Citigroup Leads Wall Street Banks in Moody’s Downgrade Dismissal

Citigroup Leads Wall Street Banks in Moody’s Downgrade Dismissal

David Paul Morris/Bloomberg

Citigroup, Morgan Stanley , Bank of America Corp. and Royal Bank of Scotland Group Plc are among banks reacting to the downgrades, which could boost the firms’ borrowing costs and force them to post more collateral to trading partners when dealing in derivatives, a type of financial instrument.