October 28, 2009

Lord Myners, the City minister, has not been shy in recent weeks railing against the fees typically levied by the investment banking industry. He has even gone as far as to suggest that some form of competition inquiry into the industry could be required in future.

So it’s pretty significant that, as I’ve just learned, the investment banks which will arrange a potentially mammoth capital-raising by Lloyds Banking Group are likely to slash their asking price for helping the company to raise enough capital to keep it outside the Asset Protection Scheme (APS).