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Lloyds Banking Group (NYSE:LYG): Closing price $3.42
Lloyds and The Royal Bank of Scotland Group (NYSE:RBS) have been warned by regulators in the United Kingdom that March is the final deadline to contend with an impending financial ‘black hole’ that was caused by the undervaluing of bad debts. This latest warning came at the same time that the government had overpaid while rescuing the banks in 2008. As a result, Britain’s banks may now have to come up with large amounts of capital in a short period, to ensure that they remain solvent, according to officials at the Bank of England, who did confirm that the shortfall was substantial.
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