–  The new rules lead to comparative disadvantages to the European banking system. The US banks rely more on fees than on deposits. The global playing field will be tilt. –  As the real economy is mainly financed by the banking system, financing conditions for companies without access to the capital markets would tighten and trigger a negative impact on economic growth.
Figure 3 Medium and long-term debt annual repayment schedule (after extension of the EFSF and EFSM loans)  Source: IGCP (Portuguese Treasury and Debt Management Agency).