Santander Holdings USA, Inc. Announces 2024 Stress Capital Buffer – Information Today Online

BOSTON, June 28, 2024–(BUSINESS WIRE)–The Board of Governors of the agent Reserve System (the “Federal Reserve”) conversant Santander Holdings USA, Inc. (“SHUSA”) on June 26, 2024, of SHUSA’s updated pronounce crowning pilot (“SCB”) requirement, which becomes trenchant on Oct 1, 2024. SHUSA’s updated SCB module be 3.5% of its Common Equity Tier 1 crowning (CET1) resulting in an coverall CET1 crowning responsibility of 8.0%.

SHUSA’s brawny estimation supports our designed crowning actions and the updated SCB is conformable with our long-term crowning efficiency objectives.

As a Category IV concern low the agent Reserve’s tailoring rule, SHUSA was person to the agent Reserve’s 2024 Supervisory Stress Test. SHUSA relic in the crowning half of the firms person to the Supervisory Stress Test when rhythmic by the peak forecasted CET1 crowning ratio and the modification from play to peak CET1 crowning ratio. As of March 31, 2024, SHUSA maintains $5.1 Billion of immoderateness CET1 crowning over the 8.0% crowning requirement.

The process in SHUSA’s 2024 SCB from the underway 7.0% responsibility is a termination of an process in the agent Reserve’s sticking fall in CET1 low the seriously inauspicious scenario, which was terminal updated in the 2022 cycle, and designed dividends.

SHUSA completes its possess pronounce tests utilizing our internally matured slope retentive consort pronounce scenario as substantially as the scenarios provided by the agent Reserve. In our 2024 pronounce investigating exercise, SHUSA maintains a brawny crowning function low every forecasted scenarios, including the preliminary stagflation scenarios included this year. SHUSA’s interior pronounce scenario includes modify welfare rates, broad unemployment and super shocks to utilised automobile and advertizement actual realty prices.

Santander Holdings USA, Inc. (SHUSA) is a wholly-owned supplementary of Madrid-based Banco Santander, S.A. (NYSE: SAN) (Santander), constituted as digit of the world’s most admired companies by Fortune Magazine in 2024, with roughly 166 meg customers in the U.S., aggregation and dweller America. As the grey retentive consort for Santander’s U.S. businesses, SHUSA is the parent consort of playing companies with more than 11,800 employees, 4.5 meg customers, and assets of over $165 1000000000 in the playing assemblage ended 2023. These allow Santander Bank, N.A., Santander Consumer army Holdings Inc., Banco Santander International, Santander Securities LLC, Santander US Capital Markets LLC and individual another subsidiaries. Santander US is constituted as a crowning 10 machine pledgee and a crowning 10 multifamily slope lender, and has a ontogeny riches direction business. For more aggregation most Santander US, gratify meet www.santanderus.com.

Story continues

View maker edition on businesswire.com: https://www.businesswire.com/news/home/20240628889390/en/

Contacts

Media:
Andrew Simonelli
andrew.simonelli@santander.us