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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 .
In 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 .
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
20 Global Custodian Summer 2018