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23.10.2017 22:10
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People's United Financial, Inc. Releases Results of 2017 Dodd-Frank Act Company-Run Stress Test
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PR Newswire
BRIDGEPORT, Conn., Oct. 23, 2017
BRIDGEPORT, Conn., Oct. 23, 2017 /PRNewswire/ -- People's United Financial, Inc. (NASDAQ: PBCT) ("People's United" or the "Company") announced today the release of its 2017 company-run stress test results. In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, People's United is required to conduct annual stress tests ("DFAST") to assess the potential effect of hypothetical economic scenarios on earnings and capital. The results of the Company's 2017 DFAST indicate that both People's United and its subsidiary, People's United Bank, National Association, will have the financial resources to successfully navigate a severe and protracted economic downturn and will maintain capital levels that exceed regulatory minimums throughout the nine-quarter planning period under the Federal Reserve's Supervisory Severely Adverse scenario.
The Company's disclosures of projected results, risks and assumptions are hypothetical and made in accordance with regulatory requirements. The stress scenario, risks and financial results do not necessarily reflect the Company's future expectations of results of operations and are not intended to be the Company's forecast of future economic or financial conditions, but rather reflect potential results under the Federal Reserve's Supervisory Severely Adverse scenario. The results can be found in the Investor Relations section of the Company's web site at www.peoples.com.
People's United Financial, Inc., a diversified financial services company with $44 billion in total assets, provides commercial and retail banking, as well as wealth management services through a network of approximately 400 branches in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine.
Access Information About People's United Financial at www.peoples.com.
View original content:http://www.prnewswire.com/news-releases/peoples-united-financial-inc-releases-results-of-2017-dodd-frank-act-company-run-stress-test-300540578.html
SOURCE People's United Financial, Inc.
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