This would make sense for our euro assets, chief executive Antonio Horta-Osorio told reporters on Friday at the news conference for the part state-owned lender's full-year results.
He said while Lloyds had made no decision yet about the ECB facility -- the LTRO (long-term refinancing operation) -- such a move would help ring-fence our non-core European assets.
The ECB will offer funds on Wednesday with uptake of the LTRO expected to be in the region of 500 billion euros (424.4 billion pounds).
Lloyds posted a full-year loss of 3.5 billion pounds on Friday.
(Reporting by Sudip Kar-Gupta; Editing by Dan Lalor)