HBOS plc http://www.alacrastore.com/company-snapshot/HBOS_plc-2504517 Saturday, July 26, 2008 7:33:30 AM 2504517 HBOS plc en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/71905cs/71905norm Euro Financial Movers: Playing Follow-My-Leader Bank and insurance stocks in Europe were well up on the week Most banks were caught up in the positive momentum from the US, rather than reporting any very positive news of their own...7/21/2008 12:13:52 AM150Positive momentum from the US pulled many European financials along with it. As earnings season picks up, the Europeans could start setting more of their own agenda. Asset quality data from Spain will be worth watching.719051170YesD0Article7979753666093563593711398212935536565535712241199corp19241937278100186354071905Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71578cs/71578norm Euro Financial Movers: Bad News Is Better Out Than In Those that came through relatively unscathed from a horrible week were the issuers who have already got most of the bad news out there UK and Irish banks, which only report half-yearly,...715781551YesD0Article3748071234328360329356119112243573653551304366975corp244193100787240357/14/2008 12:14:37 AM150Issuers that have already quantified as much as possible of the bad news were the relative outperformers in a pessimistic stockmarket, even if their chief executives are feeling the heat for recent past performance.71578Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71324cs/71324norm HBOS: Down But Not Out The CDS and equity markets value HBOS as if it is the weakest major bank in Europe The extent of the negative sentiment is unjustified, even allowing for credit market impairments and rising credit losses But...713242944YesD0Article356corp4357/7/2008 1:11:36 AM150We provide a rationale for our Outperform recommendation on HBOS by taking a closer look at the quality of its mortgage book71324Credit & Investment ResearchCreditSightsAUSTRALIA - In June ####, HBOS PLC was rumored to be seeking a buyer for its Bank of Western Australia Ltd unit. National Australia Bank and Commonwealth Bank of Australia were named potential bidders.7/1/2008 11:35:43 AM81572I06570C81572I40512NSeeking BuyerBank of Western Australia LtdSeeking BuyerHBOS PLChttp://www.alacrastore.com/storecontent/Thomson_M%26A/Seeking_Buyer_is_rumored_to_be_planning_to_acquire_Bank_of_Western_Australia_Ltd_from_HBOS_PLC-1991621040sdc/19916210401991621040Copyright © 2008, Thomson Financial, All Rights ReservedInvestment & Commodity Firms,Dealers,ExchangesUnknownInvestors, nec6799UNUnknownPrivate6799:Investors, nec6799:Investors, necCommercial Banks, Bank Holding CompaniesAustraliaBanks6000FFForeignSubsidiary12029001Seeking buyerBank (foreign)Not ApplicableAssets5188005Jul 1 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.00000Seeking buyerSeeking buyerSeeking buyer1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.00000Bank of Western Australia Ltd,based in Perth, is a bankactive in all market segments,and its lending is diversifiedbetween the business, rural,housing, and personal markets,including the full range ofdeposit products. The companywas founded in 1895, and itoffers specialist services ininternational banking,equipment finance, and projectfinance.Bank of Western Australia Ltd, based in Perth, is a bankactive in all market segments, and its lending isdiversified between the business, rural, housing, andpersonal markets, including the full range of depositproducts. The company was founded in 1895, and it offersspecialist services in international banking, equipmentfinance, and project finance.Bank of Western Australia Ltd, based in Perth, is a bank active in all market segments, and its lending is diversified between the business, rural, housing, and personal markets, including the full range of deposit products. The company was founded in 1895, and it offers specialist services in international banking, equipment finance, and project finance.0.000000.000000.000000.00000N28 Jun 08Sat, 28 Jun 2008 00:00:00 ESTDate Announced: 06/28/2008Date Effective:Acq. of AssetsNot Appl.0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.00000AUSTRALIA - In June 2008, HBOSPLC was rumored to be seekinga buyer for its Bank ofWestern Australia Ltd unit.National Australia Bank andCommonwealth Bank of Australiawere named potential bidders.AUSTRALIA - In June 2008, HBOS PLC was rumored to be seeking a buyer for its Bank of Western Australia Ltd unit. National Australia Bank and Commonwealth Bank of Australia were named potential bidders.AUSTRALIA - In June 2008, HBOS PLC was rumored to