focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 55.52
Bid: 55.48
Ask: 55.50
Change: 0.50 (0.91%)
Spread: 0.02 (0.036%)
Open: 55.00
High: 55.56
Low: 54.96
Prev. Close: 55.02
LLOY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

British banks face ring-fence between retail and investment arms

Wed, 15th Jun 2011 10:36

British banks are to be forced to ring-fence their retail and investment operations.The idea is to protect high street bank customers losing their savings if investment bankers suffer heavy losses, as they did during the financial crisis of 2008.The Chancellor of the Exchequer, George Osborne, is expected to announce the policy this evening during his annual Mansion House speech following recommendations made by Sir John Vickers, the former chief economist at the Bank of England.The banking industry is split over whether the proposed changes are a good idea. The UK's biggest bank, HSBC, has said separating investment and retail activities could be a good thing, while Stephen Hester, the Chief Executive of RBS has argued the reverse and claims it will lead to higher costs for consumers.Exactly how the so called "firewall" between investment and retail will work is not yet clear but some reports suggest the Chancellor will call for retail banking operations to have their own IT systems, offices and funding completely separate from other parts of the company. This, it is hoped, would ensure they could operate in the event of failure elsewhere.This evening's Mansion House speech is, according to the BBC, also likely to touch on the vexed issue of how much capital banks must keep in reserve to protect themselves in a crisis. It cites treasury sources as saying the figure could be as high as 10% of the value of the bank's risky assets. Some bankers would see this as a severe restriction on their freedom to act in the market-place. It is also expected that George Osborne will announce this evening how the government intends to deal with the disposal of Northern Rock, the former building society whose collapse signalled the beginning of the banking crisis in the UK.Reports suggest a "good bank" - made up of 70 Northern Rock branches and customers' savings accounts - will be sold to the private sector while the government will retain the so called "bad bank" containing the risky loans that were the cause of so many problems in 2008.News of the UK government's plans for the banking sector left bank stocks the worst performers in the Europe Stoxx 600 index in early trading.BS
More News
26 Jun 2023 16:28

UK finance minister Hunt says banks are slow to pass on rate hikes to savers

LONDON, June 26 (Reuters) - Britain's finance minister Jeremy Hunt said on Monday that banks are too slow to pass on increases in central bank interest rates to savers and this is a problem that needs to be resolved.

Read more
26 Jun 2023 11:57

LONDON MARKET MIDDAY: Risk-off amid higher rates, Russia instability

Alliance News) - Stock prices in London were lower at midday on Monday, as an aborted uprising in Russia over the weekend and hawkish moves from central banks over the past two weeks caused investors to tread carefully.

Read more
26 Jun 2023 10:10

JPMorgan downgrades Lloyds to 'underweight'

(Sharecast News) - JPMorgan Cazenove downgraded its stance on Lloyds on Monday as it took a look at UK banks.

Read more
26 Jun 2023 08:55

LONDON BROKER RATINGS: JPMorgan cuts Lloyds Banking to 'underweight'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
26 Jun 2023 07:56

LONDON BRIEFING: Stocks firm; Aston Martin signs Lucid, Mercedes deals

(Alliance News) - Stocks in London were set to start the new week marginally lower, with financial markets unfazed by a failed revolt by a mercenary army in Russia over the weekend.

Read more
26 Jun 2023 07:40

Broker tips: Lloyds, Cranswick, On The Beach

(Sharecast News) - JPMorgan Cazenove downgraded its stance on Lloyds on Monday as it took a look at UK banks.

Read more
23 Jun 2023 15:50

UK banks agree limited mortgage relief measures for stressed borrowers

LONDON, June 23 (Reuters) - British banks agreed on Friday to give homeowners who miss mortgage payments a year of grace before foreclosing and to protect credit scores of borrowers who change loan terms, as the government sought to ease the strain of rising interest rates.

Read more
23 Jun 2023 14:15

UK Chancellor Hunt agrees measures with banks to cool mortgage crisis

(Alliance News) - UK Chancellor Jeremy Hunt has agreed measures with lenders aimed at helping mortgage holders struggling with high interest rates, but has resisted offering government support.

Read more
23 Jun 2023 13:12

UK's Hunt: Agreed measures with banks to ease mortgage payments strain

LONDON, June 23 (Reuters) - British finance minister Jeremy Hunt said he had agreed new measures with bank lenders on Friday to help ease the pressure on mortgage holders of raising interest rates.

Read more
23 Jun 2023 12:09

LONDON MARKET MIDDAY: Housebuilders bear brunt of rate hike worries

(Alliance News) - Stock prices in London were lower heading into Friday afternoon, as a poor week for equities continued, with investors fretting over the prospect of central banks keeping interest rates higher for longer.

Read more
22 Jun 2023 07:00

UK banks to ramp up data sharing in dirty money crackdown

Lloyds, NatWest among major banks involved in trials -sources

*

Read more
21 Jun 2023 17:18

London stocks fall after inflation data shock, homebuilders slump

UK's stubborn inflation fails to fall in May

*

Read more
21 Jun 2023 11:57

UK's Hunt says banks must honour commitments on mortgage help

LONDON, June 21 (Reuters) - British finance minister Jeremy Hunt said on Wednesday that mortgage lenders had to live up to their commitments to help borrowers struggling with higher interest rates.

Read more
20 Jun 2023 12:28

UK's Hunt to meet lenders to discuss mortgage forbearance

LONDON, June 20 (Reuters) - British finance minister Jeremy Hunt on Tuesday said he would meet major lenders later this week to ask them to show forbearance towards households who struggle to pay rising mortgage bills.

Read more
9 Jun 2023 14:02

Broker tips: Hammerson, Lloyds, British Land, Landsec

(Sharecast News) - Barclays upgraded Hammerson on Friday to 'overweight' from 'underweight' and lifted the price target to 30p from 25p.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.