Lloyds Banking Group Plc

Type: Company
Name: Lloyds Banking Group Plc
First reported 2 hours ago - Updated 1 hour ago - 2 reports

Lloyds Banking Group fined £218 million for "reprehensible" conduct

Lloyds Banking Group has been fined a total of £218 million by UK and US regulators for “serious misconduct” relating to interest rate rigging.The bank’s misdemeanours included the attempted rigging of the LIBOR rate and the repo rate benchmarks, investigators ... [Published Which4U.co.uk - 1 hour ago]
First reported Jul 28 2014 - Updated 4 hours ago - 7 reports

CFTC Charges Lloyds Banking Group and Lloyds Bank with Manipulation, Attempted Manipulation, and False Reporting of LIBOR

WASHINGTON, July 28 -- The Commodity Futures Trading Commission issued the following enforcement news release: The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order against Lloyds Banking Group plc and Lloyds Bank plc, formerly . ... [Published Street Sweeper - 4 hours ago]
First reported Jul 28 2014 - Updated 5 hours ago - 11 reports

Lloyds suspends seven employees after £217m fine

Lloyds Banking Group has suspended seven employees after it was hit by a £217 million fine by the Financial Conduct Authority (FCA) and US regulators for rigging interest rates.Lloyds  was also censured for deliberately reducing the fees it paid to the ... [Published Citywire - 7 hours ago]
First reported Jul 28 2014 - Updated 7 hours ago - 2 reports

Lloyds Banking Group Admits Wrongdoing in LIBOR Investigation, Agrees to Pay $86 Million Criminal Penalty

Lloyds Banking Group plc has entered into an agreement with the Department of Justice to pay an $86 million penalty for manipulation of submissions for the London InterBank Offered Rate (LIBOR), a leading global benchmark interest rate.Assistant Attorney ... [Published BusinessWeek - 7 hours ago]
First reported Jul 28 2014 - Updated 10 hours ago - 3 reports

Kipper Williams on Lloyds Banking Group's Libor fine

Photograph: /Guardian ...Sign up for the Guardian Today Our editors' picks for the day's top news and commentary delivered to your inbox each morning.Sign up for the daily email ... [Published NewsRT.co.uk - 10 hours ago]
First reported Jul 28 2014 - Updated 10 hours ago - 5 reports

Aberdeen hit by outflows after client pulls £4bn

EUROPE’S biggest independent fund manager Aberdeen Asset Manage­ment fell more than five per cent in trading yesterday after it reported a small dip in the amount of cash it managed for customers.Aberdeen, head by chief executive Martin Gilbert, said ... [Published City A.M. - 15 hours ago]
First reported 16 hours ago - Updated 16 hours ago - 2 reports

'Unlawful bankers' and new diesel charges - the papers

The Guardian is one of a number of Tuesday's paper that lead on the reaction of Bank of England governor Mark Carney to bankers involved in an interest rate rigging scandal. The paper notes that Lloyds Banking Group has had to pay £225.8m in fines and ... [Published Austin American Statesman - 16 hours ago]
First reported Jul 28 2014 - Updated 18 hours ago - 71 reports

Libor fines for Lloyds include penalty for SLS underpayment

Banking group took state aid, then lied over terms of its repayment Lloyds Banking Group's £226 million rate-manipulation bill includes £78 million for rigging the repayment rate for the government Special Liquidity Scheme brought in to save the bank ... [Published OpRisk & Compliance Magazine - 18 hours ago]
First reported Jul 28 2014 - Updated Jul 28 2014 - 4 reports

Fall in financial stocks weighs on Britain's FTSE

A slide in financial stocks, including Aberdeen Asset Management  ( >> Aberdeen Asset Management plc ) , knocked back Britain's top equity index on Monday, to its lowest level in nearly a week.A slide in financial stocks, including Aberdeen Asset ... [Published 4 Traders - Jul 28 2014]
First reported Jul 28 2014 - Updated Jul 28 2014 - 2 reports

BoE statement on FCA enforcement action against Lloyds banking group

The Bank of England (BoE) has published a statement about the enforcement action taken by the FCA against Lloyds Bank plc and the Bank of Scotland plc. ... [Published Practical Law Company - Jul 28 2014]
First reported Jul 28 2014 - Updated Jul 28 2014 - 3 reports

Transparency Is Good for Markets: Chilton

July 28 (Bloomberg) -- Lloyds Banking Group Plc agreed to pay $370 million to U.K. and U.S. authorities for manipulating benchmark interest rates such as Libor. Former CFTC Commissioner Bart Chilton speaks on “In The Loop.” (Source: Bloomberg)A former ... [Published Bloomberg - Jul 28 2014]
First reported Jul 27 2014 - Updated Jul 27 2014 - 2 reports

Lloyds Banking Group's total bill for PPI scandal set to top £10bn

Lloyds Banking Group is to set aside another £500m to compensate customers mis-sold payment protection insurance – taking its total bill for the scandal to more than £10bn.The state-backed lender is also expected to be fined up to £300m after an investigation ... [Published This Is Money - Jul 27 2014]

Quotes

The Chairman at Lloyds, Lord Blackwell, agreed that the bank’s conduct was “truly shocking”, especially since it was "on a lifeline of public support”."
"I am also convinced that it is entirely unrepresentative of the vast majority of our staff who are committed to delivering outstanding service and doing the right thing for customers, recognising that trust is at the core of our business."
"Whilst clawback may be legally possible, the actual ability to enforce clawback will be dependent on the decision of a court to enforce clawback clauses in employment contracts" it added
"The share have been reasonably strong over the last couple of weeks and people were expecting a beat and it has only come inin line" said David McCann, an analyst at Numis Securities

