The company said the Federal Reserve notified it on June 26, 2024 of a Stress Capital Buffer (SCB) of 6.4%, which sets a Standardized Common Equity Tier 1 (CET1) ratio requirement of 13.9% that will take effect on October 1, 2024.

8-KOther EventsFiled Jun 28, 2024Period of report Jun 28, 2024Summary published (UTC) Oct 29, 2026

Key points

AI summary

The company said the Federal Reserve notified it on June 26, 2024 of a Stress Capital Buffer (SCB) of 6.4%, which sets a Standardized Common Equity Tier 1 (CET1) ratio requirement of 13.9% that will take effect on October 1, 2024.
The company said the SCB increase does not appear to reflect the evolution of its business or its efforts to reduce stress loss intensity. It said it would engage with its regulator to better understand the determination.
The company said its capital plan includes raising the quarterly common stock dividend from $2.75 to $3.00 per share, starting July 1, 2024. The increase is subject to approval by its Board of Directors at the customary Q3 meeting.
The company said the final Stress Capital Buffer and capital actions, including dividends, may differ from those described in the press release, possibly materially. This is noted in the forward-looking statements disclaimer.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Stress Capital Buffer of 6.4% notified

The company said the Federal Reserve notified it on June 26, 2024 of a Stress Capital Buffer (SCB) of 6.4%, which sets a Standardized Common Equity Tier 1 (CET1) ratio requirement of 13.9% that will take effect on October 1, 2024.

Source · Based on the filing body and exhibits

Company view on SCB increase

The company said the SCB increase does not appear to reflect the evolution of its business or its efforts to reduce stress loss intensity. It said it would engage with its regulator to better understand the determination.

Source · Based on the filing body and exhibits

Plan to raise common stock dividend

The company said its capital plan includes raising the quarterly common stock dividend from $2.75 to $3.00 per share, starting July 1, 2024. The increase is subject to approval by its Board of Directors at the customary Q3 meeting.

Source · Based on the filing body and exhibits

Other disclosures

The company said the final Stress Capital Buffer and capital actions, including dividends, may differ from those described in the press release, possibly materially. This is noted in the forward-looking statements disclaimer.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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