Research report published by Standard & Poor's Ratings Services on the 9th to assess the Dodd - Frank bill "may be the impact of the U.S. largest bank, said that regulatory reform will not affect the eight largest banks in the United States temporarily rating.
Standard & Poor's, said, "Dude - Frank Act has been signed for two years, but there are still no details. Standard & Poor's credit analyst Albrecht said: "According to our understanding of regulatory laws and regulations, and based on our current bank capital and earnings is expected, we believe that the impact of regulatory reform on the financial sector will not change our 8 rating of large U.S. banks. "but he also pointed out that," Dodd - Frank Act proposed regulatory rules that may affect standard & Poor's assessment of the banking and risk weights, does not rule out eventually lead to the rating change may be.
Standard & Poor's believes that, "Dodd - Frank bill" will the U.S. financial sector a huge impact, while Bank of America, Citibank, Goldman Sachs, JP Morgan Chase, Morgan Stanley, PNC Financial Services Group, Bank of America Company and Wells Fargo banks, including the eight major U.S. banks will bear the brunt. S & P expects "Dodd - Frank Act may lead to the eight banks reduce pre-tax annual earnings 22000000000-34000000000 U.S. dollars, higher than before the 195 billion to $ 26 billion is expected.
Albrecht said that the increase of income reduction is mainly because the S & P expects U.S. regulators will be more stringent implementation of the Volcker rule seeks to prohibit the banking sector self-employed business.
Dodd - Frank bill "has a symbolic significance in the U.S. financial regulatory reform, U.S. President Barack Obama signed on July 21, 2010, to complete the legislative process. But its details have been slow to complete. In the implementation of the Act the second anniversary of the U.S. Treasury Department has issued a statistical report, on July 18 this year, already 91% of the 243 rules of the bill need to develop the proposed or completed. Standard & Poor's expects that the final "Dodd - Frank Act from the end of 2013 or early 2014 the U.S. financial industry have an impact.
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