European Markets Fall, Led By Banks, Oils - European Commentary

(RTTNews) - The European markets fell for the fourth day on Friday, as banking stocks declined after the European Central Bank said it has decided to amend the rating requirements for asset-backed securities to be eligible for use in Eurosystem credit operations and energy stocks edged lower after crude oil prices slipped.

According to an ECB press release, the Eurosystem will require at least two ratings from an accepted external credit assessment institution for all asset-backed securities issued as of March 1, 2010. In determining the eligibility of these asset-backed securi (continued...)