The PNC Financial Services Group, Inc.
Basel III Pillar 3 Report: Standardized Approach September 30, 2026
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Pillar 3 Disclosure |
Description |
Pages |
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Introduction |
3 |
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Forward-Looking Statements |
3 |
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Basis of Consolidation |
3 |
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Basel III Overview |
4 |
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Capital |
4 |
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Summary of Capital |
4 |
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Restrictions on Transfer of Funds or Total Capital |
4 |
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Capital Adequacy |
4 |
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Capital Ratios |
5 |
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Table 1: Capital Ratios |
6 |
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Table 2: Standardized Risk-Weighted Assets |
6 |
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Supplementary Leverage Ratio |
Table 3: Supplementary Leverage Ratio |
6
7 |
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Credit Risk |
7 |
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Credit Risk Management |
7 |
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Summary of Credit Exposures |
8 |
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Table 4: Loan Exposures by Remaining Contractual |
8 |
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Maturity |
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Credit Risk Mitigation |
9 |
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Counterparty Credit Risk |
9 |
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Counterparty Credit Risk Mitigation |
9 |
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Collateral |
9 |
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Table 5: Counterparty Credit Risk Exposures |
10 |
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Securitization |
10 |
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Summary of Accounting Policies for Securitization |
10 |
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Activities |
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Risk Management |
10 |
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Table 6: Securitization Exposures by Underlying Asset |
11 |
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Type |
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Regulatory Treatment of Securitizations |
11 |
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Table 7: Capital Requirements of Securitization Exposures |
11 |
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by Risk-Weighting |
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Equities Not Subject to the Market Risk Rule |
11 |
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Summary of Equity Investment Exposures |
12 |
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Table 8: Book Value and Fair Value of Equity Exposures |
12 |
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Not Subject to Market Risk Rule |
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Table 9: Capital Requirements of Equity Investment |
12 |
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Exposures by Risk-Weighting |
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Market Risk Capital |
12 |
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Governance of Covered Positions |
13 |
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Valuation Policies, Procedures & Methodologies |
13 |
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Value at Risk (VaR) Models |
13 |
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Table 10: VaR-Based Metrics |
13 |
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Back Testing |
14 |
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Model Validation |
14 |
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Stress Testing |
14 |
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Securitization Positions |
15 |
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Interest Rate Risk for Non-Trading Activities |
15 |
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Glossary of Terms |
16 |
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Disclosure Matrix |
17 |
INTRODUCTION
The PNC Financial Services Group, Inc. (PNC) is a financial services holding company headquartered in Pittsburgh, Pennsylvania and one of the largest diversified financial institutions in the United States (U.S.). PNC has businesses engaged in retail banking, corporate and institutional banking and asset management, providing many of our products and services nationally. We are organized around our customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Our retail branch network is located coast-to-coast, and we also have strategic international offices in four countries outside the U.S. At September 30, 2026, our consolidated total assets, total deposits and total shareholders’ equity were $627.8 billion, $466.4 billion and $62.4 billion, respectively.
PNC is a bank holding company under the Bank Holding Company Act that has elected to be a financial holding company under the Gramm-Leach-Bliley Act. As a bank holding company, PNC is subject to regulation under the Bank Holding Company Act and to comprehensive consolidated supervision, regulation and examination by its primary regulator, the Federal Reserve. PNC primarily conducts its business through its domestic bank subsidiary, PNC Bank, National Association (PNC Bank), which is a national banking association chartered under the laws of the U.S. PNC Bank is supervised and regulated primarily by the Office of the Comptroller of the Currency (OCC), and with respect to some matters, by the Federal Deposit Insurance Corporation (FDIC) and the Consumer Financial Protection Bureau (CFPB).
On January 5, 2026, PNC acquired FirstBank Holding Company including its banking subsidiary. In June 2026, PNC converted approximately 780,000 customers, more than 1,620 employees and 95 branches across Colorado and Arizona, merging FirstBank into PNC Bank. PNC’s results for the nine months ended September 30, 2026 include FirstBank operations since acquisition close on January 5, 2026, and our balance sheet at September 30, 2026 includes FirstBank balances.
