PNC Financial Services Group Inc

NYSE:PNCUnited States

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• PNC Releases Results of Dodd-Frank Company-Run Stress Test, from 53 minutes ago by Dow Jones

  53 minutes ago by Dow Jones
  Companies Mentioned: PNC
  
  PNC Releases Results of Dodd-Frank Company-Run Stress Test
  
  PR Newswire
  
  PITTSBURGH, June 28, 2024
  
  PITTSBURGH, June 28, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today the results of its biennial company-run stress test conducted in accordance with regulations of the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC) under the Dodd-Frank Wall Street Reform and Consumer Protection Act. These company-run stress tests are designed to help assess whether banking organizations have sufficient capital to absorb losses and support operations during hypothetical severely adverse economic conditions over a nine-quarter projection period. The projection period for the 2024 test covers Jan. 1, 2024 to March 31, 2026.
  

• PNC Announces Stress Capital Buffer (SCB) and Planned Capital Actions, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: PNC
  
  PNC Announces Stress Capital Buffer (SCB) and Planned Capital Actions
  
  PR Newswire
  
  PITTSBURGH, June 28, 2024
  
  PITTSBURGH, June 28, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) this week received the results of the Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR). The Federal Reserve's CCAR disclosure included its estimate of PNC's minimum capital ratios for the period from the first quarter of 2024 through the first quarter of 2026 under the hypothetical Supervisory Severely Adverse scenario. Based on PNC's strong results, PNC's calculated Stress Capital Buffer (SCB) for the four-quarter period beginning Oct. 1, 2024 is 2.2%, which is below the regulatory minimum SCB amount, resulting in an SCB of 2.5%. This is consistent with PNC's SCB in effect through Sept. 30, 2024. PNC's Common Equity Tier 1 (CET1) ratio of 10.1% as reported for March 31, 2024 significantly exceeds the regulatory minimum plus our SCB (7.0%), reflecting our strong capital levels. Furthermore, under the Federal Reserve's projections in the 2024 Supervisory Severely Adverse scenario, PNC's post-stress capital ratios are projected to remain well above regulatory minimums, with our minimum and ending CET1 ratios both projected to be 8.3%, compared to the regulatory minimum of 4.5%.
  

• Press Release: PNC Announces Stress Capital Buffer (SCB) and Planned Capital Actions, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: PNC

• PNC Releases 2023 Corporate Responsibility Report Highlighting Efforts to "Brilliantly Support All Stakeholders", from 8 hours ago by Dow Jones

  8 hours ago by Dow Jones
  Companies Mentioned: PNC
  
  NORTHAMPTON, MA / ACCESSWIRE / June 28, 2024 / The PNC Financial Services Group:
  
  PNC's success is dependent upon our ability to create long-term value for all our stakeholders. Our unwavering focus on smart risk management and old-fashioned, relationshipbased customer service builds the foundation from which we can then engage deeply and meaningfully across the many constituencies we serve. We are active partners in strengthening our communities. We invest in building an inclusive workplace where all employees are heard and valued and can do their best work. We offer our clients practical, actionable advice for a rapidly changing world. We also provide the kind of steady, even-keeled management that gives our investors trust in our governance, management, business strategy and day-to-day operations.