The banks were named as institutions in line for a possible downgrade by Moody’s over the next three months.
Decision would not driven by weaker financial positions, Moody’s said in a statement, but by a changing regulatory environment.
Bank of Ireland, Co-Operative Bank, Coventry Bulding Society, Nationwide Building Society, Newcastle Building Society, Norwich & Peterborough Building Society, Nottingham Building Society, Principality Building Society, Santander UK, Skipton Building Society, West Bromwich Building Society and Yorkshire Building Society are also in line for a possible downgrade.
“The reassessment is not driven by either a deterioration in the financial strength of the banking system or that of the government,” said Elisabeth Rudman, a Moody’s senior credit officer and lead analyst for a number of UK banks.
“It has been initiated in response to ongoing guidance from the UK authorities (the Bank of England, the Financial Services Authority and the Treasury) that banks that fail in the future should not expect capital injections from the public purse.”