This report (Pillar 3 Report) provides information about PNC’s capital structure, risk exposures, risk assessment processes, risk-weighted assets and overall capital adequacy and should be read in conjunction with PNC’s Securities and Exchange Commission (SEC) filings, including the Annual Report on Form 10-K for the year ended December 31, 2025 (2025 Form 10-K) and Quarterly Report on Form 10-Q for the period ended September 30, 2026 (third quarter 2026 Form 10-Q). These SEC filings are available at https://www.pnc.com/secfilings. The Pillar 3 Report and other regulatory disclosures, including PNC Bank’s Call Report, are available at https://www.pnc.com/regulatorydisclosures.
Forward-Looking Statements
This disclosure may contain forward-looking statements, which are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date made. We do not assume any duty and do not undertake any obligation to update forward-looking statements. Actual results or future events could differ, possibly materially, from those anticipated in forward-looking statements, as well as from historical performance. See the Cautionary Statement Regarding Forward-Looking Information in PNC’s third quarter 2026 Form 10-Q for more information. Also see all risks and uncertainties disclosed in PNC’s SEC filings, including its 2025 Form 10-K, and subsequent reports on Forms 10-Q and 8-K, Proxy Statements on Schedule 14A, and, if applicable, its registration statements under the Securities Act of 1933, as amended, all of which are or will upon filing be accessible on PNC’s website at https://www.pnc.com/secfilings and on the SEC’s website at https://www.sec.gov.
Basis of Consolidation
Our consolidated financial statements include the accounts of the parent company and its subsidiaries, most of which are wholly-owned, certain partnership interests and variable interest entities that are required to be consolidated under accounting principles generally accepted in the United States of America (GAAP). We have eliminated intercompany accounts and transactions. The basis for consolidation for regulatory capital calculations is the same as that used in the presentation of PNC’s consolidated financial statements, which is described in further detail in Note 1 Accounting Policies in our 2025 Form 10-K. Consistent with the regulatory capital rules, the minimum capital requirement for our consolidated insurance underwriting subsidiaries under applicable law is deducted from our regulatory capital.
Basel III Overview
PNC and PNC Bank are subject to the regulatory capital requirements established by the Federal Reserve and the OCC (Basel III capital rules). For additional information regarding regulatory capital requirements, see the Banking Regulation and Supervision section included in Item 1 Business of our 2025 Form 10-K.
The Basel III regulatory capital ratios of PNC and PNC Bank as of September 30, 2026 exceeded the applicable minimum levels. For additional information regarding regulatory capital requirements, see the Banking Regulation and Supervision section included in Item 1 Business, the Liquidity and Capital Management portion of the Risk Management section in Item 7 and Note 19 Regulatory Matters in our 2025 Form 10-K.
The disclosures by PNC in this Pillar 3 Report include those required by the standardized approach in the Basel III capital rules. PNC is the top-tier entity within the PNC organization to which the standardized approach applies. In addition, PNC has more than $1.0 billion in aggregate quarterly average trading assets and trading liabilities, and is subject to the market risk capital rule (the “Market Risk Rule”). This Pillar 3 Report also includes PNC’s required disclosures under the Market Risk Rule.
CAPITAL
Summary of Capital
PNC’s regulatory capital structure consists of the following capital instruments:
Common Stock
PNC has $5 par value common stock. At September 30, 2026, there were 800 million shares authorized, and 557 million shares issued, of which 160 million shares were held in treasury at cost. Holders of PNC common stock are entitled to receive dividends when declared by PNC’s Board of Directors out of funds legally available for this purpose. See the Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities in Item 5 of our 2025 Form 10-K for additional information on our common stock.
Preferred Stock
See Note 11 Equity in our 2025 Form 10-K for information on our preferred stock.
Qualifying Subordinated Debt
PNC had $3.1 billion in subordinated debt that qualified as tier 2 capital for the Basel III ratio at September 30, 2026. The interest rates and maturities on our outstanding subordinated debt range from 2.70% to 5.42% and from 2028 to 2041, respectively.
Restrictions on Transfer of Funds or Total Capital
Federal law and regulations place a variety of restrictions on the ability of PNC to transfer funds or total capital among entities within the PNC group. See Note 19 Regulatory Matters in our 2025 Form 10-K for additional information on these restrictions.
