Member Info for Asperger1

Tangler - Alison Rose was on a News item earlier today (Sky News I think)

Starmer's in real trouble IMO
Unlike his ideologist predecessor Sir Keir Rodney Starmer can't pretend he doesn't understand facts & logic

#Labourisdead

Mostly state owned RBS (aka Natwest group) supplying 50% of HMG support loans

Based on LSE daily tech chart I'm seeing the following gaps

20th-21st April 20 - 30.12 - closed today
14th-15th April 20 - 31.78
11th-12th Mar 20 - 42.1
21st-24th Feb 20 - 55.3
10th-13th Jan 20 - 60.3
23rd-24th Jun 16 - 71.1
27th-28th Oct 15 - 77.1

In order to help us to serve the needs of businesses and households through the extraordinary challenges presented by COVID-19, the board has decided that until the end of 2020 we will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares.

In addition, in response to a request from the Prudential Regulation Authority and to preserve additional capital for use in serving our clients, the board has agreed to 'cancel' payment of the final 2019 dividend in relation to ordinary shares. Accordingly, resolution 17 in relation to the declaration of that dividend will be withdrawn from the Annual General Meeting, scheduled to take place on 21 May 2020.
Our Board will decide on any dividend policy and amounts at year-end 2020.

https://www.lloydsbankinggroup.com/investors/shareholder-info/dividends/

This also -
Q3. If banks use their buffers, what is the expected period they will have to restore these buffers?
31. There is no pre-specified time period during which banks must rebuild their capital buffers. Once this current period of stress is over, where banks have drawn down their capital buffers, the PRA will give banks a sufficient period of time for these to be restored. In doing so the PRA will consider the individual circumstances of each bank, taking into account its capital restoration plan. These will include the bank’s capital position and the need for banks to be able to support their customers and clients as they bridge the economic disruption related to Covid-19. Where capital buffers need to be restored this will be a gradual process and the PRA will not, in general, expect banks to restore their capital buffers in full until a significant time after the end of the current stress.
32. The FPC has also made clear in its statement of 11 March 2020 that it expects to maintain the 0% rate for the CCyB for at least 12 months. Furthermore, due to the usual 12 month implementation lag, any subsequent increase would not be expected to take effect until March 2022 at the earliest. In addition, the pace of return to a standard-times rate of in the region of 2% will take into account how far banks’ capital has been depleted through this period and thus the task to rebuild capital.

https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/publication/2020/qanda-on-the-use-of-liquidity-and-capital-buffers.pdf?la=en&hash=151DF13BD8CA7E3755D515BC5A44F9A299C1235D

This also -
30. The largest UK lenders have already implemented restrictions on distributions. Their boards have recently decided to
'suspend dividends and buybacks on ordinary shares until the end of 2020',
and to
'cancel payments of any outstanding 2019 dividends'.
This will reduce the impact of the automatic restrictions on distributions that come into place as banks begin to draw down on buffers.

https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/publication/2020/qanda-on-the-use-of-liquidity-and-capital-buffers.pdf?la=en&hash=151DF13BD8CA7E3755D515BC5A44F9A299C1235D

Sorry SUF - I don't subscribe to The Times (maybe some one else can help?)

This seems to be the source -
Q4. What is the expected period banks will have to restore buffers?
18. There is no requirement to rebuild liquidity buffers within a specific time period. Once this current period of stress is over, where banks have made use of their liquidity buffers, the PRA will give banks a sufficient period of time for these to be restored. In doing so, the PRA will consider the individual circumstances of each bank. These will include the particular drivers of the bank’s liquidity position and the need for banks to be able to support their customers and clients as they bridge the economic disruption related to Covid-19.

https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/publication/2020/qanda-on-the-use-of-liquidity-and-capital-buffers.pdf?la=en&hash=151DF13BD8CA7E3755D515BC5A44F9A299C1235D

Theosus
No rush to rebuild buffers after coronavirus, Bank of England tells lenders

https://www.thetimes.co.uk/article/no-rush-to-rebuild-buffers-after-coronavirus-bank-of-england-tells-lenders-bkdqhsqdt

23awel - along with other restrictions being relaxed by the Gov our divi's are currently giving Lloyds more capacity to support companies than it would otherwise be able to do - time will tell the level of demand generated, Lloyds involvement in the project and how many businesses have met lending criteria - interesting the Gov has not moved to underwriting loans 100%, ie lending criteria will remain in place - as a previous post showed, post lockdown there is a real possibility of a 'relief recovery' in the economy, Gov has also stated bank will be allowed an extended period to rebuild their buffers - both of these suggest cash should be available for divi's when this crisis is over

I would like to think that cancelled divi's are 'effectively owed' to those on the register from the various ex divi dates but seriously doubt the market works like that :-(

Meanwhile - Q1 may give some insight next week

Breaking - Gov says it won't run out of masks if they are made compulsory

Thanks for the info Theosus - I'm not in favour of anything being 'compulsory' with the experts scepticism to their benefits in general society

Interesting to note some countries are starting to lift lockdown conditions, UK seems to be happy to let others trial first then follow suit aprox 2 weeks later, sure will be good to get back to some resemblance of normal

Who are the doves and hawks of UK's Covid-19 lockdown policy?

