CNN —Moody’s has put the credit ratings of six large US banks, including Bank of New York Mellon, State Street and Northern Trust, under review for a possible downgrade.
A lower credit rating could push funding costs for those banks even higher.
This, in turn, has raised fears that banks, which finance many commercial real estate deals, could suffer losses as a result.
“Most regional banks have comparatively low regulatory capital versus the largest US banks and global peers,” Moody’s noted Monday.
Moody’s also downgraded 10 smaller US banks Monday, including Commerce Bancshares (CBSH), BOK Financial Corporation and M&T Bank Corporation.
Persons:
CNN — Moody’s, Dow, Cullen Frost, ” Moody’s, Moody’s
Organizations:
CNN, Bank of New York Mellon, State, Northern Trust, Nasdaq, Silicon Valley Bank, Signature Bank, First, U.S . Bancorp, Commerce, BOK Financial Corporation, T Bank Corporation
Locations:
Silicon, First Republic, United States