Capital Adequacy
PNC’s overall capital planning objective is to maintain sufficient capital resources, both in terms of quantity and quality, to cover all of the firm’s risks and allow the firm to operate effectively through a range of economic environments. PNC’s internal capital adequacy process (CAP) supports this overall objective by taking into account capital stress testing results, capital and liquidity positions and other risk considerations. In addition, PNC’s CAP has a sound risk management infrastructure, including but not limited to, the thorough review and consideration of alternative economic scenarios as well as other risks. The Board of Directors, its Risk Committee, and senior management use the firm’s CAP results to assess the level of capital that is appropriate for the firm to maintain in light of the range of risks facing the firm, the firm’s business strategy, and its risk appetite. Sound capital stress testing practices and methodologies are a key component of PNC’s CAP.
In addition to the Basel III capital rules, PNC is subject to the Federal Reserve’s capital plan rule, annual capital stress testing requirements and Comprehensive Capital Analysis and Review (CCAR) process, as well as the applicable Dodd-Frank Act capital stress testing requirements implemented by the Federal Reserve and the OCC. As part of the CCAR process, the Federal Reserve undertakes a supervisory assessment of PNC’s capital adequacy. This assessment is based on a review of a comprehensive capital plan submitted by PNC to the Federal Reserve that describes the company’s planned capital actions during the nine-quarter review period, as well as the results of stress tests conducted by both the company and the Federal Reserve under different hypothetical macroeconomic scenarios, including supervisory severely adverse scenarios provided by the Federal Reserve.
Capital Ratios
All current period capital ratios are calculated using the regulatory capital rules applicable to PNC during 2026. These Basel III capital ratios may be impacted by any additional regulatory guidance or analysis by PNC as to the application of the rules to PNC.
At September 30, 2026, PNC and PNC Bank were considered “well capitalized” based on applicable U.S. regulatory capital ratios requirements. To qualify as “well capitalized,” PNC must have Basel III capital ratios of at least 6% for tier 1 risk-based capital and 10% for total risk-based capital, and PNC Bank must have Basel III capital ratios of at least 6.5% for common equity tier 1 (CET1) risk-based capital, 8% for tier 1 risk-based capital, 10% for total risk-based capital and a leverage ratio of at least 5%. For PNC Bank’s capital ratios, see PNC Bank’s Call Report for the period ended September 30, 2026.
The Basel III capital rules also include regulatory capital buffer requirements above the minimum risk-based capital ratio requirements that banking organizations must meet in order to avoid limitations on capital distributions (including dividends and repurchases of any tier 1 capital instrument, including common and qualifying preferred stock) and certain discretionary incentive compensation payments. Currently, PNC and PNC Bank must maintain a CET1 capital ratio of at least 7.0%, a tier 1 capital ratio of at least 8.5%, and a total capital ratio of at least 10.5%. At September 30, 2026, PNC and PNC Bank were above these ratios requirements.
PNC’s eligible retained income, defined as the greater of (i) PNC’s net income for the four preceding calendar quarters, net of any distributions and associated tax effects not already reflected in net income, and (ii) the average of PNC’s net income over the preceding four quarters, at September 30, 2026 was $3.3 billion.
On September 30, 2026, the Federal Reserve issued two final rules: the Enhanced Transparency Rule, which is intended to enhance the transparency of its stress testing process, and the SCB Averaging Rule, which is intended to reduce volatility in the SCB requirement applicable to firms such as PNC based on their supervisory stress test results.
Under the Enhanced Transparency Rule, the Federal Reserve will annually publish comprehensive documentation on its stress test models and seek public comment on stress test scenarios and any material model changes. The Federal Reserve also provided additional information regarding its scenario design framework and the macroeconomic variables that will be used in stress testing. The rule also revises the annual stress test calendar by moving the deadline for firms to submit their capital plans from April 5 to April 30 and the deadline for the Federal Reserve to provide final SCBs from August 31 to September 30. Firms will be required to comply with their new SCBs on January 1 of the following year, rather than October 1 of the year in which the stress test occurs. In addition, the Federal Reserve requested public comment on proposed revisions to its noninterest income model that, if adopted, would replace the current model beginning with the 2027 stress test.
The SCB Averaging Rule amended the calculation of the SCB to reduce the volatility of the stress testing capital requirement. Effective January 1, 2029, the SCB will be calculated using the average of two consecutive supervisory stress test results. PNC will remain subject to its current 2.5% minimum SCB until a new SCB requirement takes effect on January 1, 2028.
The following table outlines the Basel III ratios for PNC as of September 30, 2026:
Table 1: Capital Ratios (a)
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In millions |
September 30, 2026 |
|
Basel III |
|
|
Consolidated PNC |
|
|
Regulatory capital |
|
|
Common equity tier 1 capital |
$ 49,138 |
|
Tier 1 capital |
$ 55,019 |
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Total capital |
$ 63,241 |
|
Risk-weighted assets |
|
|
Basel III standardized approach risk-weighted assets |
$ 500,661 |
|
Average quarterly adjusted total assets |
$ 617,695 |
|
Risk-based capital and leverage ratios |
|
|
Common equity tier 1 |
9.8 % |
|
Tier 1 |
11.0 % |
|
Total |
12.6 % |
|
Leverage |
8.9 % |
|
Supplementary Leverage Ratio |
7.2 % |
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See Table 30: Basel III Capital in the Capital Management portion of the Liquidity and Capital Management section of Risk Management in our third quarter 2026 Form 10-Q for additional information on the elements of, and adjustments and deductions to, our consolidated regulatory capital.
The following table outlines PNC’s standardized approach risk-weighted assets as of September 30, 2026 using the categorization based on the standardized definitions:
Table 2: Standardized Risk-Weighted Assets
|
In millions |
September 30, 2026 |
|
On Balance Sheet |
|
|
Exposures to sovereign entities (a) |
$ |
|
Exposures to depository institutions and foreign banks |
889 |
|
Exposures to public sector entities |
3,754 |
|
Corporate exposures |
247,647 |
|
Residential mortgage exposures |
44,881 |
|
High volatility commercial real estate |
529 |
|
Past due loans |
2,327 |
|
Other assets |
43,037 |
|
Securitization exposures |
16,488 |
|
Equity exposures |
12,441 |
|
Off Balance Sheet and Market Risk |
|
|
Off balance sheet commitments, maturity less than one year |
7,096 |
|
Off balance sheet commitments, maturity more than one year |
94,013 |
|
Derivatives |
3,102 |
|
Securitization exposures |
6,175 |
|
Letters of credit and other |
13,465 |
|
Market Risk |
4,817 |
|
Excess allowance for credit losses (b) |
– |
|
Total Standardized Risk-Weighted Assets |
$ 500,661 |
-
Exposures to, and portions of exposures that are directly and unconditionally guaranteed by, the U.S. government, its agencies and the Federal Reserve receive 0% risk weight.
-
Any allowance in tier 2 capital that exceeds 1.25% of Credit Risk risk-weighted assets must be deducted from risk-weighted assets.
SUPPLEMENTARY LEVERAGE RATIO
SLR is defined as Basel III tier 1 capital divided by supplementary leverage exposure. Unlike the traditional leverage ratio, the denominator of the SLR takes into account certain off-balance sheet items, including loan commitments and potential future exposure under derivative contracts. Under the Basel III capital rule, Category III firms (such as PNC and PNC Bank) are subject to minimum SLR requirements.
The following table represents the components of PNC’s SLR as of September 30, 2026.
Table 3: Supplementary Leverage Ratio
|
In millions |
September 30, 2026 |
|
Tier 1 Capital |
$ 55,019 |
|
Total Consolidated Assets (a) |
$ 628,886 |
|
Adjustment for derivative transactions |
1,309 |
|
Adjustment for repo-style transactions |
229 |
|
Adjustment for off-balance sheet exposures |
154,760 |
|
Other adjustments (b) |
(20,135) |
|
Total Supplementary Leverage Exposure |
$ 765,049 |
|
Supplementary Leverage Ratio 7.2 % |
|
-
Total average assets for the three months ended September 30, 2026, as reported in the Average Consolidated Balance Sheet and Net Interest Analysis table of our third quarter 2026 Form 10-Q.
-
Includes adjustments to tier 1 capital, adjustments for frequency calculations, and adjustments for deductions of qualifying central bank deposits for custodial banking organizations.
