PNC Announces Stress Capital Buffer (SCB) and Planned Capital Actions – Notice Today Online

PITTSBURGH, June 28, 2024 /PRNewswire/ — The PNC Financial Services Group, Inc. (NYSE: PNC) this hebdomad conventional the results of the agent Reserve’s 2024 Comprehensive Capital Analysis and Review (CCAR). The agent Reserve’s CCAR revealing included its judge of PNC’s peak top ratios for the punctuation from the prototypal lodge of 2024 finished the prototypal lodge of 2026 low the theoretic Supervisory Severely Adverse scenario. Based on PNC’s brawny results, PNC’s premeditated Stress Capital Buffer (SCB) for the four-quarter punctuation first Oct. 1, 2024 is 2.2%, which is beneath the restrictive peak SCB amount, resulting in an SCB of 2.5%. This is conformable with PNC’s SCB in gist finished Sept. 30, 2024. PNC’s Common Equity Tier 1 (CET1) ratio of 10.1% as reportable for March 31, 2024 significantly exceeds the restrictive peak nonnegative our SCB (7.0%), reflecting our brawny top levels. Furthermore, low the agent Reserve’s projections in the 2024 Supervisory Severely Adverse scenario, PNC’s post-stress top ratios are sticking to rest substantially above restrictive minimums, with our peak and success CET1 ratios both sticking to be 8.3%, compared to the restrictive peak of 4.5%.

PNC plans to propose to its commission of directors an process in the quarterly change dividend on ordinary have of 5 cents per share, or 3%, to $1.60 per deal in the ordinal lodge of 2024, conformable with the underway top organisation authorised by its board. PNC’s commission of directors is due to study this congratulations at its incoming regular gathering on July 2, 2024.

Consistent with the SCB framework, which allows for top returns in amounts in immoderateness of the SCB peak levels, our commission of directors has commissioned a purchase support low the previously authorised purchase aggregation of up to 100 meg ordinary shares, of which roughly 44% were ease acquirable for purchase at March 31, 2024. Share purchase state in the ordinal lodge 2024 is due to be conformable with past quarterly deal purchase levels.  PNC continues to appraise and haw change deal purchase activity, as actualised amounts and timing are interdependent on mart and scheme conditions as substantially as another factors. PNC’s ordinary deal repurchases haw be executed in privately negotiated transactions or finished the unstoppered market, including low Rule 10b5-1 plans.

The PNC Financial Services Group, Inc. is digit of the maximal heterogeneous playing services institutions in the United States, designed around its customers and communities for brawny relationships and topical conveying of retail and playing banking including a flooded arrange of disposition products; special services for corporations and polity entities, including joint banking, actual realty direction and asset-based lending; riches direction and quality management. For aggregation most PNC, meet www.pnc.com.

CONTACTS

MEDIA:
Timothy Miller
(412) 762-4550
media.relations@pnc.com        

INVESTORS:
Bryan Gill
(412) 768-4143
investor.relations@pnc.com

SOURCE The PNC Financial Services Group, Inc.