Moody's says Nazi-era issue may hurt Swiss banks, but downgrade unlikely

Article Abstract:

Credit Suisse Group, a banking institution headquartered in Switzerland, and UBG AG, a rival bank also of Switzerland, are expected to be adversely affected by the lawsuits filed against the banks due to their participation in Nazi atrocities during World War II, according to Moody's Investors Service Inc. The investment firm maintains that the controversy, while not enough to disparage the banks' credit ratings, may endanger the two institution's long-term prospects. The banks have been charged with profiting from gold stolen by Nazis and preventing survivors of German war crimes to recover monetary compensation.

Comment:

Is expected to be adversely affected by lawsuits over its participation in Nazi atrocities in World War II, says investment co

Switzerland, Business Credit Institutions, All Other Nondepository Credit Intermediation, Commercial finance companies, Credit Suisse (Zurich, Switzerland), Article, UBG AG

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China ponders banking changes

Article Abstract:

Policy makers in China are considering making changes to the country's banking sector. The proposed measures are designed to strengthen struggling Chinese banks. China could divided each of its four state banks into two entities.

China, DEPOSITORY INSTITUTIONS

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Lloyds TSB may sell New Zealand bank; clearance expected

Article Abstract:

Lloyds TSB is expected to sell off National Bank of New Zealand Ltd. to any number of potential buyers. Analysts believe that the expected deal will not be an issue for regulatory officials.

United Kingdom, New Zealand, Lloyds TSB Group PLC, National Bank of New Zealand Ltd.

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