{"id":31406,"date":"2023-05-04T16:03:54","date_gmt":"2023-05-04T16:03:54","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/pnc-says-it-can\/"},"modified":"2023-05-04T16:37:15","modified_gmt":"2023-05-04T16:37:15","slug":"pnc-made-available-up","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/pnc-made-available-up\/","title":{"rendered":"PNC made available up to $15 billion in short-term debt to provide additional liquidity"},"content":{"rendered":"<p> (This May 2 story has been refiled to say &#8216;made available,&#8217; not &#8216;promises,&#8217; in the headline)<\/p>\n<p>(Reuters) &#8211;     PNC Financial Services Group Inc said on Tuesday the parent company and its banking unit can offer up to $15 billion of its commercial paper to provide additional liquidity. <\/p>\n<p>The regional bank, which has so far been insulated from deposit flight, said in a filing the holding company can offer up to $5 billion and the banking unit $10 billion.<\/p>\n<p>No commercial paper has been issued as of March 31, the filing said. Commercial paper is an unsecured debt instrument issued by companies to finance short-term needs such as inventories and payroll. <\/p>\n<p>The company&#8217;s liquidity coverage ratio for the first quarter was 108%, exceeding its regulatory minimum requirement, it said. Its common equity tier 1 ratio, a key measure of financial strength, had also increased to 9.2% at March end, from 9.1% at December end.<\/p>\n<p>PNC, among the top 10 U.S. banks by assets, reported a marginal rise in deposits to $436.8 billion and a profit of $3.98 per share in the first quarter that exceeded analysts&#8217; estimate.<\/p>\n<p>The Federal Reserve in March unveiled a new program to ensure banks can meet the needs of all their depositors amid escalating chances of bank runs.<\/p>\n<p \/>\n<p> (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Arun Koyyur and Chris Reese)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/pnc-promises-up-to\/file-photo-person-walks-past-a-branch-of-pnc-bank\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ410T6-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ410T6-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This May 2 story has been refiled to say &#8216;made available,&#8217; not &#8216;promises,&#8217; in the headline) (Reuters) &#8211; PNC Financial Services Group Inc said on Tuesday the parent company and its banking unit can offer up to $15 billion of its commercial paper to provide additional liquidity. The regional bank, which has so far been [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":31407,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-31406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ410T6-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=31406"}],"version-history":[{"count":5,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31406\/revisions"}],"predecessor-version":[{"id":34501,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31406\/revisions\/34501"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/31407"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=31406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=31406"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=31406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}