Thanks. Looks like they had 2.4Bn reserved. So, they probably will need to add to their reserves over the coming year.
One thing I don't fully understand is the difference between US and UK accounting standards for impaired loans. The 20F touches on this, noting that UK treatment generally results in higher levels of impairment.
What I have not settled in my mind is whether this accounting means lower reserves are warranted or not. Any opinion?