MARKET TALK: UK Bank Levy Better Than Feared - Oriel

22nd Jun 2010 16:15

1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities analyst Mike Trippitt. Oriel sees Barclays (BCS) having a relatively large exposure because of its big balance sheet, with Standard Chartered (STAN.LN) and HSBC Holdings (HBC) paying less because of their high retail deposits. Lloyds Banking Group (LYG) and Royal Bank of Scotland (RBS) will also be less hit as time progresses because of their ongoing reduction in wholesale funding. Barclays -2.1%, RBS +0.5%, HSBC -0.1%, Lloyds +3.3%, and Standard Chartered -0.7%. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 11:15 ET (15:15 GMT)