Fifth Third Bank 2013 Annual Report Download - page 181
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179 Fifth Third Bancorp
(iii) a minimum ratio of total capital (that is, Tier 1 plus Tier 2
capital) to risk-weighted assets of at least 8.0%, plus the capital
conservation buffer (which is added to the 8.0% total capital ratio
as that buffer is phased-in, effectively resulting in a minimum
total capital ratio of 10.5% upon full implementation) and (iv) as
a newly adopted international standard, a minimum leverage ratio
of 4.0%, calculated as the ratio of Tier 1 capital to adjusted
average consolidated assets for large internationally active banks.
The Final Capital Rules also provide for a “countercyclical
capital buffer” designed to absorb losses during periods of
economic stress. Banking institutions with a ratio of CET1 to
risk-weighted assets above the minimum but below the
conservation buffer will face limitations on the payment of
dividends, common stock repurchases and discretionary cash
payments to executive officers based on the amount of the
shortfall.
The Final Capital Rules provide for a number of deductions
from and adjustments to CET1. These include, for example, the
requirement that mortgage servicing rights, deferred tax assets
dependent upon future taxable income and significant investments
in non-consolidated financial entities be deducted from CET1 to
the extent that any one such category exceeds 10% of CET1 or all
such categories in the aggregate exceed 15% of CET1. Under
current capital standards, the effects of accumulated other
comprehensive income items included in capital are excluded for
the purposes of determining regulatory capital ratios. Under the
Final Capital Rules, Bancorp has a one-time election (the “Opt-
out Election”) to filter certain accumulated other comprehensive
income (“AOCI”) components, comparable to the treatment under
the current general risk-based capital rule.
The new capital rules are effective for the Bancorp on
January 1, 2015, subject to phase-in periods for certain of their
components and other provisions. The Bancorp is in the process
of evaluating the final rules and their potential impact.