Whilst in the Asia Pacific region, Australia's big four banks were downgraded by Standard & Poor's (S&P) and Chinese banks have been upgraded, bringing most of the large banks in the region in line with each other, all with a AA- rating.
- Global market volatility highlighted by credit rating movements.
- Eurozone uncertainty driving global wholesale funding costs higher.
- Big Four uncover covered bonds.
- Big transactions for subordinated debt.