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: 55.60
Bid: 55.58
Ask: 55.60
Change: 0.86 (1.57%)
Spread: 0.02 (0.036%)
Open: 54.22
High: 55.68
Low: 54.22
Prev. Close: 54.74
LLOY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UK Banks Defend Lending At Treasury Summit Thursday

Thu, 15th Jul 2010 19:04

By Margot Patrick, Laurence Norman and Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Bosses of the U.K.'s biggest banks Thursday pushed back against government claims they aren't doing their part to grow the economy by lending more to small businesses, at a meeting held between top executives and Treasury officials to discuss lending and coming regulatory reforms. The meeting covered the availability of funding for companies, financial reforms being made by the new Conservative-Liberal Democrat coalition government, and remuneration. "We met the CEOs of the U.K.'s biggest banks as part of on-going discussions on regulatory reform, and the availability of credit. It was a very constructive meeting that will help inform the Government's Green Paper on business finance which will be published shortly," said Chancellor of the Exchequer George Osborne and Secretary of State for Business Innovation and Skills Vince Cable in a joint statement following the meeting. Also at the meeting were Financial Secretary of the Treasury Mark Hoban, Lloyds Banking Group PLC (LYG) Chief Executive Officer Eric Daniels, Barclays PLC (BCS) Chief Executive John Varley, Royal Bank of Scotland Group PLC (RBS) CEO Stephen Hester and HSBC Holdings PLC (HBC) Chairman Stephen Green. Representatives for the banks and the British Bankers Association declined to comment further. Hoban in a speech on Monday said the government is considering additional taxes on financial company profits, and on Tuesday gave details of a planned GBP2.5 billion annual levy on banks. He said the Treasury will also ask the Financial Services Authority to consider fresh rules on bank pay and bonuses, if institutions don't take the lead themselves to put an end to outsized pay packages. FSA rules introduced last year and new EU regulations have already sharply curtailed the form and timing of bonuses for top bankers and traders. On lending--a sore point for the U.K. government as economic growth projections are downgraded--the Treasury has encouraged banks to increase lending levels. RBS and Lloyds in late March agreed to make GBP94 billion in gross loans available to businesses in the U.K. over 12 months. But they, as well as Barclays and HSBC, have said they aren't seeing heavy demand for loans and that existing facilities aren't fully drawn. -By Marietta Cauchi, Laurence Norman and Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; margot.patrick@dowjones.com (END) Dow Jones Newswires July 15, 2010 14:04 ET (18:04 GMT)
More News
6 Jul 2023 06:19

UK FCA to discuss savings rates concerns with bank chiefs

(Alliance News) - Bank chiefs are meeting Financial Conduct Authority officials on Thursday to discuss concerns surrounding interest rates for savers lagging behind the cost of mortgages.

Read more
4 Jul 2023 07:53

LONDON BRIEFING: Sainsbury's sales up; Eurowag buys more of JITpay

(Alliance News) - Stocks in London are to open a touch lower on Tuesday, with little in the way of catalysts for global markets, given a lack of major data and a holiday in the US.

Read more
4 Jul 2023 07:24

FCA summons bank chiefs over low savings rate concerns

(Sharecast News) - The Financial Conduct Authority (FCA) has called on the chief executives of major banks to address concerns over the low savings rates being offered to customers, it emerged on Tuesday.

Read more
3 Jul 2023 17:15

UK banks asked by lawmakers if they're 'exploiting' savers with low rates

LONDON, July 3 (Reuters) - British banks faced fresh criticism on Monday for the savings rates they offer to cash-strapped customers, in the latest intervention by parliament's influential Treasury Select Committee.

Read more
3 Jul 2023 11:06

IN BRIEF: Capita extends revolving credit facility to end of 2026

Capita PLC - London-based process outsourcing and professional services company - Extends the maturity of its revolving credit facility by just over two years to December 31, 2026 from August 31, 2024. The available facility is for GBP284 million, reducing to GBP250 million by January 1, 2025. The facility was arranged by seven lenders. These comprised two new banking partners, Standard Chartered PLC and the London branch of Bank of China Ltd, plus five existing lenders, including Barclays Bank PLC and Lloyds Banking Group PLC. The original terms of the RCF are "substantially unchanged." Barclays acted as the coordinator for the arrangement.

Read more
3 Jul 2023 09:37

LONDON BROKER RATINGS: Stifel cuts Croda International to 'hold'

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

Read more
3 Jul 2023 09:26

UK banks criticised by lawmakers for 'measly' savings rates

LONDON, July 3 (Reuters) - British banks faced fresh criticism on Monday for the savings rates they offer to cash-strapped customers, in the latest intervention by parliament's influential Treasury Select Committee.

Read more
30 Jun 2023 13:09

British mortgage lenders now have options in place to ease interest rate pain -FCA

LONDON, June 30 (Reuters) - Banks and building societies in Britain now have options in place to offer to mortgage customers to ease the pain of rising interest rates, the Financial Conduct Authority (FCA) said on Friday.

Read more
30 Jun 2023 12:39

British mortgage lenders can offer options to help ease interest rate pain -FCA

LONDON, June 30 (Reuters) - Banks and building societies in Britain can offer mortgage customers options to ease the pain of rising interest rates, the Financial Conduct Authority (FCA) said on Friday.

Read more
30 Jun 2023 09:39

TOP NEWS: Barratt Developments sells over 600 homes to Lloyds Banking

(Alliance News) - Barratt Developments PLC on Friday said it will sell 604 homes to Citra Living Properties Ltd for GBP168.4 million in cash.

Read more
30 Jun 2023 09:22

LONDON MARKET OPEN: Stocks rise amid strong US economic outlook

(Alliance News) - European markets opened higher on Friday, shaking off weak economic data from China and instead taking heart from stronger economic growth from the US.

Read more
30 Jun 2023 08:22

UK's Barratt looks to boost revenue with $212.6 mln homes sale deal with Citra

June 30 (Reuters) - Barratt Developments on Friday said it had agreed to sell 604 homes to Lloyds' private rental subsidiary Citra Living for 168.4 million pounds ($212.57 million) in cash, as Britain's largest housebuilder looks to diversify revenue.

Read more
30 Jun 2023 07:56

LONDON BRIEFING: Markets ponder strong US economy, slow China recovery

(Alliance News) - Stocks in London were called higher on Friday, as investors weighed conflicting economic data from the world's two largest economies.

Read more
29 Jun 2023 12:35

Intel vs Nvidia: mind the gap

STOXX Europe 600 up 0.3%

*

Read more
29 Jun 2023 11:28

What a PP, Vox-led Spain could mean for equities?

STOXX Europe 600 up 0.1%

*

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.