UK banks set to be downgraded

clock

UK banks including RBS, Barclays and HSBC are set to be downgraded by Moody's this evening, it has emerged.

The expected move is part of the rating agency's wider downgrade of major world banks amid the deepening eurozone crisis, reports Sky News. Confirmation of the downgrades, which could potentially add billions of pounds to the funding costs of impacted institutions, is expected after US markets close this evening. Barclays, HSBC and state-owned lender RBS are reportedly among the banks under scrutiny as the global financial crisis piles more pressure on lenders. Banks across the Channel, including Societe Generale and BNP Paribas, could also be hit by the action, in addition to Wall...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read
Chancellor Khalaf has a plan to make our economy boom

Chancellor Khalaf has a plan to make our economy boom

'So, Sir Keir, if you're reading, I do genuinely hope Rachel is doing okay. And my number's still the same. So, you know, call me'

Laith Khalaf
clock 25 July 2025 • 5 min read