We consider that potential extraordinary government support for European banks will likely decrease as resolution frameworks are put into place. We are affirming our 'A/A-1' counterparty credit ratings on Nationwide Building Society. The negative outlook reflects the possible removal of government support by year-end 2015 and the implications for Nationwide Building Society of the negative trend we see for U.K. banking industry risk. As previously announced on April 29, 2014, Standard&Poor's Ratings Services affirmed its 'A/A-1' counterparty credit ratings on U.K.-based Nationwide Building Society. The outlook is negative. The affirmation follows the completion of our review of potential extraordinary government support for European banks (see "Standard&Poor's To Review Government Support In European Bank Ratings," published on
