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Moody’s downgrades ratings of 5 Dutch banks
Business Week – Moody’s cut the credit ratings of five Dutch lenders, including ING Groep NV and state-owned ABN Amro NV on Friday, citing a weak Dutch economy, falling house prices, and the effects of the European debt crisis. “Dutch banks will face difficult operation conditions throughout 2012 and possibly beyond,” the ratings agency said. The move follows a review announced on Feb. 15. Moody’s said all the downgraded banks have large mortgage books and high reliance on raising funds from other banks. Read Article
Tags: 2nd Great Depression, banks, debt wealth, Europe, financial system
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