be seeking a buyer for its Bank ofWestern Australia Ltd unit. National Australia Bank and Commonwealth Bank of Australiawere named potential bidders.AUSTRALIA - In June 2008, HBOS PLC was rumored to be seeking a buyer for its Bank of Western Australia Ltd unit. National Australia Bank and Commonwealth Bank of Australia were named potentialbidders.AUSTRALIA - In June 2008, HBOS PLC was rumored to be seeking a buyer for its Bank of Western Australia Ltd unit. National Australia Bankand Commonwealth Bank of Australia were named potential bidders.Rumor0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Rumor-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000006000:Banks12029001Unknown6799UnknownPrivate6000:Banks6719:Offices of holding companies, nec2726004LondonUnited Kingdom6000ForeignPublicHBOS0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/newstex/PRN-0004-26328027newstex/PRN-0004-26328027xml London, Jun. ##, #### (PR Newswire UK Disclose delivered by Newstex) -- TR-#[i]: notification of major interests in shares #. Identity of the issuer or the underlying SVM Global Fund plc issuer of existing shares to which...02000000020070001100000011003000110030070400000004016000040160056/30/2008 6:06:12 AM1800000018016000PR Newswire UK DisclosePRN-0004-26328027HBOS PLCSVM GLOBAL FUND PLCHBOFFSVMOFNewsNewstexhttp://www.alacrastore.com/storecontent/cs/71110cs/71110norm Euro Financial Movers: In A Bear Hug The bears were vindicated by a slew of bad news, including deteriorating economic conditions, monoline downgrades and bank capital issuance Barclays handled its capital raising much better than...711101327YesD0Article3603569758071143132420103613571234166460916771304corp19295241647872403560Financial Movers6/30/2008 12:12:15 AM150A drip feed of negative news on banks kept the markets in pessimistic mood71110Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/CMT_0000441992moodys/CMT_0000441992htmlGlobal Credit Research Issuer Comment ## JUN #### Issuer Comment: HBOS plc Moody's comments on HBOS's trading update In a Trading Update released today HBOS plc provided details on the group's performance to end-May ####. The negative...6/20/2008 12:49:16 AMhtmlHBOS plcHBOS plc600061478150.0000NewsIssuer CommentCMT_0000441992Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/654993spcred/654993normThe latest News from S&Pglobalstructured6/19/2008 3:42:58 PM100News654993United KingdomDiversified BanksEurope, Middle East, AfricaPacificGlobal IssuersStructured FinanceFinancial InstitutionsAsset-Backed SecuritiesCollateralized Debt ObligationsCommercial MBSResidential MBSNewsLONDON (Standard&Poor's) June 19, 2008--Standard&Poor's Ratings Services said today it revised its outlook on U.K. financial services group HBOS PLC to negative from stable. In addition, the 'AA-/A-1+' long- and short-term counterparty credit ratings were affirmed. At the same time, the outlooks on HBOS' subsidiaries Bank of Scotland PLC, Clerical Medical Investment Group Ltd., Bank of Western Australia Ltd., and BOS International (Australia) Ltd. were also revised to negative from stable. The ratings and outlook on 60%-owned subsidiary St. James's Place U.K. PLC (A-/Positive/--) were unaffected. "The outlook revision follows the completion of our review of the ratings on U.K. banks and building societies. HBOS derives 85% of its core earnings from the U.K., where theGBR4041A04041A24041A342205MG5957W40101010 401010 4010 40HBOS PLC354166EUROMIDAFRPACHBOS@LNNEWSGLOBISSSTRUCFIABSCDOCMBSRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/654994spcred/654994normThe latest Research Update from S&Pglobalstructuredpubfin6/19/2008 3:42:58 PM175Research Update654994United KingdomDiversified BanksEurope, Middle East, AfricaPacificGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsInsuranceAsset-Backed SecuritiesCollateralized Debt ObligationsAsset-Backed Commercial PaperCommercial MBSResidential MBSResearch UpdateOn June 19, 2008, Standard&Poor's Ratings Services revised its outlook on U.K. financial services group HBOS PLC to negative from stable. In addition, the 'AA-/A-1+' long- and short-term counterparty credit ratings were affirmed. At the same time, the outlooks on HBOS' subsidiaries Bank of Scotland PLC, Clerical Medical Investment Group Ltd., Bank of Western Australia Ltd., and BOS International (Australia) Ltd. were also revised to negative from stable. The ratings and outlook on 60%-owned subsidiary St. James's Place U.K. PLC (A-/Positive/--) were unaffected. The outlook revision follows the completion of our review of the ratings on U.K. banks and