Statement on Dodd-Frank Act Stress Test (“DFAST”) Results

NEW YORK, NY – June 21, 2018 – Our models and the Federal Reserve’s models diverge, which we expect to discuss with the Federal Reserve. We are examining that divergence and will provide more specificity around our planned capital return after the release of next week’s CCAR results. Therefore, the DFAST ratios that are published today may not represent our firm’s actual capital return capacity, which may be higher than this year’s test would otherwise indicate.