Moody’s is taking several outlook and rating watch actions on a bunch of banks following passage of the Dodd-Frank fin reg refor

Financials update from Moody’s out after the bell on Tues – Moody’s is taking several outlook and rating watch actions on a bunch of banks following passage of the Dodd-Frank fin reg reform legislation; Moody’s is taking these actions b/c of the removal of systemic gov’t support that it feels is codified in the reform legislation (Moody’s has warned this would be a consequence of the legislation).  BAC, C, and WFC have their outlooks taken from Stable to Negative.  RF and STI are placed on review for downgrade (max 1 notch d/g for the holding co and max 2 notch d/g for the bank).  For BBT, COF, FITB, KEY, PNC, BPOP, USB, and ZION, they saw their bank-level ratings put on review for a d/g (the holding co ratings were not impacted)