CITIZENS FINANCIAL GROUP INCRI
For the period ended Mar 31, 2024. Filed May 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
CFG$65.10+2.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Glossary of Acronyms and Terms
The following is a list of common acronyms and terms used regularly in our financial reporting:
| AACL | Adjusted Allowance for Credit Losses |
|---|---|
| ACL | Allowance for Credit Losses: Allowance for Loan and Lease Losses plus Allowance for Unfunded Lending Commitments |
| AFS | Available for Sale |
| ALM | Asset and Liability Management |
| AOCI | Accumulated Other Comprehensive Income (Loss) |
| ASU | Accounting Standards Update |
| ATM | Automated Teller Machine |
| Board or Board of Directors | The Board of Directors of Citizens Financial Group, Inc. |
| bps | Basis Points |
| CBNA | Citizens Bank, National Association |
| CCAR | Comprehensive Capital Analysis and Review |
| CCB | Capital Conservation Buffer |
| CECL | Current Expected Credit Losses (ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments) |
| CET1 | Common Equity Tier 1 |
| CET1 capital ratio | Common Equity Tier 1 capital divided by total risk-weighted assets as defined under the U.S. Basel III Standardized approach |
| Citizens, CFG, the Company, we, us, or our | Citizens Financial Group, Inc. and its Subsidiaries |
| CLTV | Combined Loan-to-Value |
| COVID | Coronavirus Disease |
| CRE | Commercial Real Estate |
| EPS | Earnings Per Share |
| EVE | Economic Value of Equity |
| Exchange Act | The Securities Exchange Act of 1934, as amended |
| Fannie Mae (FNMA) | Federal National Mortgage Association |
| FDIC | Federal Deposit Insurance Corporation |
| FDM | Financially Distressed Modification |
| FHA | Federal Housing Administration |
| FHLB | Federal Home Loan Bank |
| FICO | Fair Isaac Corporation (credit rating) |
| FRB or Federal Reserve | Board of Governors of the Federal Reserve System and, as applicable, Federal Reserve Bank(s) |
| Freddie Mac (FHLMC) | Federal Home Loan Mortgage Corporation |
| FTE | Fully Taxable Equivalent |
| FTP | Funds Transfer Pricing |
| GAAP | Accounting Principles Generally Accepted in the United States of America |
| GDP | Gross Domestic Product |
| Ginnie Mae (GNMA) | Government National Mortgage Association |
| GSE | Government Sponsored Entity |
| HTM | Held To Maturity |
| Investors | Investors Bancorp, Inc. and its subsidiaries |
| JMP | JMP Group LLC |
| LHFS | Loans Held for Sale |
| LIHTC | Low Income Housing Tax Credit |
| M&A | Merger and Acquisition |
| MD&A | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---|---|
| Mid-Atlantic | District of Columbia, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, and West Virginia |
| Midwest | Illinois, Indiana, Michigan, and Ohio |
| Modified AACL transition | The Day-1 CECL adoption entry booked to ACL plus 25% of subsequent CECL ACL reserve build |
| Modified CECL transition | The Day-1 CECL adoption entry booked to retained earnings plus 25% of subsequent CECL ACL reserve build |
| MSRs | Mortgage Servicing Rights |
| New England | Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont |
| NMTC | New Markets Tax Credit |
| OCC | Office of the Comptroller of the Currency |
| OCI | Other Comprehensive Income (Loss) |
| Operating Leverage | Period-over-period percent change in total revenue, less the period-over-period percent change in noninterest expense |
| Parent Company | Citizens Financial Group, Inc. (the Parent Company of Citizens Bank, National Association and other subsidiaries) |
| PCD | Purchased Credit Deteriorated |
| ROTCE | Return on Average Tangible Common Equity |
| RPA | Risk Participation Agreement |
| RWA | Risk-Weighted Assets |
| SBA | United States Small Business Administration |
| SCB | Stress Capital Buffer |
| SEC | United States Securities and Exchange Commission |
| SOFR | Secured Overnight Financing Rate |
| SVaR | Stressed Value at Risk |
| TBAs | To-Be-Announced Mortgage Securities |
| Tier 1 capital ratio | Tier 1 capital, which includes Common Equity Tier 1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by total risk-weighted assets as defined under the U.S. Basel III Standardized approach |
| Tier 1 leverage ratio | Tier 1 capital, which includes Common Equity Tier 1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by quarterly adjusted average assets as defined under the U.S. Basel III Standardized approach |
| TOP | Tapping Our Potential |
| Total capital ratio | Total capital, which includes Common Equity Tier 1 capital, tier 1 capital, and allowance for credit losses and qualifying subordinated debt that qualifies as tier 2 capital, divided by total risk-weighted assets as defined under the U.S. Basel III Standardized approach |
| USDA | United States Department of Agriculture |
| VA | United States Department of Veterans Affairs |
| VaR | Value at Risk |
| VIE | Variable Interest Entity |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.