Lloyds Banking Group PLC declined 2.2% yesterday, following speculation that it will have to pay a fee of up to £2B (US$ 3.2B) to exit the UK Government’s trouble asset insurance program.
After announcing its intention about six months ago to have £260B in risky assets insured, Lloyds Banking Group hopes to withdraw from the planned scheme which would result in the state’s interest in the Bank rising to 62%. Lloyds Banking Group fell US$0.13 to close at US$5.77 yesterday, after declining as much as US$5.72 earlier for its lowest intraday price since August 4, 2009.
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