building societies. HBOS derives 85% of its core earnings from the U.K., where the slowing economy is likely toGBR4041A04041A24041A342205MG5957W40101010 401010 4010 40HBOS PLC354166EUROMIDAFRPACHBOS@LNRESUPDAUSGBR06478G06478H06478J06478K06478M06479*06479406479W06479XQ1697V40101010 401010 4010 4040101015 401010 4010 4040201040 402010 4020 4040203010 402030 4020 4040301020 403010 4030 40St. James's Place U.K. PLCBank of Western Australia Ltd.Clerical Medical Investment Group Ltd.Bank of Scotland PLCBOS International (Australia) Ltd.102748320725303720117042309751EMERGINGEUROMIDAFRLATAMERICAPACUSA1183Z@AU1803Z@LNBWA@AUHBOS@LNBSCT@LNGLOBISSSTRUCPUBFINFIINSABSCDOABCPCMBSRMBSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/654989spcred/654989normThe latest News from S&Pglobalstructuredpubfin6/19/2008 1:24:59 PM100News654989United KingdomDiversified BanksEurope, Middle East, AfricaPacificGlobal IssuersStructured FinancePublic FinanceFinancial InstitutionsSovereignsAsset-Backed SecuritiesCollateralized Debt ObligationsAsset-Backed Commercial PaperCommercial MBSResidential MBSHigh TechnologyNewsAt the conclusion of its review on U.K. banks, Standard&Poor's Ratings Services lowered its counterparty credit ratings on Britannia Building Society, and revised its outlooks on HBOS PLC and Yorkshire Building Society to negative (see list below for the banks and building societies reviewed). As a result of this, and other recent rating actions, the ratings on three of the four large U.K. banks reviewed now have a negative outlook, while those on two of the four mortgage lenders reviewed have been downgraded by one notch. In addition, the short-term counterparty credit rating on Bradford&Bingley PLC was lowered to 'A-2' from 'A-1' on June 2, 2008, and remains on CreditWatch negative. The current review has takenGBR4041A04041A24041A342205MG5957W40101010 401010 4010 40HBOS PLC354166EUROMIDAFRPACHBOS@LNNEWSGBR01852A01852B01852C01860K06425Y53943953943E63859L63859M63859U63859V63859W63859X6386026386A078009778010C98719B98719C98719DG0178PG0178SG1400UG14028G63980G9853M40101010 401010 4010 4040102010 401020 4010 4040201020 402010 4020 4040201040 402010 4020 40Alliance&Leicester PLCRoyal Bank of Scotland Group PLC (The)Britannia Building SocietyBarclays PLCNationwide Building SocietyBank of EnglandYorkshire Building SocietyLloyds TSB Group PLC115960112589107814116599115845113609363553426242EMERGINGEUROMIDAFRLATAMERICAUSA133535Z@LNRBS@LN1250Z@LN3710Z@LN6043Z@LNLLOY@LNAL/@LNGLOBISSSTRUCPUBFINFISOVABSCDOABCPCMBSRMBSHighCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/B1880929ccbn/B1880929norm...HBOS.L reported that trading is satisfactory and very much in line with Group's expectations. www.streetevents.comContact Us ... 6/19/2008 1:10:00 PMHBOS plc54.0000EditedHBOS plc Trading Update - Conference Call SummaryHBOS.L9:30am UKTBriefB1880929Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/T1880929ccbn/T1880929norm...Ladies and gentlemen, good morning and welcome to your HBOS plc trading update conference call hosted by Andy Hornby the Group Chief Executive. My name is Liam and I am your coordinator today. Throughout the conference your line will remain on listen-only until the question session begins. (OPERATOR INSTRUCTIONS). I now turn to your host today, Andy, please go ahead.... 6/19/2008 9:11:00 AMHBOS plc54.0000FinalHBOS plc Trading Update - Conference Call TranscriptHBOS.L9:30am UKTTranscriptT1880929Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/cs/70783cs/70783norm The Monoline Monster: European Bank Exposures European banks' exposure to monolines via CDS protection is growing as the value of the underlying assets continues to slide The problem is that these hedges are becoming less effective...707832356YesD0Article359358356329364360807373362975367357corp193787243598Monolines91Subprime6/19/2008 2:11:00 AM150We compare the exposures of European banks to monolines and estimate potential additional losses in 2Q0870783Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/70626cs/70626norm Euro Financial Movers: Moving Closer To Home Fears over US structured credit are being replaced by concerns about the impact on banks of slowing economies in  Europe, in particular from falling property markets Despite unusually high...706261015YesD0Article8073661304178935636032936512863551224357corp193164424781009546403560Financial Movers6/16/2008 12:13:22 AM150It was a volatile week for several European banks as opinions fluctuated regarding economic downturns, property markets and the need for capital raising.70626Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/70347cs/70347norm