A spokesman for Lloyds said the period under review was before it was taken over by Lloyds TSB.
He added: "This will help to draw a line under the events in question and allow the Group to move forward."
- HBOS's corporate banking division was by Peter Cummings - who reportedly left with a £660,000 pay-off and a £6m pension pot.
- When Lloyds took over HBOS at the height of the banking crisis, it was forced to write off more than £20bn
- In the three years from the start of 2006, its transactions increased in size and complexity and left it with concentrated exposures to property and significant large borrowers.
The Financial Services Authority said HBOS's corporate division took too many risks from the start of 2006, leaving it vulnerable to the financial downturn.
Tracey McDermott, FSA acting director of enforcement, said:
The Bank of Scotland was guilty of "very serious misconduct" which contributed to the taxpayer bailout of its parent company HBOS, the City watchdog has found.
The FSA criticised the "aggressive deal structures" increasingly pursued by the bank and said it failed to reduce its risky behaviour despite expectations of a downturn in the markets.
Although this behaviour contributed to the taxpayer bailout of HBOS - and the eventual bailout of Lloyds, which bought HBOS - there will be no punishment as the FSA seeks to protect taxpayers' money.