S&P Lowers Ratings for EU Banks

February 4th, 2015

Yesterday, Tuesday, February 2, 2015, Standard & Poor’s Ratings Services (S&P) lowered the ratings of several large financial institutions in the European Union (EU).   On January 1, 2015, the EU implemented its Bank Recovery and Resolution Directive, which prescribes new rules to manage the failure of some of the EU’s largest banks. S&P said that the new regulations made “extraordinary government support” less likely and less predictable in the case of future bank failures.

 

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