Good asset quality relative to peers over an extended period. Leading business positions in U.K. banking and global investment banking. Reasonably diversified revenues by business line and by geography. In the midst of a period of significant restructuring. Investment banking, while being reduced in relative importance, increases group revenue volatility and confidence sensitivity relative to many peers. The combination of possible litigation charges and other exceptional items casts a shadow over our already below par earnings expectations. The negative outlook on U.K.-based Barclays Bank PLC reflects Standard&Poor's Ratings Services' view that we may lower the long-term counterparty credit rating by up to two notches by year-end 2015 if we consider that extraordinary government support is less predictable under
