CEBS Stress test results
73/10 23 July 2010
COMMITTEE OF EUROPEAN BANKING SUPERVISORS (CEBS) STRESS TEST RESULTS
In parallel with the publication of the stress test results by CEBS, the Group along with the other banks subject to this stress test have been asked to publish our exposures as at 31 March 2010 to national and local governments in accordance with a common set of principles. The principles are set out in Appendix 1 and we set out below our unaudited exposures as at 31 March 2010. In addition, to facilitate understanding of the movements in our exposures, we have also provided information on these exposures as at 30 June 2010.
Exposures to central and local governments
Banking group's exposure on a consolidated basis
|
Lloyds Banking Group |
||||
|
31 March 2010 |
||||
|
|
Gross Exposures |
|
|
Net Exposures |
|
|
(net of impairment) |
of which banking book |
of which trading book |
(net of impairment) |
|
|
£m |
£m |
£m |
£m |
|
Austria |
21 |
3 |
19 |
21 |
|
Belgium |
88 |
84 |
4 |
88 |
|
Bulgaria |
0 |
0 |
0 |
0 |
|
Cyprus |
1 |
0 |
1 |
1 |
|
Czech Republic |
0 |
0 |
0 |
0 |
|
Denmark |
67 |
67 |
0 |
67 |
|
Estonia |
0 |
0 |
0 |
0 |
|
Finland |
0 |
0 |
0 |
0 |
|
France |
659 |
659 |
0 |
659 |
|
Germany |
1,432 |
1,368 |
64 |
1,432 |
|
Greece |
0 |
0 |
0 |
0 |
|
Hungary |
2 |
0 |
2 |
2 |
|
Iceland |
0 |
0 |
0 |
0 |
|
Ireland |
0 |
0 |
0 |
0 |
|
Italy |
94 |
94 |
0 |
94 |
|
Latvia |
0 |
0 |
0 |
0 |
|
Liechtenstein |
0 |
0 |
0 |
0 |
|
Lithuania |
0 |
0 |
0 |
0 |
|
Luxembourg |
412 |
212 |
200 |
412 |
|
Malta |
0 |
0 |
0 |
0 |
|
Netherlands |
185 |
185 |
0 |
185 |
|
Norway |
0 |
0 |
0 |
0 |
|
Poland |
0 |
0 |
0 |
0 |
|
Portugal |
143 |
143 |
0 |
143 |
|
Romania |
24 |
24 |
0 |
24 |
|
Slovakia |
0 |
0 |
0 |
0 |
|
Slovenia |
0 |
0 |
0 |
0 |
|
Spain |
0 |
0 |
0 |
0 |
|
Sweden |
5 |
5 |
0 |
5 |
|
United Kingdom |
5,143 |
5,114 |
29 |
5,143 |
|
|
8,278 |
7,960 |
318 |
8,278 |
|
Lloyds Banking Group |
||||
|
30 June 2010 |
||||
|
|
Gross Exposures |
|
|
Net Exposures |
|
|
(net of impairment) |
of which banking book |
of which trading book |
(net of impairment) |
|
|
£m |
£m |
£m |
£m |
|
Austria |
21 |
3 |
19 |
21 |
|
Belgium |
76 |
76 |
0 |
76 |
|
Bulgaria |
0 |
0 |
0 |
0 |
|
Cyprus |
1 |
0 |
1 |
1 |
|
Czech Republic |
0 |
0 |
0 |
0 |
|
Denmark |
0 |
0 |
0 |
0 |
|
Estonia |
0 |
0 |
0 |
0 |
|
Finland |
0 |
0 |
0 |
0 |
|
France |
671 |
671 |
0 |
671 |
|
Germany |
1,404 |
1,404 |
0 |
1,404 |
|
Greece |
0 |
0 |
0 |
0 |
|
Hungary |
2 |
0 |
2 |
2 |
|
Iceland |
0 |
0 |
0 |
0 |
|
Ireland |
0 |
0 |
0 |
0 |
|
Italy |
0 |
0 |
0 |
0 |
|
Latvia |
0 |
0 |
0 |
0 |
|
Liechtenstein |
0 |
0 |
0 |
0 |
|
Lithuania |
0 |
0 |
0 |
0 |
|
Luxembourg |
0 |
0 |
0 |
0 |
|
Malta |
0 |
0 |
0 |
0 |
|
Netherlands |
170 |
170 |
0 |
170 |
|
Norway |
0 |
0 |
0 |
0 |
|
Poland |
0 |
0 |
0 |
0 |
|
Portugal |
0 |
0 |
0 |
0 |
|
Romania |
24 |
24 |
0 |
24 |
|
Slovakia |
0 |
0 |
0 |
0 |
|
Slovenia |
0 |
0 |
0 |
0 |
|
Spain |
0 |
0 |
0 |
0 |
|
Sweden |
0 |
0 |
0 |
0 |
|
United Kingdom |
5,303 |
5,259 |
44 |
5,303 |
|
|
7,670 |
7,605 |
65 |
7,670 |
- END -
For further information:
Investor Relations
Kate O'Neill +44 (0) 20 7356 3520
Managing Director, Investor Relations
Email: kate.o'neill@ltsb-finance.co.uk
Michael Oliver +44 (0) 20 7356 2167
Director of Investor Relations
Email: michael.oliver@ltsb-finance.co.uk
Media Relations
Brigitte Trafford +44 (0) 20 7356 1008
Group Communications Director
Email: brigitte.trafford@lloydsbanking.com
Sara Evans +44 (0) 20 7356 2075
Media Relations Manager
Email: sara.evans2@lloydstsb.co.uk
FORWARD LOOKING STATEMENTS
