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Global custodians provided
capital relief by Dodd-Frank
amendment
An amendment to the Dodd-Frank Act was introduced to ease requirements
for smaller banks. However, three unlikely banks have benefited too.
I
n May 2018, US President Donald
Trump signed into law an amendment
to post-financial crisis regulation, the
Dodd-Frank Act, that would rollback
certain parts of the legislation.
20
Global Custodian
Summer 2018
The bill was aimed at providing relief
to small- and medium-sized banks with
less than $250 billion in assets, which
were seen as being disproportionally
affected by the tougher rules.
However, the amendment has also
provided relief to some of the largest US
custodian banks - BNY Mellon, Northern
Trust and State Street.
This is because it included a provision