On 12 February 2009, Eric Daniels, the CEO of the Group, was questioned about the banking crisis during a session of the Treasury Select Committee of the House of Commons.
On 12 February 2009, Eric Daniels, the CEO of the Group, was questioned about the banking crisis during a session of the Treasury Select Committee of the House of Commons.Tags: Cheap Essay 3 DaysStages Of Problem Solving ProcessBusiness Plan For Solar Energy CompanyResearch Paper Topics NursingLanguage Gender And Culture EssayExample Of Hypothesis In Research PaperEssay About Air And Water PollutionBenjamin Franklin Biographical EssaySteps To A Research PaperProwler Essay Scholarship
Because the wholesale funding markets were effectively closed at the time, in March 2009 Lloyds made a deal with the UK government consisting of two elements: Lloyds impairments peaked in the first half of 2009; by mid-2009 the Asset Protection Scheme increasingly looked like a poor deal for Lloyds.
Following negotiations, the government confirmed on 3 November 2009 that Lloyds would not enter the scheme—although RBS still would.
TSB itself was created in 1985 by an Act of Parliament that merged all the remaining savings banks in England & Wales as TSB Bank plc and in Scotland (except Airdrie Savings Bank) as TSB Scotland plc.
This made the group the second-largest UK provider of life assurance and pensions after Prudential.
In September the same year, Lloyds TSB purchased Chartered Trust from Standard Chartered Bank for £627 million to form Lloyds TSB Asset Finance Division, which provides motor, retail and personal finance in the United Kingdom under the trading name Black Horse.
In October 2003, Lloyds TSB Group agreed on the sale of its subsidiary NBNZ Holdings Limited—comprising the Group's New Zealand banking and insurance operations—to Australia and New Zealand Banking Group.
The Group's headquarters is located at 25 Gresham Street in the City of London and its registered office is on The Mound in Edinburgh.
Lloyds Banking Group's activities are organised into: Retail Banking (including Mortgages and Sole Traders); Commercial; Life, Pensions & Insurance; and Wealth & International.
Lloyds Bank was one of the oldest banks in the UK, tracing its establishment to Taylors and Lloyds founded in 1765 in Birmingham by button maker John Taylor and iron producer and dealer Sampson Lloyd II.
Bank of Scotland, which originated in the 17th century, is the second-oldest surviving UK bank after the Bank of England.