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Bulletin: National Australia Bank Ltd. Ratings Supported By Basel II Advanced Credit-Risk Accreditation Jun 08
Standard & Poors, June 2008
Abstract
MELBOURNE (Standard & Poor's) June 30, 2008--Standard & Poor's Ratings Services today said that its ratings on National Australia Bank Ltd. (NAB; AA/Stable/A-1+) are supported by NAB's announcement that it has received accreditation under the Basel II Advanced Internal Ratings Based (IRB) approach for credit risk. This accreditation by Australian Prudential Regulation Authority (APRA) is in line with Standard & Poor's expectations and is for the bank's Australian, New Zealand, and nabCapital operations, effective from July 1, 2008. Standard & Poor's also expects that during 2008 the bank will receive APRA accreditation to utilize the advanced approach for calculating interest rate risk in the banking book under Basel II. We note that the group also expects to eventually receive the...
Companies mentioned in this report are: National Australia Bank Ltd.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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