Moody’s eyes U.S. banks for downgrade

Moody’s Investors Service placed a group of U.S. banks under review for downgrade, citing the continuing challenges in the U.S. banking sector.

In a press release, “Moody's said the rating action reflects several sources of strain on the U.S. banking sector: funding pressures, regulatory capital weaknesses and rising risks associated with commercial real estate exposures.”

The banks being reviewed for downgrade are Northern Trust Corp., State Street Corp., Truist Financial Corp., U.S. Bancorp, the Bank of New York Mellon Corp. and Cullen/Frost Bankers, Inc.

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