Moody’s, DBRS lower ratings on Banco Espirito Santo
Report aims to ensure a harmonized approach to handling complaints across all financial sectors within the EU
Measures signal policy options
Economists suggest that the bank may have more to do
European Central Bank expected to cut interest rates this week
New banking rules cited as the reason for the ratings changes
Negative implications follow from new framework to resolve failing banks
Bank will have up to nine months to cover capital shortfalls
Scope extended to trading venues such as multilateral trading facilities and over-the-counter (OTC) markets
Draft rules require firms to provide a mandatory Key Information Document