Stress Test Confirms Capital Strength at First Horizon, First Tennessee
October 17 2016 - 4:30PM
The 2016 Dodd-Frank Act stress test shows First Horizon National
Corp. (NYSE:FHN) and its First Tennessee regional bank would
maintain capital well in excess of regulatory “adequate” levels
under severely adverse economic and financial conditions. The
annual stress tests, which are designed to ensure banks would have
enough capital to operate in economically challenging times, are
required of national banks and federal savings associations with
assets of at least $10 billion.
The tests measure capital levels, as required by the regulatory
agencies noted below, in the face of hypothetical “severely
adverse” events specified by regulators including a
greater-than-50-percent drop in the U.S. stock market, a
greater-than-25-percent drop in U.S. real estate values, a
significant and rapid contraction of the U.S. economy, a 10 percent
unemployment rate and negative interest rates on short-term
Treasury notes.
In July First Horizon submitted results of its annual Dodd-Frank
Act Stress Test, commonly known as DFAST, to the Office of the
Comptroller of the Currency and the Board of Governors of the
Federal Reserve System. A summary of the results is available in
the investor relations news and events section of the company’s
website at www.FirstHorizon.com.
About First HorizonThe 4,300 employees of First
Horizon National Corp. (NYSE:FHN) provide financial services
through more than 160 bank locations across Tennessee and the
southern U.S. and 29 FTN Financial offices across the U.S. The
company was founded during the Civil War in 1864 and has the 14th
oldest national bank charter in the country. First Tennessee has
the largest deposit market share in Tennessee and one of the
highest customer retention rates of any bank in the country. FTN
Financial is a capital markets industry leader in fixed income
sales, trading and strategies for institutional customers in the
U.S. and abroad. First Horizon has been recognized as one of the
nation's best employers by Working Mother and American Banker. More
information is available at www.FirstHorizon.com.
FHN-G
Contact:
Media Relations, James Dowd (901) 523-4305
Investor Relations, Aarti Bowman, (901) 523-4017
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