For additional information on the Supplementary Leverage Ratio, refer to Schedule A “Advanced Approaches Regulatory Capital” of our September 30, 2026 Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework – FFIEC 101.
CREDIT RISK
Credit risk represents the possibility that a customer, counterparty or issuer may not perform in accordance with the contractual terms of their loan, extension of credit or other financial obligation with PNC. Credit risk is inherent in the financial services business and results from extending credit to customers, purchasing securities and entering into financial derivative transactions and certain guarantee contracts. Credit risk is one of our most significant risks. Our processes for managing credit risk are designed to be embedded in our risk culture and in our decision-making processes using a systematic approach whereby credit risks and related exposures are identified and assessed, managed through specific policies and processes, measured and evaluated against our risk appetite and credit concentration limits, and reported, along with specific mitigation activities, to management and the Board of Directors through our governance structure. Our most significant concentration of credit risk is in our loan portfolio.
Credit Risk Management
Credit risk management is integrated into the overall enterprise risk management governance model. The committees responsible for conducting specific oversight, monitoring and reporting of credit risk management activities are described in further detail within the Risk Management section included in our 2025 Form 10-K. PNC’s overall credit process includes comprehensive credit policies, judgmental or statistical credit underwriting, frequent and detailed risk measurement and modeling, extensive credit training programs, and an ongoing credit risk review and/or audit process. PNC management desires to construct and maintain a loan portfolio that will allow it to meet its strategic return goals while remaining within our risk appetite, as described further in the Risk Management section included in our 2025 Form 10-K. A component of our credit risk management framework is our credit concentration process, by which we maintain limits and monitor credit exposure by industry, geography, property, product type and customer. Loan participations with third parties, and loan sales and syndications, are used to manage risk concentrations.
In addition to credit policies and procedures, PNC uses established guidelines for delinquent and nonperforming loans, acceptable levels of industry and total borrower exposure, and other relevant credit measures to monitor risk. These guidelines are established by Credit Risk Management at the corporate, business and segment levels with the goal of remaining within a desired level of risk within PNC’s risk appetite. The established portfolio limits focus on specific pools or characteristics of risk and are designed to ensure that we become aware of portfolio trends and help to enforce the desired construct of the loan portfolio. We may employ portfolio diversification and risk mitigation techniques to counter any undesirable risk pool trends or concentrations. Please refer to the Credit Risk Management section in our third quarter 2026 Form 10-Q and 2025 Form 10-K for the metrics that we use to monitor and manage credit risk.
Credit risk management actions undertaken across the enterprise include continual refinement of underwriting standards, efforts to reduce credit exposure where appropriate, and regular credit risk monitoring and management activities. To further mitigate credit risk, we may periodically reduce or exit certain lending areas. Where we have chosen not to retain the credit risk, it is either because it did not fit within the desired risk appetite, and/or because compensation for such risk is not adequate.
Summary of Credit Exposures
PNC’s major types of credit risk exposures consist of the following, all of which are presented in accordance with GAAP:
Loans
PNC had $378.8 billion in loans at September 30, 2026. See the Loans section of the Consolidated Balance Sheet Review and Note 4 Loans and Related Allowance for Credit Losses in our third quarter 2026 Form 10-Q for further information on our loans.
Credit concentration limits have been established to avoid excessive credit concentrations in certain risk pools that, in the event of increased credit losses, could affect portfolio optimization in terms of capital preservation. Credit concentrations arise when otherwise unrelated loans are linked by a common characteristic (such as aggregate customer exposure, industry, product, property or geography).
See Table 16 Commercial and Industrial Loans by Industry in the Credit Risk Management section of our third quarter 2026 Form 10-Q for the distribution of commercial loans by industry. See Table 17 Commercial Real Estate Loans by Geography and Property Type, Table 18 Residential Real Estate Loan Statistics and Table 19 Home Equity Loan Statistics in the Credit Risk Management section of our third quarter 2026 Form 10-Q for loans by geographic market, property type and lien type.
