Banking

Highlights

• 24 May 2012
  • One Norwegian and three Swedish banks downgraded, and two Swedish banks confirmed, as part of wider review of European banks
    We downgraded one Norwegian bank and three Swedish banks, and confirmed two Swedish banks, as part of a review for downgrade of various European banks initiated on 15 February 2012. The outlook on the six affected banks is now stable. We already took action on 16 Spanish banks and 26 Italian banks last week, and on seven Portuguese banks in March. We expect to conclude the remaining reviews on other European banking systems by the end of June. This wider review is driven by the difficult European operating environment caused by the prolonged euro area crisis, and the deteriorating creditworthiness of certain euro area sovereigns… Bank Ratings Page l Ratings List
• 21 May 2012
  • Relaxed criteria for Russian banks to take retail deposits are negative for bondholders
    The Russian Ministry of Finance’s new draft law on the insurance of household deposits by the State Deposit Agency relaxes the financial criteria for banks to be eligible to take retail deposits. If enacted, the new law would be credit negative for Russian banks’ bondholders because relaxed requirements would reduce banks’ incentive to maintain financial metrics higher than regulatory minimums… Full Report
  • South African reserve bank’s committed liquidity facility is credit positive
    The South African Reserve Bank has approved the provision of a committed liquidity facility to South African banks and the utilisation of statutory cash reserves as eligible liquid assets in the calculation of the liquidity coverage ratio under the proposed Basel III framework. These measures will enhance banks’ contingent liquidity and help them comply with the new ratio… Full Report