CAPITAL ONE FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
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Regulatory Risk-Based Capital Components and Regulatory Capital Metrics
Table 13 presents regulatory capital under the Basel III standardized approach and regulatory capital metrics as of December 31, 2023 and 2022.
Table 13: Regulatory Risk-Based Capital Components and Regulatory Capital Metrics
| (Dollars in millions) | December 31, 2023 | December 31, 2022 |
|---|---|---|
| Regulatory capital under Basel III standardized approach | ||
| Common equity excluding AOCI | $62,710 | $59,450 |
| Adjustments and deductions: | ||
| AOCI, net of tax(1) | 27 | (17) |
| Goodwill, net of related deferred tax liabilities | (14,811) | (14,540) |
| Other intangible and deferred tax assets, net of deferred tax liabilities | (311) | (162) |
| Common equity Tier 1 capital | 47,615 | 44,731 |
| Tier 1 capital instruments | 4,845 | 4,845 |
| Tier 1 capital | 52,460 | 49,576 |
| Tier 2 capital instruments | 1,936 | 2,585 |
| Qualifying allowance for credit losses | 4,728 | 4,553 |
| Tier 2 capital | 6,664 | 7,138 |
| Total capital | $59,124 | $56,714 |
| Regulatory capital metrics | ||
| Risk-weighted assets | $369,206 | $357,920 |
| Adjusted average assets(2) | 467,553 | 444,704 |
| Total leverage exposure(3) | 546,909 | 522,136 |
(1)Excludes certain components of AOCI in accordance with rules applicable to Category III institutions. See“Capital Management—Basel III and United States Capital Rules” in this Report.
(2)Includes on-balance sheet asset adjustments subject to deduction from Tier 1 capital under the Basel III Capital Rules.
(3)Reflects on- and off-balance sheet amounts for the denominator of the supplementary leverage ratio as set forth by the Basel III Capital Rules.
Capital Planning and Regulatory Stress Testing
We repurchased $150 million of shares of our common stock during the fourth quarter of 2023 and $600 million of shares of our common stock during the year ended 2023.
On July 27, 2023, the Federal Reserve announced individual stress capital buffer requirements for all large banking institutions, including the Company. The Company’s final stress capital buffer requirement for the period beginning on October 1, 2023 through September 30, 2024 is 4.8%. Therefore, the Company’s minimum capital requirements plus the standardized approach capital conservation buffer for CET1 capital, Tier 1 capital and total capital ratios under the stress capital buffer framework are 9.3%, 10.8% and 12.8%, respectively, for the period from October 1, 2023 through September 30, 2024.
For the description of the regulatory capital planning rules and stress testing requirements to which we are subject, see “Part I—Item 1. Business—Supervision and Regulation.”
| 81 | Capital One Financial Corporation (COF) |
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