The following table presents our commercial and consumer loan portfolios by remaining contractual maturity:
Table 4: Loan Exposures by Remaining Contractual Maturity
|
In millions |
September 30, 2026 |
|
After 1 Year Through 5
1 Year or Less Years Greater Than 5 Years Total |
|
|
Commercial loans |
$ 76,088 $ 175,028 $ 25,875 $ 276,991 |
|
Consumer loans |
16,896 20,276 64,629 101,801 |
|
Total |
$ 92,984 $ 195,304 $ 90,504 $ 378,792 |
The methodologies used to estimate our allowance for loan and lease losses and PNC’s policies for: (i) determining past due or delinquency status, (ii) placing loans on nonaccrual, (iii) returning loans to accrual status, and (iv) charging off uncollectible amounts are described in detail in the Credit Risk Management and Critical Accounting Estimates and Judgments sections in Item 7, as well as Note 1 Accounting Policies in our 2025 Form 10-K.
Securities
PNC had $146.4 billion in investment securities at September 30, 2026. See the Investment Securities section within the Consolidated Balance Sheet Review and Note 3 Investment Securities in our third quarter 2026 Form 10-Q for further information on investment securities, including the remaining contractual maturity on our debt securities.
Cash
PNC had $24.7 billion in interest-earning deposits with banks and $5.8 billion in cash and due from banks at September 30, 2026. See the Consolidated Balance Sheet Review included in our third quarter 2026 Form 10-Q for further information on interest-earning deposits with banks.
Derivatives
PNC had $3.7 billion in gross fair value of derivatives in an asset position and $6.6 billion in gross fair value of derivatives in a liability position at September 30, 2026. See Note 13 Financial Derivatives in our third quarter 2026 Form 10-Q for further quantitative and qualitative information on derivatives.
See the Average Consolidated Balance Sheet and Net Interest Analysis within our third quarter 2026 Form 10-Q for average balances of our credit risk exposures.
CREDIT RISK MITIGATION
PNC uses various strategies to mitigate credit risk in its portfolios, including: establishing credit risk appetite measures and limits that define acceptable levels of total borrower exposure, and transferring loans to government agencies in securitization transactions. As described within the Counterparty Credit Risk section of this Pillar 3 Report, we may also obtain collateral from counterparties to manage our overall credit risk. In addition, guarantors can serve as a secondary source of repayment. The primary types of guarantors mitigating credit risk are: individuals, business entities, and the U.S. Government. Under the standardized approach, PNC can recognize a credit risk mitigation benefit for certain third-party guarantees. As of September 30, 2026, the reduction to risk-weighted assets as a result of our qualifying third-party guarantees was approximately $1.6 billion.
COUNTERPARTY CREDIT RISK
Counterparty credit exposure arises from the risk that a counterparty is unable to meet its payment obligations to PNC under certain financial contracts. PNC aggregates a counterparty’s exposures for all transactions involving derivatives and repurchase agreements.
A primary responsibility of credit risk management is the approval of new counterparty trading relationships and the subsequent ongoing review of the creditworthiness of the counterparty. The credit risk associated with derivatives executed with customers is essentially the same as that involved in extending loans and is subject to normal credit policies. See the Credit Risk section within this Pillar 3 Report for further discussion of our credit policies. In addition to using master netting agreements and other collateral agreements to reduce credit risk associated with derivative instruments, we also seek to manage credit risk by evaluating credit ratings of counterparties and by using internal credit analysis, limits, and monitoring procedures. Credit risk is included in the determination of the estimated net fair value of our derivatives.
Credit limits are typically set on a loan equivalent exposure basis and credit exposures and limits are monitored daily.
For further information on counterparty credit risk, including PNC’s use of derivatives, counterparty and transaction rating, credit approval process and provisioning and for the notional amount of our derivatives, see Note 13 Financial Derivatives in our third quarter 2026 Form 10-Q.
Counterparty Credit Risk Mitigation
Credit risk from derivatives is mitigated, where possible, through master netting agreements whereby derivative assets and liabilities with the same counterparty can be offset. The International Swaps and Derivatives Association, Inc. (ISDA) Master Agreement is PNC’s preferred agreement for documenting over-the-counter (OTC) derivatives. It provides the contractual framework within which dealing activities across a full range of OTC products are conducted and contractually binds both parties to apply close-out netting across all outstanding transactions covered by such master netting agreement if either party defaults or other termination events occur. There are certain instances in which we use customized agreements in lieu of an ISDA Master Agreement; however, these agreements include closeout netting language to protect PNC in a similar manner as the ISDA Master Agreement.
