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18 March 2019

Please see below the latest articles from our Financial Institutions team.

book_latest_research.pngLatest Publications From Our Bank Analysts  

One of the main policy reforms introduced following the global financial crisis was to make "too big to fail" banks resolvable. Resolvability for these firms means that they can be recapitalized and restructured in an orderly way... Continue reading

Japan's regional banks are boxed in. The central bank has implemented a negative interest rate policy (NIRP) since 2016, constraining profitability. In addition, revenue diversification is limited. These are the key reasons why Japan's regional banks continue to lag international peers. Read more

The recent monetary policy decisions by the European Central Bank (ECB) are net negative for our ratings on European banks. Although the decisions by themselves are not material enough to have immediate rating implications, the reasons behind the ECB's move cast a spotlight on the rising risks for banks... Continue reading

Outlooks on Spanish banks are now largely stable, after a few years of upgrades across the system. Future rating actions will likely be driven by bank-specific developments rather than system-wide developments. Continue reading

Visit our hot topics page Themes in Global Banking for more on our recent published articles, including:
light_bulb_thought_leadership.png Global Publications From Other Sectors

At odds with their European peers, French firms' indebtedness has continued to rise since the 2008 financial crisis, reaching more than €4 trillion (175% of GDP) in the third quarter of 2018. At this stage, S&P Global Ratings doesn't see this as alarming in the wider context of firms' global investment strategies. View the report

The marketplace lending sector, where borrowers and lenders connect through online platforms to apply for and fund loans, emerged in 2005 and has seen rapid growth since 2014 as a direct response to the growing demand for consumer credit coupled against a post-recession backdrop of banks and traditional lenders tightening credit availability. View the report

Since 2012, most major U.S. markets have enjoyed large annual home price gains, with double-digit returns seen in some regions during the early years of the recovery. This price growth is attributable to supply constraints, as well as generally positive market fundamentals in recent years... Continue reading

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For more information visit Ratings Actions

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Tues 09 Apr, 2019 or Thurs 11 Apr, 2019 | 08:00 a.m. (local time) | Johannesburg | Cape Town

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For access to more of our research and insights, please visit our dedicated Financial Institutions webpage. If you're having trouble viewing any of the reports included in this email, or would like to get in touch with one of our analysts, please contact us

Kind regards,

Alex Birry
Managing Director
Head of Analytics & Research - Financial Institutions 
S&P Global Ratings