CCAR threatens BNY Mellon dividend payout
Fed's test "noticeably more stringent" - BNY Mellon's Santomassimo
BNY Mellon said the Federal Reserve’s 2018 round of stress tests were tougher than in prior years and that the variability of regulator-set stress scenarios from year to year threatened its capital payout ratios.
The bank completed the Fed’s Comprehensive Capital Analysis and Review (CCAR) tests earlier this month. While not disclosing the firms’ results, chief financial officer Michael Santomassimo noted that the severely adverse scenario used by the Fed this year was “noticeably more
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