American financial majors Citigroup Inc., Goldman Sachs Group, Morgan Stanley and J.P. Morgan Chase & Co. were cut by two notches with the negative outlook, while Bank of America Corpwas cut one notch and its outlook is also negative.In the U.K., Moody's cut the credit rating of Royal Bank of Scotland Group and HSBC Holdings by one notch and Barclays was cut two notches. All banks have a negative outlookThe ratings agency also cut its ratings on France's BNP Paribas, Germany's Deutsche Bank and even Switzerland's Credit Suisse. Royal Bank of Canada also saw its rating cut by one notch."All of the banks affected by today's actions have significant exposure to the volatility and risk of outsized losses inherent to capital markets activities", Greg Bauer, Moody's Global Banking Managing Director, said in a statement.President of Russia's largest lender Sberbank Herman Gref said that "the markets didn't react to the downgrade decisions.""I don't think those actions have any additional impact.