BOSTON–(BUSINESS WIRE)–Santander Holdings USA, Inc. (“SHUSA” or the “Company”) has commented on the results of the Federal Reserve’s 2022 prudential stress tests.
Based on the results of SHUSA’s 2022 Prudential Stress Test, the company’s minimum capital ratios under the Federal Reserve Board’s (“FRB”) Extremely Adverse Scenario ranked in the top quartile among banks participants. In addition, the Company will be subject to the FRB’s Stressed Capital Buffer, which is expected to be finalized for all companies in August 2022. As of March 31, 2022, SHUSA’s CET1 ratio was 18.5%, well above its requirement current regulations on CET1.
SHUSA believes that the stress test results demonstrate its resilience and the strength of its business model and capital position. The results indicate that SHUSA can remain well capitalized during periods of high market stress. The Company’s robust capital planning process is designed to ensure the efficient use of capital while maintaining a long-term approach to capital allocation and distribution.
The timing and amount of any capital action will depend on a variety of factors, including the business plans and financial performance of the Company and its subsidiaries, general market and economic conditions, and are subject to all regulatory requirements. applicable and to the approval of the Company’s Board of Directors. Board of Directors.
About Santander Holdings USA, Inc.
Santander Holdings USA, Inc. is a wholly owned subsidiary of Madrid-based Banco Santander, SA (NYSE: SAN) (Santander), a global banking group with 155 million customers in the United States, Europe and Latin America . As an intermediate holding company for Santander’s U.S. operations, SHUSA is the parent organization of financial companies with approximately 14,600 employees, approximately 5 million customers and $160 billion as of December 2021. These include Santander Bank , NA, Santander Consumer USA Holdings Inc., Banco Santander International, Santander Securities LLC, Santander Investment Securities Inc. and several other subsidiaries. Santander US is recognized as a top 10 auto lender, top 10 multi-family lender, and top 20 commercial real estate lender, and has a growing wealth management business with over $41 billion. dollars of assets under management. For more information about Santander US, please visit www.santanderus.com.