NAB credit rating unaffected by FX options losses, says S&P

The losses, expected to result in pre-tax forex option losses of A$180 million ($140 million), were disclosed by the Australian bank yesterday.

“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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