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LONDON, Nov 30 (Reuters) - The final batch of post-financial
crisis bank capital rules will be introduced in Britain before
or at the same time as in the European Union, Bank of England
Deputy Governor Sam Woods said on Tuesday.

Brussels has proposed introducing the final rules in 2025,
two years later than agreed by the global Basel Committee, which
set tougher capital standards after lenders were bailed out by
taxpayers over a decade ago.

Basel has already delayed their introduction by a year to
January 2023 to give banks time to move on from the COVID-19
pandemic.

Woods told a Financial Times event that the BoE won't set
out its proposals for implementing the final rules until the
second half of next year, making Basel's January 2023 deadline
impossible to meet.

"I would be extremely disappointed if we would be behind the
EU timing in our implementation, and I do not expect that,"
Woods said.

"The only question is whether we are ahead or whether we are
at the same time."

Banks that used London as their European base are facing
pressure from the European Central Bank to move more staff and
activities to their new Brexit hubs in the EU.

Several branches of EU banks are based in London but Woods
said he was not in any "tit-for-tat game", though reducing
UK-based banks to empty shells would be "totally unacceptable".

"We do need to keep an eye on it going forward," Woods said.

He softened his opposition to having a formal remit to
maintain the competitiveness of a post-Brexit London as a global
financial centre when setting financial rules.

The British government has proposed adding growth and
competitiveness as a secondary objective for BoE rulemaking to
its main remit of keeping banks and insurers safe.

"What the government has put forward ... I actually think is
quite sensible. I think that will be fine," Woods said. "People
should not expect us to lower standards after Brexit. We have
absolutely no intention of doing that."

Banks in Britain hold enough capital to withstand outcomes
much worse than the BoE expects, with a repeat on last year's
curbs on bank dividends at the height of the pandemic unlikely,
Woods said.
(Reporting by Huw Jones
Editing by Paul Simao)

https://www.msn.com/en-gb/money/companies/tsb-announces-plan-to-close-70-bank-branches-next-year/ar-AARitQc?ocid=msedgntp

Ill take it Sufc.. My shareholding is growing buy the day, so is my impatience but I can see the light flashing away at the end of the tunnel..

LBG BoD will have to distribute/sell off bits/break up the group one day, even the II's will get P****D off sooner or later!!

How about AJ Bell?

I'm sure there's is going to be sales of Lloyds Auotlease etc along the way???

Suf.

Anything that increases profit/buybacks/dividends
I'll take 7p + dividend and buybacks over next two years!!

Hargreaves's Landsdown, Quilter, Interactive Investor etc

Personal pension providers told to warn of inflation risks
Regulator worries over growing number of unadvised savers who hold cash
Josephine Cumbo 53 MINUTES AGO

Personal pension providers are to be required to send inflation warnings to customers holding large amounts of cash in their funds, under new proposals unveiled by the regulator.

In a move aimed at the fast-growing personal pensions market, the Financial Conduct Authority (FCA) is forcing providers to do more to help unadvised customers make better investment decisions.

About 125,000 people who do not have the help of an adviser are opening non-workplace pensions every year. These schemes mainly comprise personal pensions and self invested personal pensions.

They are often used by self-employed people without access to a workplace pension, as well as by consumers wanting to supplement their workplace pension savings or consolidate existing pension pots.

But the FCA said individuals opening non-workplace pensions (NWPs), without the help of an adviser, were finding it difficult to “identify appropriate investments, or leaving large amounts of their pension pot in cash”.

Smartphone pensions: should you switch?

Digital providers seek a slice of the £1tn retirement savings market — but are they good value for savers?

Under its proposals, published on Thursday, providers of both individual and self-invested personal pensions will be obliged to send warnings to consumers who have more than 25 per cent of their personal pension assets invested in cash for more than six months.

“Our proposals for cash warnings are to warn consumers invested in cash that their pension savings are at risk of being eroded by inflation. We want to prompt these consumers to consider investing in growth assets, since the cumulative effect of being invested in cash can mean a much smaller pension pot at retirement,” the FCA said in its consultation on the proposals.

Companies will also be required to offer ready-made, standardised investment solutions to customers opening a personal pension account.

“As the market for non-workplace pensions has developed, the range of investments available for inclusion in an NWP has become increasingly wide,” the FCA said.

“Non-advised consumers buying an NWP often have little investment expertise and may not find it easy to engage with the choice and comple

Hard up. I agree with you.

I'm surprised this not more than 50p as it looks defo rates are going to rise!!??

David Cameron lobbied Tory associate at Lloyds Bank to rescue Greensill deal

UK lender maintained ties with ailing supply-chain finance firm after Lord James Lupton intervened

Former PM David Cameron, left, contacted Lord James Lupton, a Lloyds director and a former Tory party treasurer, in a successful attempt to persuade the bank to keep doing business with Greensill © FT montage; Getty
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Stephen Morris, Robert Smith and Jim Pickard in London 2 HOURS AGO
49
David Cameron lobbied Lloyds Banking Group to reverse a decision to cut ties with the ailing Greensill Capital, appealing to a board member whom he had ennobled while prime minister.

Cameron lobbied Lloyds in January, according to people familiar with the matter, when he contacted Lord James Lupton, a director of the bank who had previously been a Conservative party treasurer, in a successful attempt to persuade the bank to continue doing business with Greensill.

Lupton, Tory treasurer from 2013 to 2016, has donated more than £3m to the Conservative party and was appointed to the House of Lords in 2015, sparking accusations of cronyism against then-prime minister Cameron from rival politicians.

Cameron earned millions of pounds as a boardroom adviser to Greensill, the supply-chain finance company whose unravelling earlier this year dragged the former prime minister into Westminster’s biggest lobbying scandal for a generation.

Months before Greensill’s collapse in March, Lloyds indicated that it would stop doing business with the group, jeopardising a supply-chain finance scheme for NHS pharmacies operated by Greensill that relied heavily on the UK bank for funding.

After Cameron’s plea — which flagged the threat Lloyds’ withdrawal posed to the NHS scheme — the bank reconsidered its decision and agreed to continue funding the pharmacies for a period, said the people familiar with the matter.

Lupton had declared his relationship with Cameron when passing on the former prime minister’s request. However, some people inside the bank found the former prime minister’s intervention via Lupton to be surprising and unwelcome, coming after the lender had made a business decision to end the relationship. They said it was decisive in causing the U-turn.

Lloyds said: “The decision to continue this facility in January 2021 was made on the usual commercial basis and in recognition of the importance of maintaining

CLICK ON LINK

https://www.ft.com/

Exactly!! More on the bottom line every year as high coupon being paid out.

https://www.lse.co.uk/rns/LLOY/tender-offer-first-results-bxrazkkkw3z7phf.html

Ditto Suf

Here here JimV

https://www.dailymail.co.uk/money/markets/article-10218269/Barclays-axe-300-Premier-account-managers-cost-cutting-drive.html

ITS A LOAD OF BS, RICH GETTING RICHER!! F**** SHAREHOLDERS, WHO ARE THEY?!!

BREAK UP LBG AND FLOAT THE SEPARATE COMPANIES IS THE ONLY TO GET ANY VALUE FROM THIS BANK. TO COMPLICATED TO VALUE!!!