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TSB itself was created in 1985 by an Act of Parliament that merged all the remaining savings banks in England & Wales as TSB Bank plc and in Scotland (except Airdrie Savings Bank) as TSB Scotland plc.This made the group the second-largest UK provider of life assurance and pensions after Prudential.
Following the takeover, the Group stopped using the name HBOS publicly.
The Halifax brand, products and pricing were discontinued in Scotland until it was re-established in 2013.
The group's divestment plan—codenamed "Verde"—identified 632 branches which would be transferred to a new business.
Customers with accounts held by the branches, and staff employed within them, would be transferred.
The FSA stated that the assumptions underlying the stress test were not intended to be a forecast of what was likely to happen, but to simulate a near catastrophic economic scenario.
These assumptions included: The conclusion from this exercise was that Lloyds would need additional capital if such a scenario ever occurred.In 2001, a wave of consolidations in the UK banking market led the former Halifax Building Society—which originated in 1853—to agree to a £10.8 billion merger with Bank of Scotland.Trustee Savings Bank (TSB) can trace its roots back to the first savings bank founded by Henry Duncan in Ruthwell, Dumfriesshire in 1810.Lloyds Bank was one of the oldest banks in the UK, tracing its establishment to Taylors and Lloyds founded in 1765 in Birmingham by button maker John Taylor and iron producer and dealer Sampson Lloyd II.Bank of Scotland, which originated in the 17th century, is the second-oldest surviving UK bank after the Bank of England.Lloyds' has extensive overseas operations in the US, Europe, the Middle East and Asia.Its headquarters for business in the European Union is in Berlin, Germany.Lloyds Banking Group plc is a major British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009.The Group's history stems from the founding in 1695 by the Parliament of Scotland of the Bank of Scotland, which is the second oldest bank in the United Kingdom.Lloyds will receive a 1.8% stake in Sabadell worth about €84 million and an additional sum of up to €20 million over the next five years.The UK Government's purchase of a 43.4% stake in the group in 2009 was considered as state aid; under European Commission competition laws, the group would be required to sell a portion of its business.