A look at where key figures stand, from a cautious PM to a chancellor eager to lift controls

https://www.theguardian.com/politics/2020/apr/20/doves-hawks-uk-covid-19-lockdown-policy

Compulsory face masks to lift lockdown could 'jeopardise' NHS supply

https://news.sky.com/story/coronavirus-compulsory-wearing-of-masks-in-public-could-leave-the-hospitals-short-say-nhs-providers-11976241

What’s the best way to lift a coronavirus lockdown? Germany could have the answers

https://www.cnbc.com/2020/04/21/lifting-coronavirus-lockdowns-germany-could-be-the-example-to-follow.html

Lifting lockdown requires balanced judgement - Gove

https://www.bbc.co.uk/news/uk-52344560

Based on LSE daily tech chart I'm seeing the following gaps

20th-21st April 20 - 30.12
14th-15th April 20 - 31.78
11th-12th Mar 20 - 42.1
21st-24th Feb 20 - 55.3
10th-13th Jan 20 - 60.3
23rd-24th Jun 16 - 71.1
27th-28th Oct 15 - 77.1

Based on LSE daily tech chart I'm seeing the following gaps

16th-17th April 20 - 29.89 - closed today
14th-15th April 20 - 31.78
11th-12th Mar 20 - 42.1
21st-24th Feb 20 - 55.3
10th-13th Jan 20 - 60.3
23rd-24th Jun 16 - 71.1
27th-28th Oct 15 - 77.1

Usual weekend update -
I started this fantasy portfolio in 2016 to challenge various posters perception that Lloy is 'the worst share ever' or a 'dire share', on the 8th Oct 2016 I invited WL/Newchurch to choose an alternative ftse 100 company so I could run a comparison

On 8th Oct 2016 - 1000 quid bought 206 BP. shares & 1905 Lloy shares
Today's value
BP. 206 @ 304 = 626
Lloy 1905 @ 30.5 = 581

In April 2017 Invest4life suggested I add Glencore -
On 22-4-17 - 1000 quid bought 335 Glen shares & 1553 Lloy shares
Today's value
Glen 335 @ 141 = 472
Lloy 1553 @ 30.5 = 474

In July 2017 Nucky suggested I add RBS -
On 12-7-17 1000 quid bought 384 RBS & 1512 Lloy
Today's value
RBS 384 @ 106 = 407
Lloy 1512 @ 30.5 = 461

In July 2017 Utrickytrees asked that I add BARC -
On 30-7-17 1000 quid bought 479 Barc & 1504 Lloy
Today's value
Barc 479 @ 90.7 = 434
Lloy 1504 @ 30.5 = 459

In Sept 2018 Motley Fool recommended Diageo over Lloyds
On 9-9-18 1000 quid bought 37.3 DGE & 1704 Lloy
DGE 37.3 @ 2711 = £1011
Lloy 1704 @ 30.5 = £520

Last Tuesday Theosus asked that I add Circassia -
On 14-4-20 £1000 bought 3891 CIS & 3058 Lloy
CIR 3891 @26.1 = £1016
Lloy 3058 @30.5 = £933

This weeks observation - Imposed cancellation of bank divi's had a devastating affect on the banking sector, small consolation to see Lloyd has faired better than RBS & Barc,

A very basic comparison that does no include divi yield, IMO those still suggesting Lloy is 'the worst share ever' or a 'dire share' seriously need to examine their concept of investing.

Real deal
30-3-20 I bought 15,000 Lloy @ 33.606 = £5079
Current value -
LLoy 15000 @ 30.5 = £4575

A1

Based on LSE daily tech chart I'm seeing the following gaps

16th-17th April 20 - 29.89
14th-15th April 20 - 31.78
11th-12th Mar 20 - 42.1
21st-24th Feb 20 - 55.3
10th-13th Jan 20 - 60.3
23rd-24th Jun 16 - 71.1
27th-28th Oct 15 - 77.1