Bulletin: Watch Placements For Systemic Austrian, German, And U.K. Bank Operating Companies To Be Reviewed Around End May 2015

LONDON (Standard&Poor's) April 16, 2015--Standard&Poor's Ratings Services previously signaled its intent to resolve the CreditWatch placements on certain Austrian, German, and U.K. bank operating companies and group members in early May. We now expect to conclude this review in late May or early June. As discussed in "S&P Takes Various Rating Actions On Certain U.K., German, Austrian, And Swiss Banks Following Government Support Review," and "Credit FAQ: The Rating Implications Of The Emerging Bank Resolution Frameworks In The U.K., Germany, Austria, And Switzerland," both published Feb. 3, 2015, our base-case expectation is that when we resolve the CreditWatch placements, we will reclassify U.K., German, and Austrian governments as "support uncertain" and remove notches of extraordinary government

...LONDON (Standard & Poor's) April 16, 2015--Standard & Poor's Ratings Services previously signaled its intent to resolve the CreditWatch placements on certain Austrian, German, and U.K. bank operating companies and group members in early May. We now expect to conclude this review in late May or early June. As discussed in "S&P Takes Various Rating Actions On Certain U.K., German, Austrian, And Swiss Banks Following Government Support Review," and "Credit FAQ: The Rating Implications Of The Emerging Bank Resolution Frameworks In The U.K., Germany, Austria, And Switzerland," both published Feb. 3, 2015, our base-case expectation is that when we resolve the CreditWatch placements, we will reclassify U.K., German, and Austrian governments as "support uncertain" and remove notches of extraordinary government support for affected banks. This is because the emerging bank resolution frameworks seem likely to heavily constrain governments' capacity to provide systemic support to a failing systemic...

Bulletin