Company: LLOBF
Filing Date: 2025-07-24
Form Type: 6-K
Source: 0001160106-25-000034
Chunk: 59

Company: Lloyds Banking Group plc
Filing Date: 2025-07-24
Form: 6-K
Chunk 59
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,920 |     |  40,264 |     |                              4,608 |     |            40,019 |     |  44,627 |
| Covered bonds                  |                                  – |     |             9,676 |     |   9,676 |     |                                  – |     |            11,764 |     |  11,764 |
| Certificates of deposit issued |                                  – |     |             5,544 |     |   5,544 |     |                                  – |     |             5,776 |     |   5,776 |
| Securitisation notes           |                                 18 |     |             5,745 |     |   5,763 |     |                                 22 |     |             5,185 |     |   5,207 |
| Commercial paper               |                                  – |     |            11,416 |     |  11,416 |     |                                  – |     |             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 £ 24,510million ( 31 December 2024 : £ 26,202million ) 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 £ 28,186million 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