Moody's assigned a 'negative outlook' to both JPMorgan and BNY Mellon, indicating it may lower the banks' credit ratings in the near-term.  A downgrade is possible over the next 12-18 months on the possibility that the banks will receive less U.S. government support in the future.  That said, Moody's affirmed the current ratings of JPMorgan and BNY Mellon - Aa3 and Aa2, respectively. 

The ratings reflect the close relationship between the U.S. government and the banks, which were among the earliest to receive TARP funds.  Moody's said that the decision to drop both banks' rating outlook to negative was influenced, in part, by the negative rating outlook on the U.S. government, and by the impact of Dodd-Frank Act and other legislation that negatively impact the likelihood that "systematically important" banks will receive government assistance.    [CNBC, 8/3/11]