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Bank of New York Mellon Corp BK

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Extra Midcycle Stress Test Results Are Released, Show Banks Handling a Double-Dip Recession

Eric Compton, CFA Senior Equity Analyst

Analyst Note

| Eric Compton, CFA |

The Federal Reserve has released the results from its second round of stress tests. As a quick reminder, the Fed released the results of a first round of tests in June as part of its normal schedule. However, as part of that process, because of the uniqueness of the economic situation during the pandemic, the Fed announced that it would perform an additional round of testing later in the year as a sort of double check to make sure the banking system had remained resilient as the pandemic developed. Based on the initial results from the first round of testing, and based on the updated scenarios that were later released, we didn’t expect this second round of tests to result in any additional capital restrictions for the banks covered and we expected all of the banks to pass. With the results now released, our initial predictions have been confirmed.

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Company Profile

Business Description

BNY Mellon is a global investment company involved in the management and servicing of financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors, and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with about $38.6 trillion in under custody and administration (as of Sept. 30, 2020), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investment. BNY Mellon's asset management division manages over $2.0 trillion in assets.

240 Greenwich Street
New York, NY, 10286
T +1 212 495-1784
Sector Financial Services
Industry Asset Management
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type High Yield
Employees 48,600