Lloyds Banking Group, which has absorbed HBOS, is on Friday expected to reveal when it reports full-year results that the UK government is insuring up to £250bn of the bank’s assets. Barclays is also understood to have sounded out the government about participating in the asset protection scheme. The bank submitted three loan portfolios with a total value of less than £10bn to the Treasury for an assessment three weeks ago, but has not received a response. However Alistair Darling, the chancellor, hinted to MP that he expected Barclays to join the scheme.

This entry was posted by Gwen Robinson on Friday, February 27th, 2009 at 5:00 and is filed under Capital markets. Tagged with Lloyds Banking Group. Edit this entry.