London, 17 March 2015 -- In a series of rating actions taken on 17 March 2015, Moody's Investors Service says that its European bank ratings will now reflect the declining probability of government support under the European Union's (EU) Banking Recovery and Resolution Directive (BRRD). Moody's now anticipates that fewer than 5% of European bank deposit ratings will include more than one notch of government support, compared to around 40% at present. However, ratings impact will be somewhat mitigated by the potential for lower loss rates in the event of resolution, and some by support for senior creditors provided by buffers of subordinated debt.

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