Today, Lloyds Banking Group confirmed that its discussions with the U.K. Treasury about “participating in the Asset Protection Scheme are progressing and are well advanced” and it “will provide a further market update in due course," but that the negotiations have yet to be concluded. In a separate announcement today, Lloyds Banking Group disclosed significant losses for 2008. Yesterday, the U.K. Treasury announced the details of the Asset Protection Scheme and that RBS had agreed to participate under its terms.