Seeking Alpha

Zions Bancorp to resubmit capital plan

  • After a review of the Fed's stress test publication (in which it showed the details of its exam), the bank says results were worse than it had expected thanks to: 1) Significantly higher commercial real estate losses 2) Significantly greater risk-weighted assets, and 3) Lower pre-tax, pre-provision net revenue.
  • Zions again notes its original submission to the Fed occurred prior to its sale of certain CDOs in January and February, with said sales resulting in a substantial reduction in risk.
  • The bank expects its resubmission will result in it having equity capital sufficient to meet or exceed minimum ratios set by the Fed under its severely adverse scenario.
  • ZION -1.3% premarket
  • Press release
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs