CLEVELAND, June 23, 2016 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that it has reported its 2016 Company-Run Stress Test Results and Process, as required by the Dodd-Frank Act, on the Regulatory Disclosures and Filings page of its website, www.key.com/ir. The disclosure includes stress test results for KeyCorp and KeyBank, but does not take into account any capital actions Key may have requested under the Federal Reserve's 2016 Comprehensive Capital Analysis and Review process ("CCAR").
Key's Company-run stress test results are not necessarily indicative of Key's performance as part of CCAR, and no positive or negative inference about Key's CCAR results (including any potential capital actions) should be drawn from these Company-run stress test results. The Federal Reserve plans to publicly release the results of CCAR on Wednesday, June 29, 2016.
The Federal Reserve's instructions for the 2016 stress tests required institutions to incorporate any proposed business plan changes in their results. Accordingly, Key's stress test results included a pro forma projection incorporating the pending acquisition of First Niagara. KeyCorp's pending acquisition of First Niagara Financial Group remains subject to regulatory approval, including approval by the Federal Reserve.
KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key has assets of approximately $98 billion.
Key provides deposit, lending, cash management and investment services to individuals, small and medium-sized businesses under the name of KeyBank National Association. 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/key-reports-2016-company-run-stress-test-results-300289657.html