Banks’ Tier 1 Capital, NII, I-Banking Impact Under Basel III

Today regulators published final Basel III rules for U.S. banks. Citi's best assessment is that the final rules were relatively in line with investor expectations for the “advanced” banks (The Bank of New York Mellon Corporation (NYSE:BK), Bank of America Corp (NYSE:BAC), Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Morgan Stanley (NYSE:MS), Northern Trust Corporation (NASDAQ:NTRS), PNC Financial Services (NYSE:PNC), State Street Corporation (NYSE:STT), U.S. Bancorp (NYSE:USB) and Wells Fargo & Co (NYSE:WFC)).  They  did  find  the  rules modestly exceeded investor expectations for the non-advanced banks (BB&T Corporation (NYSE:BBT), Fifth Third Bancorp (NASDAQ:FITB), M&T Bank Corporation (NYSE:MTB), Comerica Incorporated (NYSE:CMA), First Horizon National Corporation (NYSE:FHN), First Niagara Financial Group Inc. (NASDAQ:FNFG), Huntington Bancshares Incorporated (NASDAQ:HBAN), KeyCorp (NYSE:KEY),...