Lloyds Banking Group, the part-nationalised banking group, confirmed today that it has gone into talks with the Treasury about changing the terms of its participation in the Government's insurance scheme for toxic assets.
Lloyds signed up to the scheme in March, giving it the option of ringfencing up to £260 billion of toxic assets - mostly related to its acquisition of HBOS, the stricken mortgage lender, the Times writes.
Since then, Lloyds, which is 43 per cent owned by the Government, has been looking at ways to bypass the scheme, chiefly by raising funds through a rights issue or by selling off businesses. Full story...
US credit rating agencies will face tighter supervision under new rules adopted by the US financial watchdog, according to the BBC.
The Securities and Exchange Commission (SEC) said agencies must disclose more information on past ratings to help investors make informed judgements.
The agencies, which give firms ratings to determine how safe an investment they may be, have been criticised for their role in the financial crisis. Full story...
JAPAN is becoming increasingly optimistic about the economic outlook.
The Bank of Japan (BOJ) has given an upbeat assessment of the Japanese economy and hinted it may soon withdraw some emergency support measures.
Along with other central banks around the world, the BOJ has been pumping money into the economy to help stimulate demand.
The bank said that keeping these measures in place too long could hinder an "autonomous recovery." Full story...
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