BANK OF NEW YORK MELLON CORPORATION (THE)
At the same time, DBRS Morningstar confirmed the ratings of its primary banking subsidiary,
KEY RATING CONSIDERATIONS
Consistent with all trust banks, the ratings also consider the operational and reputational risks associated with the important role
RATING DRIVERS
Given
RATING RATIONALE
Franchise Combined
Earnings Combined
Risk Combined
We view
Funding and Liquidity Combined
We consider the Company's funding profile to be very strong, as deposits generated by the asset servicing and corporate trust operations provide a substantial and stable source of funds. Total deposits were up 11% from 2Q20, benefiting from high levels of liquidity in the system. On the asset side,
Capitalization Combined
Consistent since inception, the Company remained a top performer in the
Further details on the Scorecard Indicators and
ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.
Notes:
All figures are in
The principal methodology is the Global Methodology for
Other applicable methodologies include the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings (
For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.
The primary sources of information used for this rating include Company Documents and
The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.
This rating is endorsed by
Each of the principal methodologies/principal asset class methodologies employed in the analysis addressed one or more particular risks or aspects of the rating and were factored into the rating decision, Specifically, the 'Global Methodology for
The last rating action on this issuer took place on
Generally, the conditions that lead to the assignment of a Negative or Positive trend are generally resolved within a 12-month period. DBRS Morningstar's outlooks and ratings are monitored.
For further information on DBRS Morningstar historical default rates published by the
Lead Analyst:
Rating Committee Chair:
Initial Rating Date:
For more information on this credit or on this industry, visit www.dbrsmorningstar.com.
Tel. +1 212 806-3277
Ratings
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Long-Term Issuer Rating Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Long-Term Issuer Rating Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Long-Term Issuer Rating Confirmed AA Stb US
U
E
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (middle) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (middle) Stb US
U
E
06-Oct-21 Subordinated Debt Confirmed AA (low) Stb US
U
E
06-Oct-21 Preferred Stock Confirmed A Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Long-Term Issuer Rating Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Long-Term Issuer Rating Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Long-Term Issuer Rating Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
Date Issued Debt Rated Action Rating Trend Attributesi
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
06-Oct-21 Short-Term Issuer Rating Confirmed R-1 (high) Stb US
U
E
06-Oct-21 Long-Term Deposits Confirmed AA (high) Stb US
U
E
06-Oct-21 Long-Term Senior Debt Confirmed AA (high) Stb US
U
E
06-Oct-21 Short-Term Instruments Confirmed R-1 (high) Stb US
U
E
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