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Bank Industry Risk Analysis: France Aug 02
Standard & Poors, Aug 2002
Abstract
The French banking system, which went through a difficult period in the first half of the 1990s, is better positioned to cope with the current economic slowdown, thanks to improvement in the fundamentals of the industry. The depth and diversity of the French economy, the fourth-largest in the world, translate into low economic risk for domestic banks. Economic growth in recent years has been achieved without excessive reliance on any specific sector. France's membership in the European Monetary Union results in the economy being correlated with those of European partners, with little ability to pursue countercyclical policies, but it considerably limits the risk of volatility derived from interest rate or currency fluctuations. Unlike in the period leading to the recession...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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