Various Rating Actions Taken On U.K. Banks On Stabilizing Industry Risks

We believe that the U.K. banking industry is making good progress in its multi-year transformation toward a more predictable risk profile. Important elements of the banking reform agenda have been implemented over the past year, which in our view provide more clarity on the future operating environment for the sector. We are also now more confident that the more restrained risk appetite of recent years could prove enduring. As a result, we now see a stable trend for U.K. banking industry risk, which we had viewed as negative previously. We are affirming our ratings on 10 U.K.-based banks. We are revising the outlook to stable from negative on two U.K.-based banks, Clydesdale Bank and FCE Bank. The outlooks on many

...+ We believe that the U.K. banking industry is making good progress in its multi-year transformation toward a more predictable risk profile. + Important elements of the banking reform agenda have been implemented over the past year, which in our view provide more clarity on the future operating environment for the sector. + We are also now more confident that the more restrained risk appetite of recent years could prove enduring. + As a result, we now see a stable trend for U.K. banking industry risk, which we had viewed as negative previously. + We are affirming our ratings on 10 U.K.-based banks. + We are revising the outlook to stable from negative on two U.K.-based banks, Clydesdale Bank and FCE Bank. + The outlooks on many of the other institutions remain negative as they reflect our view that we may reduce or remove government support from their ratings by year-end 2015. LONDON (Standard & Poor's) May 22, 2014--Standard & Poor's Ratings Services said today that it affirmed its long-...

Ratings Action