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MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of New York Mellon (The)    BK

BANK OF NEW YORK MELLON (THE)

(BK)
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Bank of New York Mellon : June 2019

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08/12/2019 | 03:52pm EDT

THE BANK OF NEW YORK MELLON

CORPORATION

Pillar 3

Disclosure

June 30, 2019

THE BANK OF NEW YORK MELLON CORPORATION

Pillar 3 Disclosure

June 30, 2019

Table of Contents

Page

Disclosure Road Map

2

Introduction

3

Scope of Application

4

Capital Structure

6

Capital Adequacy

7

Capital Conservation and Countercyclical Capital Buffers

8

Credit Risk: General Disclosures

8

Credit Risk: Disclosures for Portfolios Subject to IRB Risk-based Capital Formulas

12

Counterparty Credit Risk for Derivative Contracts, Repo-style Transactions and Eligible Margin Loans

16

Credit Risk Mitigation

21

Securitization Exposures

24

Operational Risk

26

Equities Not Subject to Market Risk Rule

27

Market Risk

29

Interest Rate Risk for Non-trading Activities

32

Supplementary Leverage Ratio

32

Forward-looking Statements

34

Acronyms

35

Glossary

36

The Bank of New York Mellon Corporation

Pillar 3 Disclosure

Disclosure Road Map

The table below shows where disclosures relating to topics addressed in this Pillar 3 Disclosure can be found in The Bank of New York Mellon Corporation's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019 (the "Form 10-Q") and the Annual Report on Form 10-K for the year ended Dec. 31, 2018 (the "2018 Annual Report").

2nd Quarter 2019

2018

Form 10-Q

Annual Report

Pillar 3 Section

Disclosure Topic

Page Reference(s)

Introduction

Capital Requirements - Existing U.S. Requirements

Annual Only

63

Advanced Approaches Risk-Based Capital Rules

Annual Only

64

Consolidation and Variable Interest Entities

72-73

127-128,157-158

Scope of Application

Restrictions on Transfer of Capital:

Payment of Dividends

31

42, 171-172

Capital Planning

Annual Only

61-62

Capital Structure

Capital Components

35

161

Preferred Stock

73-74

158-160

Capital Adequacy

Capital Planning and Stress Testing

Annual Only

58, 61-62

Basel III Ratios - Advanced Approaches

34

46

Capital Conservation and

Buffers Overview

Annual Only

48

Countercyclical Capital Buffers

Capital Ratio Minimums and Buffers

34-36

48-49

Governance

Annual Only

54

Primary Risk Types

Annual Only

54

Credit Risk Management

Annual Only

56-57

Credit Risk: General Disclosures

Past Due/Nonaccrual/Impaired Loans Policies

Annual Only

130-132

Allowance for Loan Losses and Allowance for

26-27

24-25, 36, 130-132

Lending-related Commitments

Impaired, Past Due and Nonaccrual Loans

61-62

147-148

Allowance for Credit Loss Activity

59-60

146-147

Credit Risk: Disclosures for

Portfolios Subject to IRB Risk-based

Capital Formulas

Net Recoveries (Charge-offs)

26, 59-60

N/A

Counterparty Credit Risk for

Credit Limits

86

191

Credit Valuation Adjustment

38

51-52

Derivative Contracts, Repo-style

Transactions and Eligible Margin

Disclosure of contingent features in OTC derivative

86

191-192

Loans

instruments

Securities Lending Transactions

88-90

184-185

Risk Factors: Operational Risk

Annual Only

78-80

Operational Risk

Overview

Annual Only

54

Operational Risk Management

Annual Only

55-56

Market Risk

Trading Activities and Risk Management

36-38

50-52

Market Risk

Annual Only

56

Interest Rate Risk for Non-trading

Asset/Liability Management

39

52-53

Estimated Changes in Net Interest Revenue

39

52

Activities

Estimated Changes in EVE

Annual Only

53

Supplementary Leverage Ratio

Supplementary Leverage Ratio

34-35

46-48

2 BNY Mellon

The Bank of New York Mellon Corporation

Pillar 3 Disclosure

Introduction

In this Pillar 3 Disclosure (this "Disclosure"), references to "our," "we," "us," "BNY Mellon," the "Company" and similar terms refer to The Bank of New York Mellon Corporation and its consolidated subsidiaries. References in this Disclosure to "Parent" or the "Holding Company" refer to The Bank of New York Mellon Corporation on a standalone basis.

