Lloyds Banking Share Discussion Threads

[ladeside] 01/4/2020 19:59

The next fortnight should be interesting in terms of deaths both here and in the USA.

I'm pretty sure that panic will soon set in and we could be looking at the 22p - 24p range as there really is no good news on the horizon.

There's also lots of reports of smaller businesses now going to the wall despite the Government promises and the economy is going to be totally shot by the time we get out of this (if).

It's really not looking good at all, on more than one front........

[stonedyou] 01/4/2020 19:57

31 March 2020




Dear Alison,

Thank you for our discussions of recent days in response to the exceptional circumstances caused by Covid-19. The PRA welcomes the consideration given by you and your firm to suspending dividends and buybacks on ordinary shares until the end of 2020. Should your board take such a decision the PRA would publicly welcome it.

I am also writing to ask you to cancel payments of any outstanding 2019 dividends.

The PRA also expects banks not to pay any cash bonuses to senior staff, including all material risk takers, and is confident that bank boards are already considering and will take any appropriate further actions with regard to the accrual, payment and vesting of variable remuneration over coming months.

Please confirm to the PRA by 20:00 today whether or not your group is prepared to agree to this request. The PRA stands ready to consider use of our supervisory powers should your group not agree to take such action.

We would expect you to make a statement by 21:00 and the PRA would issue its own statement at that time. A draft text of a PRA statement and possible form of words for your statement, depending on your decisions on these matters, is included below (see Annex). The PRA intends to publish its letters to firms alongside any statement it issues.

Yours sincerely



Sam Woods
Deputy Governor and CEO, Prudential Regulation Authority

[stonedyou] 01/4/2020 19:57

Annex

Draft firm statement

In order to help us to serve the needs of businesses and households through the extraordinary challenges presented by Covid-19, the board has decided that until the end of 2020 we will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares. In addition, in response to a request from the PRA and to preserve additional capital for use in serving our clients, the board has agreed to cancel payment of any outstanding 2019 dividend. Our board will decide on any dividend policy and amounts at year-end 2020.

Draft PRA Statement

The PRA welcomes the decisions by the boards of the large UK banks to suspend dividends and buybacks on ordinary shares until the end of 2020, and to cancel payments of any outstanding 2019 dividends in response to a request from us. The PRA also expects banks not to pay any cash bonuses to senior staff, including all material risk takers, and is confident that bank boards are already considering and will take any appropriate further actions with regard to the accrual, payment and vesting of variable remuneration over coming months.

In the assessment of the Financial Policy Committee and the Prudential Regulation Committee, the banks enter this period with strong capital positions, more than sufficient to accommodate the combined simultaneous impact of severe UK and global recessions and a financial markets shock – as demonstrated through their performance in our recent stress tests. Although the decisions taken today will result in shareholders not receiving dividends, they are a sensible precautionary step given the unique role that banks need to play in supporting the wider economy through a period of economic disruption, alongside the extraordinary measures being taken by the authorities. We do not expect the capital preserved to be needed by the banks in order to maintain adequate capital positions, but the extra headroom should help the banks support the economy through 2020.

[k38] 01/4/2020 19:57

U.These two are always right... is no point to argue because they can't explain to why (of as second class citizens) we are... better of if we stay.

[utrickytrees] 01/4/2020 19:36

Alphorn & M2 for some peculiar reason think that Britain within Europe is a more likely prospect AFTER china flu. Are you fukin mad?

[jl5006] 01/4/2020 19:28

xxxxxy
ur JR posts 712
sensible man and comments.
Ppl ignore or dont understand
this BB BB is so full of
Alph
The media is fking all of sensible thought - not surprising is has lost so many paper sales
i have filtered some - schoolkids taking the proverbial.But this BB is full of total BS. On topic is a less violent animal!

[alphorn] 01/4/2020 19:22

max - you can do better than that surely.

[maxk] 01/4/2020 19:19

And you €U lovers think freedom equals taking orders from an unelected Brussels cabal.

