Latest news with #SCB
Business Wire
3 hours ago
- Business
- Business Wire
Northern Trust Corporation announces 2025 Stress Capital Buffer and Intent to Increase Quarterly Common Stock Dividend by 7 percent
CHICAGO--(BUSINESS WIRE)--Northern Trust Corporation today commented on the results of the Federal Reserve's 2025 Comprehensive Capital Analysis and Review (CCAR). Northern Trust will propose an increase of $0.05/share to its quarterly cash dividend on common stock, subject to approval by its board of directors. 'The results of the Federal Reserve's annual CCAR stress tests have again confirmed the strength of our capital position and business model,' Chairman and Chief Executive Officer Michael O'Grady said. 'We continue to maintain robust capital levels and look forward to investing in our franchise and returning excess capital to shareholders, in line with our strategic priorities.' Based on the 2025 CCAR results, Northern Trust will be subject to a preliminary stress capital buffer (SCB) of 2.5 percent, which is the minimum SCB requirement under the applicable regulation and unchanged from the current level. The SCB will be effective from October 1, 2025, to September 30, 2026, and will equate to a minimum common equity tier 1 (CET1) ratio of 7 percent. Northern Trust evaluates its planned capital actions, inclusive of its quarterly cash dividend on common stock, at each quarterly board of directors meeting. At the July 2025 meeting, Northern Trust will propose an increase of $0.05/share to its quarterly cash dividend on common stock, subject to approval by its board of directors. Northern Trust will continue to take an opportunistic, considerate approach to common stock repurchases. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at
Business Wire
5 hours ago
- Business
- Business Wire
U.S. Bancorp Comments on Dodd-Frank Act Stress Test Results
MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bancorp (NYSE: USB) commented on the results of the Federal Reserve's Dodd-Frank Act Stress Test (DFAST) conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act. Based on the 2025 stress test results and current rule requirements, the company's preliminary stress capital buffer (SCB) is 2.6 percent for the period beginning October 1, 2025, and ending on September 30, 2026. The SCB, when added to the Basel III Common Equity Tier 1 (CET1) capital to risk-weighted assets ratio minimum of 4.5 percent, requires the company to maintain a CET1 ratio at or above 7.1 percent throughout this period. The Federal Reserve has stated that it expects to finalize the SCB for all firms by August 31, 2025. All U.S. Bancorp regulatory ratios continue to reflect strong capital levels and exceed 'well-capitalized' requirements. The company's CET1 capital to risk-weighted assets ratio using the Basel III standardized approach was 10.8 percent as of March 31, 2025. U.S. Bancorp's planned capital actions include a 4 percent increase in its quarterly common stock dividend from $0.50 to $0.52 per share, subject to approval by U.S. Bancorp's Board of Directors, effective in the third quarter of 2025. The Company plans to continue share repurchases under the Company's existing $5 billion share repurchase program. 'The results of this year's stress test demonstrate that we are well-capitalized, have a healthy balance sheet, and remain prepared to manage potential industry stress and withstand a severe economic downturn,' said Gunjan Kedia, President and CEO of U.S. Bancorp. About U.S. Bancorp U.S. Bancorp, with approximately 70,000 employees and $676 billion in assets as of March 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World's Most Ethical Companies and one of Fortune's most admired superregional banks. To learn more, please visit the U.S. Bancorp website at and click on 'About Us.' Forward-Looking Statements This press release contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the information available to, and assumptions and estimates made by, management as of the date hereof. These forward-looking statements cover, among other things, U.S. Bancorp's SCB requirement and capital action plans. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those set forth in forward-looking statements, including changes to statutes, regulations, or regulatory policies or practices and the risks and uncertainties more fully discussed in the section entitled 'Risk Factors' of U.S. Bancorp's Form 10-K for the year ended December 31, 2024, and subsequent filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to update them in light of new information or future events.
