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Lloyds Banking Group yet to agree asset protection terms

Lloyds Banking Group continues to be locked in talks with the Treasury over the bank’s participation in the government Asset Protection Scheme.

A spokesman for the group says discussions with the Treasury “are advanced and going well” but adds there is still a “great deal of detail to be hammered out.”

Investors are keenly anticipating news of the agreed terms, following last week’s annoucement from Royal Bank of Scotland that it plans to place £325bn assets in the scheme.

It had been expected that Lloyds Banking Group would announce the terms of its participation in the scheme when it released its full-year results on Friday.

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