The rating agency Standard’s & amp; Poor’s said Wednesday it upheld almost all of the ratings of 45 European banks “systemic” but placed on “negative watch” the note from BNP Paribas after the introduction in Europe of new measures to avoid straining the Taxpayers in bank failures.
The rating agency had placed the rating review of most European banks in April 2014 following the adoption by the European Parliament of the Directive on the recovery and resolution of banking crises (BRRD) stipulating in particular the transfer of risk recapitalization bondholders.
S & amp; P said that after this review, it was confirmed “in the vast majority of cases”, notes 45 systemic banks in 13 European countries, including France, Belgium and Switzerland since “the withdrawal of the exceptional support of states is compensated, either by improving the banks’ credit quality, either by the positive impact of regulatory frameworks and strategies for building of debts cushions sufficient to protect senior creditors “.
The agency has instead placed “under review with negative implications”, rated A + BNP pending “clarification of the group’s policy on the constitution of its TLAC requirements (regulatory ratio of Total Loss Absorbing Capacity) “.
“We also note that the bank has so far built a subordinated debt cushion more modest than its peers,” said S & amp; P.
-Jérôme Batteau, Dow Jones Newswires; 33 (0) 1 40 17 17 40; jerome.batteau@wsj.com ed: PNR
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