Lloyds moved to reassure markets on Wednesday by playing down concerns about new tough capital requirements, but Investec still rates the stock as a 'sell'.Shares in the part-nationalised lender were up 2.29% at 62.94p before the close of trade after the company said it would be able to meet new required capital buffers without the need to fund-raise.The group is confident in its capital position and still expects its core tier-one capital ratio to be above 9.0% by the end of this year and above 10% by the end of 2014.Chief Executive António Horta-Osório hailed "substantial progress" in the delivery of its strategy. "Our strong capital position enables the group to actively support growth and lending in the UK economy as well as delivering sustainable results for our shareholders," he said.In a research report on Wednesday afternoon, Investec analyst Ian Gordon said: "Despite a lack of detail, we expect the market to be encouraged by the implicit removal of a perceived capital tail risk, with an ongoing commitment to 'further capital accretive non-core asset disposals'."He said that Lloyds has "done enough in terms of previous actual capital issuance and continuing planned balance sheet shrinkage to rebuild its core capital ratios".Nevertheless, the broker decided to stick with its negative stance on the stock given its worries about revenues and returns.Investec maintained a 50p target price for the shares, implying a downside of 19% from Tuesday's closing price of 61.53p.