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M&T projects $3.2B loan losses in midcycle stress test's severely adverse scenario

Buffalo,N.Y.-based M&T BankCorp. on Oct. 6 reported the results of its Dodd-Frank Act midcyclecompany-run stress test.

The resultscover the time period of July 1, 2016, through Sept. 30, 2018, for the companyunder a hypothetical severely adverse economic scenario.

Under sucha scenario, the company's minimum common equity Tier 1 ratio was 9.4%, itsminimum Tier 1 capital ratio was 10.8%, its minimum total risk-based capitalratio was 13.0% and its minimum Tier 1 leverage ratio was 9.3%.

The companyprojected that cumulative pre-provision net revenue would total $2.6 billionover the course of the nine quarters, resulting in a net loss of $1.4 billion,before taxes.

Total loanlosses under the scenario were estimated at $3.2 billion, with domesticcommercial real estate loans accounting for the biggest chunk of losses at $1.4billion.