BNY Mellon Faces Ouster From Argentina Debt Deal, Lawsuit Over Related Payments

Although we don't expect BNY Mellon to incur any direct financial penalties from the ongoing debt row, the bank's loss of the Argentine government as a client is bound to have repercussions for its operations in the region in the long run. But the negative impact of this on the world's largest custody bank does not warrant a revision in our $37 price estimate for BNY Mellon's stock.