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This excerpt taken from the PNC 10-K filed Feb 29, 2008. Regulatory Capital
NM—Not meaningful. The principal source of parent company cash flow is the dividends it receives from PNC Bank, N.A., which may be impacted by the following:
Also, there are statutory and regulatory limitations on the ability of national banks to pay dividends or make other capital distributions. The amount available for dividend payments to the parent company by PNC Bank, N.A. without prior regulatory approval was approximately $655 million at December 31, 2007. Under federal law, bank subsidiaries generally may not extend credit to the parent company or its non-bank subsidiaries on terms and under circumstances that are not substantially the same as comparable extensions of credit to nonaffiliates. No extension of credit may be made to the parent company or a non-bank subsidiary which is in excess of 10% of the capital stock and surplus of such bank subsidiary or in excess of 20% of the capital and surplus of such bank subsidiary as to aggregate extensions of credit to the parent company and its non-bank subsidiaries. Such extensions of credit, with limited exceptions, must be fully collateralized by certain specified assets. In certain circumstances, federal regulatory authorities may impose more restrictive limitations. Federal Reserve Board regulations require depository institutions to maintain cash reserves with the Federal Reserve Bank (“FRB”). At December 31, 2007, the balance outstanding at the FRB was $74 million. This excerpt taken from the PNC 10-K filed Feb 4, 2008. Regulatory Capital
NM - Not Meaningful The principal source of parent company cash flow is the dividends it receives from PNC Bank, N.A., which may be impacted by the following:
This excerpt taken from the PNC 10-K filed Mar 1, 2007. Regulatory Capital
NM - Not Meaningful The principal source of parent company cash flow is the dividends it receives from PNC Bank, N.A., which may be impacted by the following:
Also, there are statutory and regulatory limitations on the ability of national banks to pay dividends or make other capital distributions. The amount available for dividend payments to the parent company by PNC Bank, N.A. without prior regulatory approval was approximately $625 million at December 31, 2006. Under federal law, bank subsidiaries generally may not extend credit to the parent company or its non-bank subsidiaries on terms and under circumstances that are not substantially the same as comparable extensions of credit to nonaffiliates. No extension of credit may be made to the parent company or a non-bank subsidiary which is in excess of 10% of the capital stock and surplus of such bank subsidiary or in excess of 20% of the capital and surplus of such bank subsidiary as to aggregate extensions of credit to the parent company and its non-bank subsidiaries. Such extensions of credit, with limited exceptions, must be fully collateralized by certain specified assets. In certain circumstances, federal regulatory authorities may impose more restrictive limitations. Federal Reserve Board regulations require depository institutions to maintain cash reserves with the Federal Reserve Bank (“FRB”). During 2006, subsidiary banks maintained reserves which averaged $203 million. | EXCERPTS ON THIS PAGE:
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