Repurchase and resale agreements are typically entered into with counterparties under industry standard master netting agreements which provide for the right to offset amounts owed to one another with respect to multiple repurchase and resale agreements under such master netting agreement (referred to as netting arrangements) and liquidate the purchased or borrowed securities in the event of counterparty default. In order for an arrangement to be eligible for netting under GAAP, we must obtain the requisite assurance that the offsetting rights included in the master netting agreement would be legally enforceable in the event of bankruptcy, insolvency, or a similar proceeding of such third party. Enforceability is evidenced by obtaining a legal opinion that supports, with sufficient confidence, the enforceability of the master netting agreement in bankruptcy.
Collateral
PNC may obtain collateral against derivative assets, depending on the creditworthiness of the counterparty and/or nature of the transaction. All marketable transactions and associated collateral positions are independently revalued and monitored daily. Collateral thresholds vary by counterparty. The majority of collateral held as credit risk mitigation is either cash, U.S. Treasury, or Government agency securities.
With respect to repurchase and resale agreements, PNC takes possession of securities purchased under agreements to resell. We monitor the market value of securities to be repurchased and resold and additional collateral may be obtained where considered appropriate to protect against credit exposure.
Certain derivative agreements contain various credit-risk-related contingent provisions, such as those that require PNC’s debt to maintain a specified credit rating from one or more of the major credit rating agencies. For additional information on the potential
impact of an investment rating downgrade, see the Offsetting and Counterparty Credit Risk and Credit-Risk Contingent Features sections of Note 13 Financial Derivatives in our third quarter 2026 Form 10-Q.
Further detail regarding the net unsecured credit exposure on our derivatives and other contracts is presented in the following table:
Table 5: Counterparty Credit Risk Exposures
|
September 30, 2026
In millions |
Gross Positive Fair Value |
Collateral Held |
Net Unsecured Credit Exposure |
Credit Equivalent Amount |
|
OTC derivatives |
$ 13,700 |
$ 2,938 |
$ 5,637 |
$ 4,519 |
|
Repo-style transactions |
$ 2,021 |
$ 1,850 |
$ 171 |
$ 197 |
SECURITIZATION
The Basel III rules define a securitization exposure as an exposure that meets the following criteria:
-
All or a portion of the credit risk of one or more underlying exposures is transferred to one or more third parties;
-
The credit risk associated with the underlying exposures has been separated into at least two tranches reflecting different levels of seniority;
-
Performance of the securitization depends on performance of the underlying exposures;
-
All or substantially all of the underlying exposures are financial exposures;
-
The underlying exposures are not owned by an operating company; and
-
The underlying exposures are not owned by a small business investment company or related to a community development investment.
Generally, PNC does not securitize its own assets but does have multiple asset types meeting the definition of securitization exposure, which are primarily secured lending and investment positions. See the Credit Risk section within this report for further discussion of our credit policies. The following activities meet the regulatory definition of a securitization:
-
Investment securities that meet the definition of a securitization exposure including asset-backed securities, commercial and residential mortgage-backed securities, and collateralized loan obligations;
-
Secured lending to our clients consisting of collateralized loan obligations and securitizations of trade receivables, auto loan and lease assets, equipment leases, fleet leases, and capital commitments;
-
Servicing advances to transactions including commercial and residential mortgage-backed securities;
-
Subscription line facilities to real estate investment funds secured by the capital commitments of the funds’ investors; and
-
OTC derivatives to special purpose entities.
For a description of the roles that PNC plays in the securitization process, refer to Note 4 Loan Sale and Servicing Activities and Variable Interest Entities in our 2025 Form 10-K.
Summary of Accounting Policies for Securitization Activities
A summary of PNC’s accounting policies for securitization activities is outlined in Note 1 Accounting Policies and in Note 4 Loan Sale and Servicing Activities and Variable Interest Entities in our 2025 Form 10-K.
Risk Management
PNC’s risk department monitors the identification and categorization of securitization exposures. Each quarter, senior management of each line of business with securitization exposures approves a summary of securitization exposures attributable to their business, including the associated capital requirements and the status of associated controls.
