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Lloyds likely to boost loans as part of UK asset plan.

Global Banking News-24 February 2009-Lloyds likely to boost loans as part of UK asset plan(C)2009 ENPublishing -

Global Banking News - 24 February 2009(c)2005 - Electronic News Publishing -

Lloyds TSB Group (LSE: LLOY) (NYSE: LYG) has said that it may lend more to home buyers and small businesses as part of an asset protection scheme that the UK government is set to unveil with banks this week.

The move follows a report by the Financial Times that the government was likely to drop a GBP480m (USD699m) annual interest charge that Lloyds pays on a taxpayer loan in exchange for the lending pledge.

As part of the government's asset protection scheme due to be unveiled this week, Lloyds, Royal Bank of Scotland (LSE: RBS) (NYSE: RBS), and potentially other banks, are likely to put up to GBP500bn pounds of assets into the scheme.

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Publication:Global Banking News (GBN)
Date:Feb 24, 2009
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