Company: LLOBF
Filing Date: 2025-07-24
Form Type: 6-K
Source: 0001654954-25-008460
Chunk: 70

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 70
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416 |     |                   - |     |          8,090 |     |  8,090 |
|                                |           4,362 |     |    68,301 |     | 72,663 |     |               4,630 |     |         70,834 |     | 75,464 |

Covered bonds and securitisation programmes

At 30 June 2025, the covered bonds held by external parties and those held internally, were secured on certain loans and advances to customers amounting to £24,510 million (31 December 2024: £26,202 million) which have been assigned to bankruptcy remote limited liability partnerships to provide security for issues of covered bonds by the Group. The Group retains all of the risks and rewards associated with these loans and the partnerships are consolidated fully with the loans retained on the Group's balance sheet.

The Group's securitisation vehicles issue notes that are held both externally and internally, and are secured on loans and advances to customers amounting to £28,186 million at 30 June 2025 (31 December 2024: £27,657 million), the majority of which have been sold by subsidiary companies to bankruptcy remote structured entities. As the structured entities are funded by the issue of debt on terms whereby the majority of the risks and rewards of the portfolio are retained by the subsidiary, the structured entities are consolidated fully and all of these loans are retained on the Group's balance sheet.

Cash deposits of £3,070 million (31 December 2024: £3,256 million) which support the debt securities issued by the structured entities, the term advances related to covered bonds and other legal obligations, are held by the Group.

#### Note 14: Provisions
| Provisions                     
 for financial                  
 commitments                    
 and guarantees£m1              |     |     | Regulatory 
  and legal 
 provisions 
         £m |     | Other 
    £m |     | Total 
    £m |
| At 1 January 2025              | 270 |     |      1,600 |     |   443 |     | 2,313 |
| Exchange and other adjustments |   1 |     |          2 |     |    -2 |     |     1 |
| Provisions applied             |   - |     |       -182 |     |  -278 |     |  -460 |
| (Credit) charge for the period | -49 |     |