Landesbanks hit by EU ruling on credit ratings
PEOPLE NEWS
Falling ratings will mean certain institutional investors and central banks will no longer be able to trade with banks that lose their AA rating. The change will also limit the extent to which the banks can engage in prop trading, according to Luis Maglanoc, senior credit analyst at HVB in Munich. He said: "Trading volumes have fallen as a result of the fact that banks will no longer be able to use their credit lines to trade with other banks."
However, the landesbanks have had plenty of warning
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