This announcement contains forward looking statements with respect to the business, strategy and plans of the Lloyds Banking Group, its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about the Group's or the Group's management's beliefs and expectations, are forward looking statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. The Group's actual future business, strategy, plans and/or results may differ materially from those expressed or implied in these forward looking statements as a result of a variety of risks, uncertainties and other factors, including, without limitation, UK domestic and global economic and business conditions; the ability to derive cost savings and other benefits, as well as the ability to integrate successfully the acquisition of HBOS; the ability to access sufficient funding to meet the Group's liquidity needs; changes to the Group's credit ratings; risks concerning borrower or counterparty credit quality; market related trends and developments; changing demographic trends; changes in customer preferences; changes to regulation, accounting standards or taxation, including changes to regulatory capital or liquidity requirements; the policies and actions of Governmental or regulatory authorities in the UK, the European Union, or jurisdictions outside the UK, including other European countries and the US; the ability to attract and retain senior management and other employees; requirements or limitations imposed on the Group as a result of HM Treasury's investment in the Group; the ability to complete satisfactorily the disposal of certain assets as part of the Group's EU State Aid obligations; the extent of any future impairment charges or write-downs caused by depressed asset valuations; exposure to regulatory scrutiny, legal proceedings or complaints, actions of competitors and other factors. Please refer to the latest Annual Report on form 20-F filed with the US Securities and Exchange Commission for a discussion of such factors together with examples of forward looking statements. The forward looking statements contained in this announcement are made as at the date of this announcement, and the Group undertakes no obligation to update any of its forward looking statements.
Appendix 1
In compiling the data for this exercise, we have followed the CEBS instructions for completion, which we reproduce below:
Guidance for completion
The 'Reporting Date' is the date about which the exposures are being reported. This should be 31 March 2010.
Amounts should be reported in million reporting currency.
It is advised that supervisors make sure that the information disclosed by the banks is in line with the information used for stressing the exposures.
For each reporting bank, the exposures should be provided only on the highest level of consolidation applied to this banking group.
Exposures should be reported on an immediate borrower basis (eg an exposure of 100 towards Country A, collateralised with bonds issued by Country B, is reported on Country A but not on Country B).
The exposures to central and local governments include loans and receivables and securities.
'Gross Exposures' are provided on the basis of their accounting value, net of impairment but gross of Collateral and Hedging.
In practice:
- Trading, Fair value Options and AFS assets (whether securities or loans) should be reported at their fair value
- Loans and receivables and Held to Maturity assets should be reported at their amortised cost (net of impairment losses)
- Derivatives (including CDS) should be reported at their fair value (if positive)
'Net Exposures' are the 'Gross Exposures' net of credit risk mitigants, as defined in the CRD. They can also include short selling positions in futures.
This information is provided by RNS
Latest directors dealings
- 2 hours ago Galantas Gold Corp.
- 3 hours ago Legal & General Group
- 3 hours ago Inchcape
- 4 hours ago Elementis
- 4 hours ago Taylor Maritime Investments Limited NPV