Item 8.01 Other Events.

On June 29, 2020, U.S. Bancorp announced that it received its preliminary 2020 Stress Capital Buffer ("SCB") from the Board of Governors of the Federal Reserve System ("FRB") based on the results of the 2020 Dodd-Frank Act stress tests and related Comprehensive Capital Analysis and Review. U.S. Bancorp will be subject to a preliminary SCB of 2.5% for the period beginning October 1, 2020, and ending on September 30, 2021. U.S. Bancorp also announced that management expects to recommend to the board of directors that U.S. Bancorp maintain its current quarterly common dividend of $0.42 per common share. The FRB announced that it will require all large banks to preserve capital through suspension of their share repurchase programs. The company will continue to monitor the impact of COVID-19 on the economic environment and adjust its capital distributions as circumstances warrant, consistent with regulatory requirements. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated into this Item 8.01 by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.




  99.1        Press release dated June 29, 2020

  104       Cover Page Interactive Data File (embedded within the Inline XBRL document)


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