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Fitch Teleconf: Sovereign Support for Banks - Rating Path Update: 28 March; 15:00GMT
March 27, 2014 / 2:11 PM / 4 years ago

Fitch Teleconf: Sovereign Support for Banks - Rating Path Update: 28 March; 15:00GMT

(The following statement was released by the rating agency) LONDON, March 27 (Fitch) Fitch Ratings is holding a teleconference to discuss sovereign support for banks globally and give an update on rating paths on Friday 28 March, at 15:00 GMT/16:00 Central European time/11:00 US Eastern time. Fitch has today published a special report entitled "Sovereign Support for Banks'- Rating Path Expectations", which summarises Fitch's views on the evolution of sovereign support for banks globally. This follows a global review of bank support which led to the publication of a number of rating actions yesterday. The rating actions included "Fitch Revises Outlooks on 18 EU Banks to Negative on Weakening Support," Fitch Revises Outlooks on 18 EU State-Sponsored Banks to Negative on Weakening Support," "Fitch Affirms SRFs of 64 EMEA Banks; Downward Revisions Likely for Most due to Weakening Support", " "Fitch Affirms Support Rating Floors of 5 HK Banks, Downward Revisions Likely," "Fitch Affirms Support Ratings and Support Rating Floors for BNY Mellon, State Street and Wells Fargo" and "Fitch Affirms Support Ratings and Support Rating Floors for Large Canadian Banks," dated 26 March 2014 and available at www.fitchratings.com). Fitch has also published a report entitled "US Bank Holdcos and Opcos: Evolving Risk profiles", which considers the potential implications of single point of entry resolution. The following Fitch analysts will speak on the call: James Longsdon, Co-Head of EMEA Financial Institutions Bridget Gandy, Co-Head of EMEA Financial Institutions Joo-Yung Lee, Managing Director, US Financial Institutions There will be time for Q&A. Participants can send questions in advance to steve.hooks@fitchratings.com Teleconference details: Date: Friday 28 March 2014 Time: 15:00 GMT Callers must register in advance using the link below and are requested to dial in early: here DA40C4B1FED21 A replay will be available at www.fitchratings.com, under Fitch Events >Past Events. Contacts: James Longsdon Managing Director +44 203 530 1095 Fitch Ratings Limited 30, North Colonnade, London Steve Hooks Director (Business Relationship Management) +44 203 530 1383 Media Relations: Brian Bertsch, New York, Tel: +1 212-908-0549, Email: brian.bertsch@fitchratings.com; Hannah Huntly, London, Tel: +44 20 3530 1153, Email: hannah.huntly@fitchratings.com. Additional information is available at www.fitchratings.com. Applicable Criteria and Related Research: U.S. Bank HoldCos & OpCos: Evolving Risk Profiles here Sovereign Support For Banks: Rating Path Expectations here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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