We consider that potential extraordinary government support for European banks will likely decrease as resolution frameworks are put in place. However, we believe these frameworks are less likely to impede France's willingness to provide extraordinary support to La Banque Postale, if needed. We are affirming our 'A/A-1' counterparty credit ratings on La Banque Postale. The stable outlook reflects our view that La Banque Postale's stand-alone creditworthiness and the high likelihood of extraordinary government support we see for La Banque Postale are unlikely to change over the next 24 months. As previously announced on April 29, 2014, Standard&Poor's Ratings Services has affirmed its 'A/A-1' counterparty credit ratings on France-based La Banque Postale. The outlook is stable. The affirmation follows
