U.K. Banks Sell Assets to Plug Capital Hole Before Report

Posted by Forexsq 590 days ago (http://www.bloomberg.com)
img U.K. lenders including Royal Bank of Scotland Group Plc (RBS) and Lloyds Banking Group Plc (LLOY) are selling assets and detailing plans to bolster their balance sheets to deflect calls from regulators to plug a capital shortfall.

Lloyds this week sold a stake in asset manager St. James’s Place Plc (STJ), booking a 400 million-pound ($597 million) gain, while RBS said last month it will sell its U.S. operation and shrink its securities unit to bolster capital. Barclays Plc (BARC) plans to sell contingent convertible notes to boost its financial strength, a person with knowledge of the matter said last month.

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