Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 225

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 225
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At September 30, 2025, CFG’s Tier 1 leverage ratio was stable and CBNA’s Tier 1 leverage ratio increased compared to December 31, 2024, reflecting an increase in quarterly adjusted average assets and their respective changes in Tier 1 capital described above.

Citizens Financial Group, Inc. | 30

The following table presents the components of our regulatory capital under the U.S. Basel III capital framework:

Table 21: Capital Composition Under the U.S. Basel III Capital Framework(dollars in millions)September 30, 2025December 31, 2024Total common stockholders' equity$23,718 $22,141 Exclusions:Modified CECL transitional amount— 96 Net unrealized (gains)/losses recorded in AOCI, net of tax:Debt securities1,760 2,369 Derivatives213 925 Unamortized net periodic benefit costs294 301 Deductions:Goodwill, net of deferred tax liability(7,762)(7,768)Other intangible assets, net of deferred tax liability(110)(128)Deferred tax assets that arise from tax loss and credit carryforwards(67)(36)Total CET1 capital18,046 17,900 Qualifying preferred stock 2,111 2,113 Total Tier 1 capital20,157 20,013 Qualifying subordinated debt(1)1,237 1,232 Allowance for credit losses2,201 2,259 Exclusions from Tier 2 capital:Modified AACL transitional amount— (125)Allowance on PCD assets(140)(147)Adjusted allowance for credit losses2,061 1,987     Total capital$23,455 $23,232 

(1) As of September 30, 2025 and December 31, 2024, the amount of non-qualifying subordinated debt excluded from regulatory capital was $336 million and $469 million, respectively. See Note 7 for more details on our outstanding subordinated debt.

Capital Transactions

We completed the following capital transactions during the nine months ended September 30, 2025:

•Repurchased $475 million of our outstanding common stock;

•Issued 400,000 shares of 6.500% fixed-rate reset non-cumulative perpetual Series I Preferred Stock at an aggregate offering price of $400 million;

•Issued a notice