NAB credit rating unaffected by FX options losses, says S&P
The credit rating of National Australia Bank is unaffected following the disclosure of unauthorised foreign exchange transactions, rating agency Standard & Poor's (S&P) said today.
“S&P will closely monitor the bank’s investigation of its risk management practices so as to better understand the nature of the risk management breakdown and the extent to which this incident is indicative of the strength of the bank’s overall risk management capability,” said S&P credit analyst Craig Bennett.
S&P said the disruption to risk
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