As previously noted, Lloyds Banking Group plc (LON:LLOY) continues to consider the impact and implications of the recently published FCA consultation paper on motor finance. Uncertainties remain outstanding on the interpretation and implementation of the proposals but based on our initial analysis and the characteristics of the proposed scheme, an additional provision is likely to be required which may be material. This remains subject to ongoing analysis and review of the proposals.
Lloyds Banking Group will continue to update the market as and when appropriate.
