Ally Financial Inc (ALLY)

[winchem21]

Ally Announces Normalization of Regulatory Capital Requirements at Ally Bank

Roll-off of $2.7 billion from Ally Bank to Ally Financial increases likelihood of high interest unsecured debt being paid off as scheduled over next several years.

https://media.ally.com/2017-08-22-Ally-Announces-Normalization-of-Regulatory-Capital-Requirements-at-Ally-Bank

Commitment to Maintain a Tier 1 Leverage Ratio of At Least 15% and Other Application Commitments Released

DETROIT, Aug. 22, 2017 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today announced that the Federal Reserve has released Ally Bank from the capital, liquidity, and business plan commitments that had been made in connection with its application for membership in the Federal Reserve System, including the commitment to maintain a Tier 1 leverage ratio of at least 15%. Ally Bank may now manage its capital and liquidity subject to applicable regulatory requirements and, as a result, is expected to distribute a dividend of approximately $2.9 billion to Ally Financial Inc. during the third quarter of 2017.
"The release of these application commitments is a significant milestone for the company," said Ally Chief Executive Officer Jeffrey J. Brown. "This development completes the process of normalizing our regulatory framework, allowing us to optimize our capital and funding structure on a level playing field with other banks, and is a critical step in ensuring we remain on track for delivering on our financial and strategic objectives."