CLEVELAND, June 30, 2020
/PRNewswire/ -- KeyCorp (NYSE: KEY) announced today its
preliminary Stress Capital Buffer requirement provided by the
Federal Reserve as part of the 2020 Federal Reserve Capital Stress
Testing exercise. The preliminary buffer is 2.5% and represents the
minimum buffer required for banks the size of Key. The final Stress
Capital Buffer for KeyCorp will be released by the Federal Reserve
before it takes effect in the fourth quarter.
Commenting on the results from the Federal Reserve, Chris Gorman, Chairman and CEO of KeyCorp,
stated, "We remain committed to maintaining our moderate risk
profile and being disciplined in the way we manage our capital. Our
strong balance sheet, liquidity, and capital positions our company
to weather adverse economic scenarios, while continuing to support
our clients, invest in our business, and provide returns for our
shareholders. Our capital plans would include maintaining our
common stock dividend for the third quarter of 2020, at the same
level as the second quarter of 2020, subject to approval from our
Board of Directors."
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $156.2
billion at March 31, 2020. Key
provides deposit, lending, cash management, and investment services
to individuals and businesses in 15 states under the name KeyBank
National Association through a network of over 1,000 branches and
approximately 1,400 ATMs. Key also provides a broad range of
sophisticated corporate and investment banking products, such as
merger and acquisition advice, public and private debt and equity,
syndications, and derivatives to middle market companies in
selected industries throughout the United
States under the KeyBanc Capital Markets trade name. For
more information, visit https://www.key.com/. KeyBank is Member
FDIC.
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SOURCE KeyCorp