Lloyds Banking Group Plc (LYG,LLOY.L) noted the announcement from the FSA with regard to the disposal of interest rate protection products to small and medium sized businesses.
Lloyds stated that it has assisted the FSA fully in relation to its review and has agreed to work with an independent third party to carry out a thorough assessment of sales of these products to certain customers.
According to the company, interest rate derivative products are not products it has sold widely. Given the limited exposure of Lloyds to these products, the financial impact of this remediation and the associated costs are not expected to be material to the company.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.