S&P downgrades banks in Euro bloc on government aid during crisis

Note: This section contains information in English only.
Source: Bloomberg
Six banks in Europe, including HSBC Holdings Plc and Credit Suisse Group AG, went through a rating cut by the S&P ratings agency amid the prospect governments are not likely to provide support during a crisis. The EU introduced the bank-resolution law in 2014 in an attempt to prevent bailouts using taxpayers' funds that prevailed during the financial crisis.
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