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Moody's will announce downgrades of some of world's biggest banks, incl in UK, after US mkts close tonight........

The move is expected as part of a broader credit downgrade of some of the world's major banks and could be delayed until after US markets close.

It is thought that British banks including Barclays, HSBC and Royal Bank of Scotland are facing a cut in their ratings by as much as two notches, reflecting the continued impact of the eurozone crisis on the global banking system.
A downgrade would potentially cost banks billions of pounds in additional funding costs as it essentially flags an increase in risks associated with lending to those institutions.

It would also force banks to hand over billions more in collateral to trading counter-parties.

http://www.telegraph.co.uk/finance/debt-crisis-live/9345813/Debt-crisis-live.html