Moody’s op risk guidelines hit 134 transactions in Europe

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Following the publication of its operational risk guidelines, Moody's has placed the ratings of 220 tranches in 134 European transactions on review for possible downgrade.

Global structured finance operational risk guidelines: Moody's approach to analysing performance disruption risk, published on March 2, focused on good practice in structured finance transactions, for example, having back-up servicing and liquidity arrangements in place.

The tranches concerned are mostly rated Aaa at present,