Santander Holdings USA's 2024 SCB set at 3.5%, total CET1 requirement rises to 8.0% effective Oct 1

Santander Holdings USA, Inc.

Federal Reserve set SHUSA's 2024 stress capital buffer at 3.5% of CET1, up from 2.5% in prior cycle.
Overall CET1 capital requirement increases to 8.0% from 7.0%, effective October 1, 2024.
As of March 31, 2024, SHUSA held $5.1 billion in excess CET1 over the new 8.0% requirement.
SHUSA remained in the top half of firms subject to the 2024 Supervisory Stress Test by CET1 ratio.

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