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BNY Mellon Statement on the Results of the Second Round of 2020 Stress Tests
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NEW YORK, Dec. 18, 2020 /PRNewswire/ On December 18, 2020, the Federal Reserve released the results of the second round of bank holding company stress tests during 2020, further demonstrating the resiliency and strength of BNY Mellon s business model and capital position in times of stress. The restriction on open market common share repurchases applicable to BNY Mellon during the third and fourth quarters of 2020 will be modified for the first quarter of 2021.
During the first quarter, BNY Mellon expects to maintain its common stock dividend (subject to the approval of the board of directors) and resume open market repurchases in an amount up to that consistent with the modified distribution limitations.