Following the downgrade of the US credit rating, Moody's downgraded JPMorgan Chase, Bank of America, and Wells Fargo.
路透中文2025-05-20
Following the downgrade of the US credit rating,<a href="https://laohu8.com/S/MCO">Moody's</a>reduce<a href="https://laohu8.com/S/JPM">JPMorgan Chase</a>、<a href="https://laohu8.com/S/BAC">Bank of America</a>and<a href="https://laohu8.com/S/WFC">Wells Fargo Bank</a>ratingReuters, May 19-Moody's downgraded JPMorgan Chase on Monday.JPM.NBank of AmericaBAC.Nand Wells FargoWFC.NThe long-term ratings of top U.S. lenders, due to their massive $36 trillion in debt, have pushed the United States out of the top triple-A rating club.
The rating agency also downgraded the long-term deposit ratings of Bank of America, JPMorgan Chase, and Wells Fargo from Aa1 to Aa2, and downgraded NYCB.BK.NandState StreetSecuritiesSTT.NThe long-term counterparty risk rating of certain rated subsidiaries and branches was downgraded from Aa1 to Aa2.
The sovereign credit rating was downgraded on Friday.LinksThis has caused ripples in the global market. On that day, U.S. President Donald Trump's tax bill failed to pass a key procedural hurdle as hardline Republicans sought deeper spending cuts.
On Sunday, the bill received approval from a key congressional committee.LinksThis is a rare victory for Trump and House Speaker Mike Johnson.
Moody's said in a statement that the U.S. rating downgrade indicates a decline in the country's ability to support the highly rated debt of these banks.
(To facilitate non-native English speakers, Reuters has automatically translated its reports into several other languages. Because automated translations may be incorrect or fail to include the required context, Reuters does not guarantee the accuracy of the automated translations; they are provided solely for the convenience of readers. Reuters assumes no responsibility for any damages or losses incurred as a result of using the automated translation function.)
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