Certain business terms and commonly used acronyms used in this Disclosure are defined in the Glossary and Acronyms sections of this Disclosure.

Investors should also read the section titled "Forward-looking Statements."

Established in 1784 by Alexander Hamilton, we were the first company listed on the New York Stock Exchange (NYSE: BK). With a more than 230-year history, BNY Mellon is a global company that manages and services assets for financial institutions, corporations and individual investors in 35 countries.

Basis of Presentation

The accounting and financial reporting policies of BNY Mellon, a global financial services company, conform to U.S. generally accepted accounting principles ("GAAP") and prevailing industry practices.

There are no differences in the basis of consolidation between BNY Mellon's Annual Report on Form 10-K and Quarterly Report on Form 10-Q ("SEC Reports") as filed with the Securities and Exchange Commission (the "SEC") and this Disclosure.

This Disclosure illustrates BNY Mellon's assets both in terms of credit exposure and risk-weighted assets ("RWA"). For the purposes of this Disclosure, credit exposure is defined as the estimate of the amount at risk in the event of a default (before any recoveries). This estimate takes into account certain contractual commitments related to undrawn lines of credit, and is referred to as Exposure at Default ("EAD"). In contrast, the assets on BNY Mellon's balance sheet, as published in our SEC Reports, are reported as the carrying value only. Therefore, exposure values in this Disclosure can differ from asset values as reported in our SEC Reports.

Capital Guidelines

Capital Requirements

As a bank holding company ("BHC"), we are subject to consolidated regulatory capital rules administered by the Board of Governors of the Federal Reserve System (the "Federal Reserve"). Our bank subsidiaries are subject to similar capital requirements administered by the Federal Reserve in the case of The Bank of New York Mellon and by the Office of the Comptroller of the Currency ("OCC") in the case of our largest national bank subsidiaries, BNY Mellon, N.A. and The Bank of New York Mellon Trust Company, National Association. These requirements (the "U.S. capital rules") are intended to ensure that banking organizations have adequate capital given the risk levels of their assets and off- balance sheet financial exposures.

For further discussion of the regulatory capital framework and additional regulatory matters relevant to the Company, see "Supervision and Regulation" in our 2018 Annual Report.

Pillar 3 Disclosure

The U.S. federal banking agencies have included within the U.S. capital rules public disclosure requirements, with an express objective of improving market discipline and encouraging sound risk- management practices.

The U.S. banking agencies require Pillar 3 disclosures at the holding company level for each calendar quarter. Separate and complete Pillar 3 disclosures are not required for consolidated subsidiaries of Advanced Approaches banking organizations, even if those subsidiaries themselves are Advanced Approaches banking organizations. A separate Pillar 3 disclosure therefore has not been prepared for any of our consolidated subsidiaries. Nevertheless, this Disclosure describes risk management policies and procedures, risk weighting methodologies, accounting policies and financial results, among other items, that apply to or encompass our consolidated subsidiaries. In addition, the U.S. banking agencies permit certain Pillar 3 Disclosure requirements to be satisfied by reference to the SEC Reports. Therefore, in certain cases, BNY Mellon makes reference to the SEC Reports in this Disclosure.

BNY Mellon 3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

The Bank of New York Mellon Corporation published this content on 12 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2019 19:51:09 UTC

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Financials (USD)
Sales 2019 15 669 M
EBIT 2019 4 758 M
Net income 2019 3 701 M
Debt 2019 32 564 M
Yield 2019 2,48%
P/E ratio 2019 12,0x
P/E ratio 2020 11,3x
EV / Sales2019 4,90x
EV / Sales2020 4,87x
Capitalization 44 286 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 47,02  $
Last Close Price 46,98  $
Spread / Highest target 21,3%
Spread / Average Target 0,09%
Spread / Lowest Target -10,6%
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NameTitle
Charles William Scharf Chairman & Chief Executive Officer
Lester J. Owens Head-Operations & Senior Executive VP
Michael Santomassimo Chief Financial Officer
Bridget E. Engle Chief Information Officer & Senior Executive VP
Sabet Elias Chief Technology Officer
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