More Content

All (1727) | News (1572) | Reports (0) | Blogs (139) | Audio/Video (4) | Fact Sheets (4) | Press Releases (7)
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The perverse consequences of punishing the banks [Published Spectator - 20 mins ago]
The perverse consequences of punishing the banks [Published The Coffee House | Politics and News Discussion ... - 51 mins ago]
Lloyds Banking Group fined £218 million for "re... [Published Which4U.co.uk - 1 hour ago]
Lloyds to pay £218m to settle LIBOR and BBA rep... [Published Banking Business Review - 2 hours ago]
Bank of England to impose tough new bonus clawb... [Published London South East - 2 hours ago]
Axa IM appoints senior economist [Published Fund Strategy - 2 hours ago]
Lloyds scolds guilty employees after £105m FCA... [Published Loan Talk - 2 hours ago]
Report - Trader on interest-rate manipulation: ... [Published Here is the city - Business News - 3 hours ago]
New clients boost St. James's Place as it posts... [Published This Is Money - 3 hours ago]
Is Tullett Prebon Plc A Better Buy Than Lloyds ... [Published Interactive Investor - 4 hours ago]
European stocks push higher in subdued trade; D... [Published Nasdaq - 4 hours ago]
Tyrie brands LBG's behaviour 'appalling' [Published Financial Reporter - 4 hours ago]
CFTC Charges Lloyds Banking Group and Lloyds Ba... [Published Street Sweeper - 4 hours ago]
Why Was Lloyds Banking Group Fined £218 Million? [Published Fresh Business Thinking - 4 hours ago]
Lloyds bank fined 370 million over Libor rigging [Published MENAFN - 5 hours ago]
Bank of England considers further action agains... [Published Mail Online UK - 5 hours ago]
Grand Central: Tame Inflation Expectations a Tr... [Published WSJ.com: Real Time Economics - 5 hours ago]
Frontrunning: July 29 [Published Zero Hedge - 5 hours ago]
Muntons to invest £5.4m in anaerobic digestion ... [Published Foodbev - 5 hours ago]
Europe Bank ETFs On The Up Despite Scandals [Published ETF.com - 5 hours ago]
FAMILY SCALE BEN NEVIS FOR CHARITY [Published Mail Online UK - 5 hours ago]
Mark Carney: Lloyds’ behaviour ‘clearly unlawful’ [Published Blue & Green Tomorrow - 6 hours ago]
UK Bankers Face World's Longest Bonus Clawbacks [Published Sky News - 6 hours ago]
Bankers Urged To Swear An Oath Not To Rip Off T... [Published Huffington Post UK - 6 hours ago]
Lloyds suspends seven people after £226m bill f... [Published Here is the city - Business News - 6 hours ago]
CFTC charges Lloyds over LIBOR manipulation [Published Hedge Week - 6 hours ago]
U.K. Markets Agency’s Tougher Stand Sends Settl... [Published Bloomberg - 6 hours ago]
Inntel appoints ex-RBS Head of Events to manage M [Published Conference-News.co.uk - 7 hours ago]
Lloyds reports on Northern Ireland giving [Published UK Fundraising - 7 hours ago]
Lloyds suspends seven employees after £217m fine [Published Citywire - 7 hours ago]
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Blogs

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Report - Trader on interest-rate manipulation: ... [Published Here is the city - Business News - 3 hours ago]
For traders at Lloyds Banking Group, 'every little helps' when rigging benchmark interest rates, according to transcripts of conversations released by regulators as part of the bank’s settlement. ...
Grand Central: Tame Inflation Expectations a Tr... [Published WSJ.com: Real Time Economics - 5 hours ago]
The Wall Street Journal’s Daily Report on Global Central Banks for Tuesday, July 29, 2014: Sign up for the newsletter . Highlights Hilsenrath’s Take: Tame Inflation Expectations a Trump Card for Fed’s Doves New Bank of England Deputy Is a Potential ...
Frontrunning: July 29 [Published Zero Hedge - 5 hours ago]
EU finalises Russian sanctions as BP warns of impact on business ( FT ) Geopolitical Risk Rises for Global Investors ( BBG ) Jaded Argentines brace for looming debt default ( Reuters ) In Argentina, Mix of Money and Politics Stirs Intrigue Around Kirchner ...
Lloyds suspends seven people after £226m bill f... [Published Here is the city - Business News - 6 hours ago]
Lloyds Banking Group has suspended seven employees after it was hit with a £226m bill from regulators on both sides of the Atlantic for rigging crucial interest rates. ...
Where Does Manipulating Libor, Screwing Over Cu... [Published Dealbreaker - 21 hours ago]
Let’s ask a Lloyds Banking Group employee. Britain’s largest mortgage lender today agreed to pay 226 million pounds ($383 million) in fines to U.S. and U.K. authorities for manipulating benchmark interest rates. Lloyds employees sought to manipulate ...
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Audio/Video

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Has Lloyds got the TSB price right? [Published Reuters Video: Business - Jun 09 2014]
Lloyds profit raises dividend hopes [Published Reuters Video: Business - May 01 2014]
UK Lloyds exit looms large and proud [Published Reuters Video: Business - Mar 26 2014]
More mis-selling misery for Lloyds [Published Reuters Video: Business - Feb 03 2014]
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Press Releases

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CFTC Charges Lloyds Banking Group and Lloyds Ba... [Published CFTC Enforcement Press Releases - Jul 28 2014]
Lloyds Banking Group fined £105m for seri... [Published Financial Conduct Authority (FCA) - Jul 28 2014]
Diversified Banks Equities under Review -- Rese... [Published Financial Services - Jul 15 2014]
Banking Stocks under Review -- Research on Barc... [Published Financial Services - Mar 25 2014]
The Zacks Analyst Blog Highlights: IBM, Royal B... [Published Financial Services - Feb 25 2014]
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