Euro Financial Movers: Is This a Discount Which I See Before Me? Against a negative backdrop, some of the biggest out- and underperformers in the stock market last week were banks that are in the midst of rights issues We expect continued...70347977YesC0Article36035697512241304corp47210035406/9/2008 12:12:30 AM150RBS and HBOS put in the best and worst stock performances of our universe, as they each progressed with capital-raisings. While the European banking system fumbles its way into Basel 2, this sets the theme until the next round of earnings.70347Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/422480_pr_framefitch/422480_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Barclays Bank plcBarclays plcHBOS plcHSBC Finance Corp.HSBC Holdings plcLloyds TSB Bank plcLloyds TSB Group plcThe Royal Bank of Scotland Group plc80089671803595188035954680359915803599898036231981740065861989056/3/2008 10:54:03 AM01010100010102000101020685Press ReleaseBARCHBOSHSBALLOYRBS422480_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/cs/70020cs/70020norm Basel #: Euro Bank Ratios for #Q## - Clear as Mud We publish an updated European Bank Capital Model spreadsheet, including all available figures for #Q##. Where possible, this is based on Basel # data, although there are still a few...700201489YesD0Article1787120312363591789377192480735638935860962032912251216448370388360364371366362655167712871199128635712768063671224355373975386369corp161931925872495100146154186102243558Bank Capital Models14Regulatory Matters6/2/2008 11:13:00 PM150An update of our Bank Capital Model, to mark the first time that Basel 2 ratios have become available for the majority of the coverage universe. But levels of detail vary enormously, and regulators are still fixing the goalposts.70020Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/69992cs/69992norm Euro Financial Movers: Taking A Rain Check The markets were lacklustre in a week shortened by holidays in the US and the UK, but they continued to fret over poor data from the UK housing market European banks that are planning rights...699921079YesD0Article19393601261114335612253743293647971665366365130416641244328corp47872102193403560Financial Movers6/2/2008 12:13:12 AM150A fairly quiet week, as the market continued to worry about rights issues and the state of the UK housing market69992Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_156344_97400moodys/PR_156344_97400htmlGlobal Credit Research Announcement ## MAY #### Announcement: Yorkshire Building Society Moody's reports: UK banking system faces negative credit outlook as economic downturn poses challenges London, ## May #### -- The fundamental...5/31/2008 1:41:36 AMhtmlYorkshire Building SocietyNorthern Rock plcBarclays Bank PLCAbbey National plcBank of Scotland plcCoventry Building SocietyICICI Bank UK Plc.Scarborough Building SocietyNottingham Building SocietyStandard Bank PlcInvestec Bank (UK) LtdRoyal Bank of Scotland plcHBOS plcStandard Life Bank LimitedNewcastle Building SocietyLeeds Building SocietyNorwich & Peterborough Building SocietyDunfermline Building SocietySkipton Building SocietyCheshire Building SocietyDerbyshire Building SocietyWest Bromwich Building SocietyPrincipality Building SocietyChelsea Building SocietyClose Brothers Ltd.HSBC Holdings plcHSBC Bank plcLloyds TSB Bank PlcCo-Operative Bank PlcNationwide Building SocietyBritannia Building SocietyBradford & Bingley plcAlliance & Leicester plcClydesdale Bank plcVTB Bank Europe plcAbbey National plc; Alliance & Leicester plc; Bank of Scotland plc; ...97400938009250091508776081515080972530280880239180873249980848727380678922565192060006147860004872560004574660004553160004422060004412860004402060004401960004400160002243560002242160002236960001174160000914049468044956528892513219521832066184860112300150.0000NewsAnnouncementPR_156344_97400Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/69444cs/69444norm Euro Financial Movers: Earnings Over, Onto a Capital Catwalk #Q## earnings season is over at last. Despite a horrible March, there were not too many surprises in the whole process, thanks to expectations management. There is little...1664357362corp41931469572102403567Earnings Reports - Financials5/19/2008 12:12:00 AM150After the 1Q08 earnings season, the big outstanding question is capitalisation and what the right targets are. In the near term, this is likely to be the main driver of equity price action and to provide some comfort to the credit market.694441164YesD0Article3773561924374360120397569444Credit & Investment ResearchCreditSights