[alphorn] 01/4/2020 19:15

Yes stoned - you are a king of cranks.

[alphorn] 01/4/2020 19:10

What is amusing is that the cranks on here (you know who you are) wish for WTO arrangements. At the same time they have become anti-globalist.

The irony of it, although probably over their heads.

[stonedyou] 01/4/2020 19:02

Benson and Hedges cigarette giant British American Tobacco claims it has developed a coronavirus vaccine made from tobacco plants and can manufacture 3million a week starting in June


British American Tobacco (BAT) said it can make up to 3million vaccines a week

•Claims it can have vaccines ready to go by June with help from UK Government

•BAT has found coronavirus antigen and is 'growing vaccine in tobacco plants'

•Coronavirus symptoms: what are they and should you see a doctor?



The maker of Benson & Hedges and Lucky Strike cigarettes claims it has developed a coronavirus vaccine made from tobacco plants.

British American Tobacco (BAT) said it can manufacture up to three million doses a week starting in June if it gets support from the UK Government.

The unproven vaccine is currently being tested on animals. But BAT is calling on Whitehall to fast-track the vaccine through rigorous human trials which could otherwise take the best part of a year and make the June date impossible.

[joe king1] 01/4/2020 18:56

another 4p off then a buy.

[y1phr1] 01/4/2020 18:47

Time to buy

[jonnib77] 01/4/2020 18:45

Walk through a council estate or a poor community and you will see 5 - 20 year old cars on the drive. Walk through any reasonable estate and you will see drive after drive of new cars. nearly all will be rented and I for one will have zero sympathy for any of these people. Its the middle income earners who over spend the most. I work in an indusrtry that can see this. Its pathetic to see people who earn enough money to have an OK lifestyle and not go without, simply want more that they cannot afford... you will be surprised how many households have two rented cars because wife/hubby can't be outdone. I hope this virus resets young peoples minds that debt is not a good thing and start saving instead of whining about how they can't afford a house yet still have holidays, cars and all the latest gear, not to mention going out every night or ordering takeaways

[jonnib77] 01/4/2020 18:45

Walk through a council estate or a poor community and you will see 5 - 20 year old cars on the drive. Walk through any reasonable estate and you will see drive after drive of new cars. nearly all will be rented and I for one will have zero sympathy for any of these people. Its the middle income earners who over spend the most. I work in an indusrtry that can see this. Its pathetic to see people who earn enough money to have an OK lifestyle and not go without, simply want more that they cannot afford... you will be surprised how many households have two rented cars because wife/hubby can't be outdone. I hope this virus resets young peoples minds that debt is not a good thing and start saving instead of whining about how they can't afford a house yet still have holidays, cars and all the latest gear, not to mention going out every night or ordering takeaways

[blueball] 01/4/2020 18:41

stay short.

[joe king1] 01/4/2020 18:39

True, most folk carry huge debt.

I was brought up by being told - don't buy what you cannot afford.

So, what i own, i worked and saved for. No dept, although we had a mortgage, which i paid off in February 2020, 15 years early.

Wheeling and dealing, making a pound or 2.

[alphorn] 01/4/2020 18:38

Ian, beat me to it. A clue in Limited Company. Lols

[jl5006] 01/4/2020 18:33

Nothing to do with banks. just personal greed without consideration for the future repayments. It was allowed and ppl think that they can be bailed out
default on mortgage - / bankruptcy? rental declined.
Drive ur flash ca on FL - default - same action - cant rent.
Always got to be new - new buggy for each child -
Credit record ruined.
Dont expect a bailout for things u could never realistically afford.
reallity dawns

[m5] 01/4/2020 18:32

Exactly Dwinn78.

[xxxxxy] 01/4/2020 18:31

Printing money. Zimbabwe.Boris. Get a grip.

[dwinn78] 01/4/2020 18:29

Stress tests didn't have this scenario in mind . Impossible to put a valuation on any bank just now . Good luck if your holding .