Business Wire
6 hours ago
- Business
- Business Wire
American Express Announces 2025 Preliminary Stress Capital Buffer Requirement
NEW YORK--(BUSINESS WIRE)--American Express Company (NYSE: AXP) today announced that the Federal Reserve set the company's preliminary Stress Capital Buffer ('SCB') requirement at 2.5 percent, effective October 1, 2025 through September 30, 2026, based on the results of the 2025 Comprehensive Capital Analysis and Review process. This is the minimum SCB requirement under the applicable regulations and is consistent with American Express' previously disclosed SCB in effect through September 30, 2025. 'The results of this year's stress test once again reaffirmed our strong capital position and the earnings power of our resilient business model,' said Christophe Le Caillec, Chief Financial Officer. 'We remain focused on executing our disciplined capital allocation strategy, prioritizing investments in our business to drive sustainable long-term growth, while maintaining a strong balance sheet and returning excess capital to our shareholders.' As previously disclosed, American Express increased its quarterly dividend on common shares by 17 percent to $0.82 per share beginning with the first quarter 2025 dividend declaration, and returned $5.4 billion of capital to shareholders via share repurchases during the 12 months ended March 31, 2025. The SCB requirement is subject to final confirmation by the Federal Reserve, which is expected by August 31, 2025. ABOUT AMERICAN EXPRESS American Express (NYSE: AXP) is a global, premium payments and lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services and experiences that enrich lives and build business success. Founded in 1850 and headquartered in New York, American Express' brand is built on trust, security, and service, and a rich history of delivering innovation and Membership value for our customers. With a hundred million merchant locations on our global network in around 200 countries and territories, we seek to provide the world's best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations. For more information about American Express, visit and CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements, which are subject to risks and uncertainties, contain words such as 'expect,' 'intend,' 'plan,' 'aim,' 'will,' 'may,' 'should,' 'could,' 'would,' 'continue' and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in American Express' Annual Report on Form 10-K for the year ended December 31, 2024 and its other reports filed with the SEC. The company undertakes no obligation to update or revise any forward-looking statements. Source: American Express Company
Business Wire
6 hours ago
- Business
- Business Wire
Morgan Stanley Announces 7.5 Cents Dividend Increase and Authorization of a Renewed $20 Billion Multi-Year Common Equity Share Repurchase Program
NEW YORK--(BUSINESS WIRE)--Morgan Stanley (NYSE: MS) announced that it will increase its quarterly common stock dividend to $1.00 per share from the current $0.925 per share, beginning with the common stock dividend expected to be declared by the Firm's Board of Directors in the third quarter of 2025. In addition, the Firm's Board of Directors reauthorized a multi-year common equity share repurchase program of up to $20 billion, without a set expiration date, beginning in the third quarter of 2025. The share repurchases will be exercised from time to time at prices the Firm deems appropriate, subject to various considerations, including current market conditions, the Firm's capital position and future economic and earnings outlook. Ted Pick, Chairman and Chief Executive Officer of Morgan Stanley, said, 'Our improved stress test results reflect the strength and durability of our franchise. We have a scaled and global business that drives the Firm's financial strength, generating durable returns and supporting our ongoing flexibility to invest in our businesses and return capital to shareholders. We remain committed to consistently growing our quarterly dividend and are raising it by 7.5 cents to $1.00 per share.' On June 27, 2025, the Board of Governors of the Federal Reserve System released its CCAR 2025 results, as a result of which Morgan Stanley expects, under current regulatory standards, to be subject to a Stress Capital Buffer (SCB) of 5.1% from October 1, 2025 to September 30, 2026. Together with other features of the regulatory capital framework, this SCB results in an aggregate U.S. Basel III Standardized Approach Common Equity Tier 1 (CET1) ratio of 12.6%. The Firm's U.S. Basel III Standardized Approach CET1 ratio was 15.3% as of March 31, 2025. The Board of Governors of the Federal Reserve System has issued a proposed rulemaking that, if adopted, would change the standards by which large bank holding companies' SCBs are calculated. If relevant, the Firm will provide updated information on applicable regulatory capital standards in response to a final rulemaking, including any change in the Firm's SCB. Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit Forward-Looking Statements This Release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, which reflect management's current estimates, projections, expectations, assumptions, interpretations or beliefs of Morgan Stanley's future results, regulatory capital levels and future capital actions, including common stock dividends and common equity share repurchases, and which are subject to risks and uncertainties that may cause actual results to differ materially. Morgan Stanley does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of forward-looking statements. For a discussion of additional risks and uncertainties that may affect the future results, regulatory capital levels and future capital actions of Morgan Stanley, please see 'Forward-Looking Statements' preceding Part I, Item 1, 'Competition' and 'Supervision and Regulation' in Part I, Item 1, 'Risk Factors' in Part I, Item 1A, 'Legal Proceedings' in Part I, Item 3, 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in Part II, Item 7 and 'Quantitative and Qualitative Disclosures about Risk' in Part II, Item 7A, in Morgan Stanley's Annual Report on Form 10-K for the year ended December 31, 2024 and other items throughout the Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including any amendments thereto.
