Not sure if this thread will catch on, because no-one here seems to have much to say about individual british banks, but thought i would add this header to see if we could discuss dividend yields, exposure to sup-prime, good ones, bad ones, take-over targets, when the crisis will end? do you think they have learnt their lesson? I, for one, as a property developer have seen first hand how much stricter they have become with lending habits, struggling to get decent rates for re-mortgaging, basically they appear scared to lend to anyone.

I should add that shareholders who have not yet received their rights issue documents will be selling some of their existing holding to pay for the new shares, rather than wait to receive/deal the rights document. I imagine that the sp will settle and rise a little over the next few days, but then again........ Sand Chen might just be right!

kimoldfield. My Nil Paid RBS rights haven't been credited to my account yet.
Am I right in thinking what you are saying is that they are trading today at around 68p?

Dealer, yes they are trading today, trade low has been 64.5p,high 78.25p, present is 73.5/73.75.
I have a certficated holding and another in a nominee name, my nominee account has been credited with the rights and my postman has this minute delivered my certificated rights! Trade epic for the rights is RBSN

Sorry, that should read RBSN
I have corrected it now.

many thanks.

anyone know what the average SP for LLOY was when they went ex-divi, so I can work out if they gave me enough shares and whether they are in profit or not. I assume you only get whole shares and what happens to the loose change. does it go to charity or get passed onto you at a later date?
Alex

Alex, the sp should be stated on the Share Purchase Advice which you get with your new certificate. The fraction left over is held to be put towards your next div. Historic prices for LLOY can be obtained at
The dates you would need for the last DRIP are 5 March to 12 March inclusive.

Link didn't work! I'll try it this way instead.

http://www.investorrelations.lloydstsb.com/ir/hist_share_price_download_page.asp

Kim
I got my shares electronically so it didn't show up, I may have a letter at home with this info on but not there until tomorrow night.
thanks for the link though
Alex
:)

I hold my shares in a nominee account and only got money How many shares were we meant to get. Hope this is not a silly question.

Maggie , you can opt to have the dividend paid in cash or shares but you don't get both.

Maggie, unless you had already instructed whoever is holding your shares as nominee that you wished to sell the rights to your new shares, I would have thought that you should have a holding of nil paid rights. You were entitled to 11 new shares for every 18 that you held, for which you would pay 2 for each new share if you wanted to keep them.

If you hold in certificate form then the letter should have arrived yesterday (15th). I hold some in nominee account online and although my broker assured me they were about to put them into my account, they still have not arrived.

Interesting (to me) news from the big banks today.
They have been in meetings with FSA, CML, AMI and others regarding dual pricing of lending products, with different products offered at different criteria through different channels.
The view of most in the industry (including the Council of Mortgage Lenders) is that this flies in the face of the principles of Treating Customers Fairly, as laid down by the FSA. Typically, the FSA are well and truly on the fence on this one, totally undecided as to whether it is fair or not!!
The interesting bit is the lenders defence. They say the aim of dual pricing is to protect their employees interests. The translation of this is that they feel they will need to lay off staff unless they can ringfence their own specific products as being available through certain branches only. This is either a worrying or positive devlopment, depending how it plays out. You could take it as being a sign of margin pressures due to lowering volumes, or it may force the lenders to be more competitive in their structures.
The FSA are concerned that people may go straight to lender in order to save 0.1% and end up with lower quality advice and expensive tied insurance product as a result. It strikes me as the one area the FSA could really make a difference to the current conditions and truly protect clients from being ripped off and yet they feel unable to act. Shameful.

Funny thing is, a less reputable source tells me that Barclays are offering their telephone mortgage staff unlimited overtime to cope with demand!!
Lord knows what the hell is happening.
On the one hand lenders are telling me they are snowed under, but they are telling the FSA they need to attract business.
Odd.

I think they're trying to improve their profit margins to be able to afford the penal interest they are paying to the Bank of England.

Many thanks, all of you for your help Have been dying all weekend so only read today. Will ring my broker and sort it out.

Worth looking at the link below, which is an interview with Diana Choyleva from Lombard Street. Interesting angle on the libor rate and the large clearing banks, I hadn't thought about the reason for high libor, but I agree with her it makes sense for the large clearing banks to take advantage.

See what others think.

www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html?_i_referralObject=734371838&fromSearch=n

Funny how the press can skew the news to create panic and sell papers.
The Guardian reports shock horror that C&G has pulled its entire mortgage range, and that this is the harbinger of doom and the first horseman of the apocalypse to ride out among the leafy streets of suburbia.
The truth is, this happens almost every week (recently almost every day) from one lender or another. It is always down to a rate change or the lender concerned getting its predictions of future rates wrong. C&G were among the cheapest recently and their withdrawal is no suprise in the industry. Bringing the range back at 0.25% more is no more than aligning itself with other lenders.
The Guardian report it as though it is an unusual and one off event, sparked by crisis and panic. They will not be happy until they have caused the housing and money markets to fall off a precipice with their inaccurate doom mongering.
If you want to blame anyone for UK financial problems, look no further than a self interested media looking to sell their tatty rags.

Agree with you Alan. Form somebody who once did a media course, I hate them. Problems don't start with them but they don't half turn the knife for their benefit only. These days only one thing matters to the media, ratings and sales.