日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
Home / World

Moody's may lower ratings of EU banks' subordinated debt

China Daily | Updated: 2011-11-30 07:57

SYDNEY / HONG KONG - Banks in 15 European nations, including the largest lenders in France, Italy and Spain, may have their subordinated debt ratings cut by Moody's Investors Service Inc to reflect the potential removal of government support.

All subordinated, junior-subordinated and Tier 3 debt ratings of 87 banks in countries where the subordinated debt incorporates an assumption of government support were placed on review for downgrade, the ratings company said in a statement on Tuesday. The subordinated debt may be cut on average by two levels, with the rest lowered by one grade, Moody's said.

Lenders in Spain, Italy, Austria and France have the most ratings to be reviewed as governments in Europe face limited financial flexibility and consider reducing support to creditors, the rating company said. Moody's has said that a "rapid escalation" of Europe's sovereign debt crisis threatens the entire region. US President Barack Obama has renewed pressure on European leaders to prevent a dismantling of the euro.

"Systemic support for subordinated debt may no longer be sufficiently predictable or reliable to be a sound basis for incorporating uplift into Moody's ratings," the company said in the statement.

The euro was little changed after the Moody's announcement, trading at $1.3333 as of 9:15 am in London from $1.3320 on Monday in New York.

BNP Paribas, UniCredit

Moody's said the review will include banks such as France's biggest lenders BNP Paribas SA and Societe Generale SA, Italy's UniCredit SpA, and Spain's Banco Santander SA. Zurich-based Credit Suisse AG and UBS AG will also be assessed, according to a list of lenders published by Moody's.

Agreeing on a sufficient response to Europe's problems is of "huge importance" to the United States, Obama told reporters after meeting on Monday with European Union President Herman Van Rompuy and European Commission President Jose Barroso. Finance chiefs from the 17-member eurozone gathered in Brussels on Tuesday to discuss how the European Financial Stability Facility will boost its muscle by insuring sovereign debt with guarantees.

Economists from banks including Morgan Stanley, UBS and Nomura Holdings Inc said over the past week that governments and the European Central Bank must step up their response.

Nomura, Japan's largest brokerage, said in a statement on Monday that it had reduced assets linked to Italy by 83 percent from the end of September, and cut the value of assets linked to Spain by 62 percent. Greek holdings were slashed by 43 percent.

'Stark trade-off'

"Policymakers are increasingly unwilling and/or constrained in their support for all classes of creditors, in particular for subordinated debt holders," Moody's said on Tuesday.

There have also been cases where countries have "faced an increasingly stark trade-off between the need to preserve confidence in their banking systems and the need to protect their own balance sheets", the statement said.

Banks will cut bond sales by 60 percent in Europe next year as the sovereign debt crisis drives up issuance costs, Societe Generale predicts. Lenders will sell 50 billion euros ($67 billion) of senior notes, down from a euro-era low of 121 billion euros so far this year, according to the French bank.

The extra yield that investors demand to hold European bank bonds is the highest since May 5, 2009, widening to 424 basis points on Friday from 336 on Oct 31, Bank of America Merrill Lynch's EUR Corporates Banking index shows.

Bloomberg News

(China Daily 11/30/2011 page16)

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 四虎在线视频 | 亚洲第九十九页 | 免费看91视频 | 欧美一区二区 | 男人超碰| 狠狠干五月天 | 日韩欧美色图 | 成人免费在线播放 | 国产黄色在线免费观看 | 国产在线毛片 | 国产一区二区自拍视频 | 丝袜一级片 | 国产精品一区二区视频 | 国产精品久久久久久免费播放 | 欧美一区二区三区四区五区 | 人人艹人人爱 | 国产一区二区三区高清 | 伊人久久影视 | 一级特黄色 | 亚洲免费激情视频 | 国产xxxx性hd极品 | 美国黄色网 | 亚洲五码在线观看视频 | 精品人伦一区二区 | 欧美男人操女人 | 一区二区精品在线观看 | 五月激情婷婷丁香 | 成年人香蕉视频 | 日韩欧美一级片 | 黄网视频在线观看 | 黄色片aaaa | 国产高清一区二区 | 亚洲视频在线免费看 | 99视频在线 | 国产精品高潮视频 | 小蝌蚪污视频 | 国产男人的天堂 | 国产精品亚洲一区二区三区 | 五月婷婷丁香花 | 超碰夜夜| 日韩国产在线观看 |