Lloyds Banking Group
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
The Feds are coming
Regulators in the US are cracking down on banks in their stringent anti-money laundering campaign. Nick Kochan looks at the civil penalties being imposed on financial institutions and wonders whether they are entirely justified
Lloyds TSB appoints head of FX derivatives trading
Lloyds TSB has appointed Anders Henrikson as head of foreign exchange derivatives trading in London.
Lloyds TSB makes more derivatives hires
Lloyds TSB has added four senior staff to its London derivatives team.
Lloyds TSB hires in corporate derivatives sales
Lloyds TSB has appointed Luke Walker as a manager in its corporate sales team.
Lloyds TSB makes institutional derivatives sales hires
Lloyds TSB has recruited Peter McGloughlin and Ian Shaw to its team selling derivatives to financial institutions.
Lloyds TSB appoints new leveraged syndications head
David Whiteley has been hired to manage Lloyds TSB’s newly formed leveraged loan syndication team.
The cream of the crop
OpRisk & Compliance Achievement Awards
Lloyds TSB appoints head of debt origination
Lloyds TSB Corporate Markets has appointed Farouk Ramzan to the new role of head of debt origination.
Lloyds TSB appoints new global solutions head
Chris Mitchell has been appointed head of global financial institutions solutions at Lloyds TSB Financial Markets in London. He comes from AIG, where he was head of UK derivatives marketing, and has previously worked as head of UK derivatives marketing…
Operational risk and compliance
One of the attractions of working on operational risk is the variety of the subject matter that is generally categorised under that heading. Op risk covers a series of diverse risk drivers. Examples are fraud, processing issues, and legal and regulatory…