, aided and abetted the attempts of derivatives traders at Rabobank to manipulate Yen LIBOR. The Order requires Lloyds Banking Group and Lloyds Bank to pay a $105M civil monetary penalty, cease and desist from their violations of the Commodity Exchange Act, and to adhere to specific undertakings to ensure the integrity of LIBOR submissions in the future. In a related action, the U.S. Department of Justice entered into a deferred prosecution agreement with Lloyds Banking Group, deferring criminal wire fraud charges in exchange for Lloyds Banking Group continuing to cooperate and agreeing to an $86M penalty. In addition, the United Kingdom Financial Conduct Authority issued a Final Notice regarding its enforcement action against Lloyds Bank and Bank of Scotland plc and imposed collectively on both firms a penalty of approximately $179M.
News For LYG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 24, 2014
08:44 EDTLYGECB draft shows 25 EU banks set to fail stress test, Bloomberg says
Bloomberg cites a draft ECB document the news service has viewed. Publicly traded EU 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).
October 22, 2014
13:39 EDTLYGLloyds plans 9,000 job cuts over three years, Mark Kleiman says
Mark Kleiman of Sky News said in a tweet that Lloyds will cut 9,000 jobs over three years, or 10% of its workforce. An announcement is expected next week. Reference Link
October 21, 2014
08:18 EDTLYGBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU 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
October 16, 2014
06:50 EDTLYGEuropean regulator rejects bonus loophole, NY Times says
Subscribe for More Information
October 14, 2014
06:45 EDTLYGData says UK banks paid less than 40% to cover mis-selling, Reuters says
Subscribe for More Information
October 10, 2014
09:13 EDTLYGEBA says EU stress test results to be published October 26
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use