PNC FINANCIAL SERVICES GROUP, INC.

FDIC Insurance; Resolution Planning

On June 30, 2026, the FDIC issued proposals to amend its assessments and resolution plan submission rules. The assessments proposal would reduce assessments by 2 basis points for smaller banks and by 1 basis point for large and highly complex banks like PNC Bank. The proposal would also allow large and highly complex banks to obtain an additional reduction through a “resolution readiness adjustment” by opting in to (i) virtual data room testing, where banks would receive an additional 0.5 basis point reduction for successfully demonstrating the capability to upload specified information to the FDIC’s virtual data room within 48 hours of a request, and (ii) data access requirements, where banks would receive an additional 0.5 basis point reduction by enabling FDIC access to internal data systems needed to receive and process data in the event of an institution’s failure. Based on our initial review, the proposal would result in immaterial cost savings for PNC Bank if finalized as proposed.

The resolution plan proposal significantly scales back content requirements, moving away from descriptions of resolution-related hypothetical strategies and descriptions of a bank’s resolution capabilities. In addition, the proposal would eliminate the FDIC’s credibility assessment of submissions, as well as expectations for capabilities testing. The proposal would also adjust submission timing to require submissions every three years for all institutions, with no interim supplement submission required in off years. Comments on both proposals are due August 31, 2026.

The PNC Financial Services Group, Inc. –Form 10-Q 41