TIDMLLOY
RNS Number : 4506O
Lloyds Banking Group PLC
10 June 2022
10 June 2022
RESOLVABILITY ASSESSMENT FRAMEWORK PUBLIC DISCLOSURE
As part of the commitment by the Bank of England to protect
financial stability and ensure that all major UK banks and
buildings societies ('Firms') are resolvable, the Group is today
publishing a summary of its preparations for resolution. This is an
ongoing, market wide exercise, conducted in accordance with
Supervisory Statement SS4/19 'Resolution assessment and public
disclosure by firms', published on 28 May 2021.
The Resolvability Assessment Framework ('RAF') Public Disclosure
for Lloyds Banking Group Plc is available through the 'Investors'
section of the Group's website www.lloydsbankinggroup.com
The Bank of England's Public Statement is available at
https://www.bankofengland.co.uk/financial-stability/Resolution/resolvability-assessment-framework/resolvability-assessment-of-major-uk-banks-2022
- END -
For further information:
Investor Relations
Douglas Radcliffe +44 (0) 20 7356 1571
Group Investor Relations Director
douglas.radcliffe@lloydsbanking.com
Corporate Affairs
Matt Smith +44 (0) 20 7356 3522
Head of Media Relations
matt.smith@lloydsbanking.com
Group Corporate Treasury
Liz Padley +44 (0)7385 032858
Non Bank Entities Treasurer and Head of Capital and Recovery and
Resolution
claire-elizabeth.padley@lloydsbanking.com
FORWARD LOOKING STATEMENTS
This document contains certain forward-looking statements within
the meaning of Section 21E of the US Securities Exchange Act of
1934, as amended, and section 27A of the US Securities Act of 1933,
as amended, with respect to Lloyds Banking Group plc together with
its subsidiaries (the Group) and its current goals and
expectations. Statements that are not historical or current facts,
including statements about the Group's or its directors' and/or
management's beliefs and expectations, are forward looking
statements. Words such as, without limitation, 'believes',
'achieves', 'anticipates', 'estimates', 'expects', 'targets',
'should', 'intends', 'aims', 'projects', 'plans', 'potential',
'will', 'would', 'could', 'considered', 'likely', 'may', 'seek',
'estimate', 'probability', 'goal', 'objective', 'deliver',
'endeavour', 'prospects', 'optimistic' and similar expressions or
variations on these expressions are intended to identify forward
looking statements. These statements concern or may affect future
matters, including but not limited to: projections or expectations
of the Group's future financial position, including profit
attributable to shareholders, provisions, economic profit,
dividends, capital structure, portfolios, net interest margin,
capital ratios, liquidity, risk-weighted assets (RWAs),
expenditures or any other financial items or ratios; litigation,
regulatory and governmental investigations; the Group's future
financial performance; the level and extent of future impairments
and write-downs; the Group's ESG targets and/or commitments;
statements of plans, objectives or goals of the Group or its
management and other statements that are not historical fact;
expectations about the impact of COVID-19; and statements of
assumptions underlying such statements. By their nature, forward
looking statements involve risk and uncertainty because they relate
to events and depend upon circumstances that will or may occur in
the future. Factors that could cause actual business, strategy,
plans and/or results (including but not limited to the payment of
dividends) to differ materially from forward looking statements
include, but are not limited to: general economic and business
conditions in the UK and internationally; market related risks,
trends and developments; risks concerning borrower and counterparty
credit quality; fluctuations in interest rates, inflation, exchange
rates, stock markets and currencies; volatility in credit markets;
volatility in the price of our securities; any impact of the
transition from IBORs to alternative reference rates; the ability
to access sufficient sources of capital, liquidity and funding when
required; changes to the Group's credit ratings; the ability to
derive cost savings and other benefits including, but without
limitation, as a result of any acquisitions, disposals and other
strategic transactions; inability to capture accurately the
expected value from acquisitions; potential changes in dividend
policy; the ability to achieve strategic objectives; insurance
risks; management and monitoring of conduct risk; exposure to
counterparty risk; credit rating risk; tightening of monetary
policy in jurisdictions in which the Group operates; instability in
the global financial markets, including within the Eurozone, and as
a result of ongoing uncertainty following the exit by the UK from
the European Union (EU) and the effects of the EU-UK Trade and
Cooperation Agreement; political instability including as a result
of any UK general election and any further possible referendum on
Scottish independence; operational risks; conduct risk;
technological changes and risks to the security of IT and
operational infrastructure, systems, data and information resulting
from increased threat of cyber and other attacks; natural pandemic
(including but not limited to the COVID-19 pandemic) and other
disasters; inadequate or failed internal or external processes or
systems; acts of hostility or terrorism and responses to those
acts, or other such events; geopolitical unpredictability; the war
between Russia and Ukraine; risks relating to sustainability and
climate change (and achieving climate change ambitions), including
the Group's ability along with the government and other
stakeholders to measure, manage and mitigate the impacts of climate
change effectively; changes in laws, regulations, practices and
accounting standards or taxation; changes to regulatory capital or
liquidity requirements and similar contingencies; assessment
related to resolution planning requirements; the policies and
actions of governmental or regulatory authorities or courts
together with any resulting impact on the future structure of the
Group; failure to comply with anti-money laundering, counter
terrorist financing, anti-bribery and sanctions regulations;
failure to prevent or detect any illegal or improper activities;
projected employee numbers and key person risk; increased labour
costs; assumptions and estimates that form the basis of our
financial statements; the impact of competitive conditions; and
exposure to legal, regulatory or competition proceedings,
investigations or complaints. A number of these influences and
factors are beyond the Group's control. Please refer to the latest
Annual Report on Form 20-F filed by Lloyds Banking Group plc with
the US Securities and Exchange Commission (the SEC), which is
available on the SEC's website at www.sec.gov , for a discussion of
certain factors and risks. Lloyds Banking Group plc may also make
or disclose written and/or oral forward-looking statements in other
written materials and in oral statements made by the directors,
officers or employees of Lloyds Banking Group plc to third parties,
including financial analysts. Except as required by any applicable
law or regulation, the forward-looking statements contained in this
document are made as of today's date, and the Group expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward looking statements contained in
this document whether as a result of new information, future events
or otherwise. The information, statements and opinions contained in
this document do not constitute a public offer under any applicable
law or an offer to sell any securities or financial instruments or
any advice or recommendation with respect to such securities or
financial instruments.
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MSCQBLBFLQLFBBV
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June 10, 2022 02:25 ET (06:25 GMT)
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