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Moody's upgrades German bank system to stable on government role

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Picture taken on Apr 28, 2015, shows the logo of German bank Commerzbank in front of the company's headquarters in Frankfurt am Main, western Germany.

[BERLIN] Moody's Investors Service upgraded Germany's banking system to stable from negative after the introduction of a banking-resolution framework removed uncertainty surrounding government support for lenders.

Banks are also benefiting from increasingly stable operating conditions and high-quality loans on their books, the ratings service said in a statement on Thursday. Lenders have also "significantly reduced" their exposure to volatile assets such as global shipping, commercial real estate and structured credit, Moody's said.

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