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ARCHIVE | Criteria | Financial Institutions | Banks: Methodology: Treatment Of B Shares And Asset Protection Scheme Fees In Standard & Poor's Capital Ratios For U.K. Financial Institutions Apr 10
Standard & Poors, April 2010
Abstract
Standard & Poor's is updating its criteria for the treatment of B shares and APS fees to clarify several areas. The clarification focuses on: The equity content of B shares and associated dividend access shares issued by U.K. financial institutions. The equity content determines the level of credit given to these instruments in the calculation of our capital measures adjusted total equity (ATE) and total adjusted capital (TAC). The treatment of APS fees in the calculation of our capital measures. This article supersedes 'Methodology For Assessing Features Of The U.K. Government Asset Protection Scheme In S&P's Capital Ratios,' which we published on Sept. 30, 2009. The discussion of B shares and APS fees in that September 2009 article was based...
Companies mentioned in this report are: The Royal Bank of Scotland PLC,The Royal Bank of Scotland Group PLC
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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