- Santander Holdings USA, a wholly-owned subsidiary of Madrid-based Banco Santander (NYSE:SAN) on Friday said its updated SCB will be 3.5% of its Common Equity Tier 1 capital (CET1) resulting in an overall CET1 capital requirement of 8%.
- As of March 31, the company maintains $5.1B of excess CET1 capital over the 8.0% capital requirement.
- The increase in the company’s 2024 SCB from the current 7.0% requirement is a result of an increase in the Federal Reserve’s projected decline in CET1 under the severely adverse scenario, which was last updated in the 2022 cycle, and planned dividends, it said.
- Source: Press Release
2024-06-28