Business Wire
6 hours ago
- Business
- Business Wire
State Street Corporation Announces Planned 11% Dividend Increase and Preliminary Stress Capital Buffer Requirement
BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced its intention to increase its per share common stock dividend by 11% to $0.84 in the third quarter of 2025, subject to consideration and approval by its Board of Directors. State Street continues to be authorized to repurchase common shares under its existing share repurchase program previously approved by its Board of Directors. The Company also announced today that it had completed the Federal Reserve's 2025 Supervisory Stress Test process. State Street's calculated Stress Capital Buffer (SCB) under this year's supervisory stress test was well below the 2.5% minimum, preliminarily resulting in a continued SCB at that floor, which maintains its common equity tier 1 (CET1) ratio requirement at 8% 1. The Federal Reserve will release the firm's final SCB requirement by August 31, 2025, which will become effective on October 1, 2025, and remain in effect through September 30, 2026. The results of the firm's 2025 annual stress test, with its disclosure, are available on the Investor Relations section of its website at 'The results of the Federal Reserve's stress test reaffirm State Street's robust financial strength and our ability to support clients through a range of severely adverse economic conditions,' said Chairman and Chief Executive Officer Ron O'Hanley. 'We are pleased to once again announce a planned increase to our quarterly common dividend, enabled by our strong earnings, resilient balance sheet and continued execution of our strategy,' O'Hanley added. State Street's Board of Directors will consider the common stock dividend at a regularly scheduled board meeting in the third quarter of 2025. State Street's third quarter 2025 common stock and other stock dividends, including the declaration, timing and amount, remain subject to consideration and approval by State Street's Board of Directors at the relevant times. Stock purchases under State Street's common share repurchase program may be made using various types of transactions, including open-market purchases, accelerated share repurchases or other transactions off the market, and may be made under Rule 10b5-1 trading programs. The timing and amount of any stock purchases and the type of transaction may not be ratable over the duration of the program, may vary from reporting period to reporting period and will depend on several factors, including State Street's capital position and financial performance, investment opportunities, market conditions, the nature and timing of implementation of revisions to the Basel III framework and the amount of common stock issued as part of employee compensation programs. The common share repurchase program does not have specific price targets and may be suspended at any time. About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.7 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of March 31, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at *Assets under management as of March 31, 2025, includes approximately $106 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated. Forward Looking Statements This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about our intentions, plans and expectations regarding our quarterly common stock dividends, our share repurchase program and results of regulatory evaluations of our capital. Forward looking statements are often, but not always, identified by such forward-looking terminology as 'plan,' 'intend,' 'will,' 'project,' 'priority,' 'expect,' 'aim,' 'outcome,' 'future,' 'strategy,' 'pipeline,' 'trajectory,' 'target,' 'guidance,' 'outlook,' 'objective,' 'forecast,' 'believe,' 'anticipate,' 'estimate,' 'seek,' 'may,' 'trend,' and 'goal,' or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements. This News Release references important factors that may affect future results and outcomes. In addition to those factors, other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2024 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this News Release should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.
