Fifth Third Bank 2012 Annual Report Download - page 36
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
34 Fifth Third Bancorp
adverse judgments, settlements, fines, penalties, injunctions or other
relief. Like other large financial institutions and companies, Fifth
Third is also subject to risk from potential employee misconduct,
including non-compliance with policies and improper use or
disclosure of confidential information. Substantial legal liability or
significant regulatory action against Fifth Third could materially
adversely affect its business, financial condition or results of
operations and/or cause significant reputational harm to its
business.
Fifth Third’s ability to pay or increase dividends on its
common stock or to repurchase its capital stock is restricted.
Fifth Third’s ability to pay dividends or repurchase stock is subject
to regulatory requirements and the need to meet regulatory
expectations. The FRB launched the 2013 stress testing program
and CCAR on November 9, 2012. The CCAR requires bank holding
companies to submit a capital plan in addition to their stress testing
results. The mandatory elements of the capital plan are an
assessment of the expected use and sources of capital over the
planning horizon, a description of all planned capital actions over
the planning horizon, a discussion of any expected changes to the
Bancorp’s business plan that are likely to have a material impact on
its capital adequacy or liquidity, a detailed description of the
Bancorp’s process for assessing capital adequacy and the Bancorp’s
capital policy. The stress testing results and capital plan were
submitted to the FRB on January 7, 2013.
The FRB’s review of the capital plan will assess the
comprehensiveness of the capital plan, the reasonableness of the
assumptions and the analysis underlying the capital plan.
Additionally, the FRB will review the robustness of the capital
adequacy process, the capital policy and the Bancorp’s ability to
maintain capital above the minimum regulatory capital ratios and
above a Tier 1 common ratio of 5 percent on a pro forma basis
under expected and stressful conditions throughout the planning
horizon. The FRB will also assess the Bancorp’s strategies for
addressing proposed revisions to the regulatory capital framework
agreed upon by the Basel Committee on Banking Supervision and
requirements arising from the Dodd-Frank Act.