PNC releases results of annual Dodd-Frank company run stress test.
M2 EQUITYBITES-June 27, 2016-PNC releases results of annual Dodd-Frank company run stress test
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PNC Financial Services Group, Inc. (NYSE: PNC) has released the results of its annual 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, the company said.
These company run stress tests are designed to help assess whether financial institutions 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 2016 test covers January 1, 2016 to March 31, 2018.
The supervisory severely adverse scenario provided by the Federal Reserve and OCC for the 2016 annual company run stress test assumes a severe global recession, accompanied by a period of heightened corporate financial stress and negative yields for short-term US Treasury securities.
PNC Financial Services Group, Inc. is a large diversified financial services institutions in the United States, delivering retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
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