For further information on how we use derivatives to mitigate risk associated with changes in the fair value of assets, see
Note 15 Financial Derivatives in our 2025 Form 10-K. Information on how we monitor and evaluate changes in credit can be found in Note 3 Investment Securities and Note 4 Loans and Related Allowance for Credit Losses in our third quarter 2026 Form 10-Q.
The following table presents our total on- and off-balance sheet securitization exposures:
Table 6: Securitization Exposures by Underlying Asset Type
|
In millions |
September 30, 2026 |
|
|
On-Balance Sheet Amount (a) |
Off-Balance Sheet Amount (b) Total Exposure |
|
|
Residential mortgage-backed securities |
$ 615 |
$ – $ 615 |
|
Commercial mortgage-backed securities |
343 |
– 343 |
|
Asset-backed securities |
4,053 |
– 4,053 |
|
State and municipal securities |
1 |
– 1 |
|
Total securities |
$ 5,012 |
$ – $ 5,012 |
|
Loans |
$ 62,699 |
$ 28,779 $ 91,478 |
|
Other assets (c) |
1,005 |
3,567 4,572 |
|
Total |
$ 68,716 |
$ 32,346 $ 101,062 |
-
Excludes gain/loss amounts for available for sale securities.
-
Primarily unfunded commitments to extend credit.
-
Includes accrued interest on securitization exposures.
Regulatory Treatment of Securitizations
The standardized approach requires banks to use either the Simplified Supervisory Formula Approach (SSFA) or assign a 1250% risk-weight to determine regulatory capital for securitization exposures. The total exposure includes the aggregate of all on- and off-balance sheet exposures.
The following table outlines our securitization exposures, the related risk-weighted amount and capital requirement:
Table 7: Capital Requirements of Securitization Exposures by Risk-Weighting (a)
|
In millions |
September 30, 2026 |
|||
|
Risk-Weight Bands |
Total Exposure |
Risk-Weighted Amount |
Capital Requirement (b) |
|
|
Simplified Supervisory Formula Approach (SSFA) |
||||
|
=20% |
$ 93,026 |
$ 18,605 |
$ 1,488 |
|
|
> 20% and <= 100% |
7,034 |
1,639 |
131 |
|
|
> 100% and <= 650% |
992 |
2,310 |
185 |
|
|
> 650% and <1250% |
7 |
72 |
6 |
|
|
=1250% |
3 |
37 |
3 |
|
|
Non-Simplified Supervisory Formula Approach (Non-SSFA) |
||||
|
=1250% |
$ – |
$ – |
$ – |
|
|
Total |
$ 101,062 |
$ 22,663 |
$ 1,813 |
|
-
Includes total resecuritization exposures of $12 million with a risk-weighted amount and capital requirement of $57 million and $5 million, respectively.
-
Capital requirement is calculated as 8% of risk-weighted assets.
EQUITIES NOT SUBJECT TO THE MARKET RISK RULE
Equity investment risk is the risk of potential losses associated with investing in both private and public equity markets. Equity investments include investments in unconsolidated subsidiaries, equity and other investments classified within other assets and fund investments that, in each case, are not a covered position for purposes of the Market Risk Rule nor a securitization exposure.
Various PNC business units manage our equity and other investment activities and are responsible for making investment decisions within the approved policy limits and associated guidelines. PNC has established enterprise-wide policies and methodologies to identify, measure, monitor and report market risk. Market Risk Management provides independent oversight by monitoring compliance with established guidelines and reporting significant risks in the business to management committees and, where appropriate, the Risk Committee of the Board of Directors. All exposures and corresponding risk-weighted assets are monitored and reported to senior level management committees, including the Regulatory Reporting Oversight Committee as needed.
For additional details on the management of equity investment risk, see the Market Risk Management section of our 2025 Form 10-K. For additional information on valuation and accounting, see Note 1 Accounting Policies and Note 14 Fair Value in our 2025 Form 10-K.
Summary of Equity Investment Exposures
PNC holds the following equity investments that do not meet the qualifications of a covered position under the Market Risk Rule and are not a securitization exposure. Private equity investments are held primarily for capital appreciation purposes. Other equity and investment fund positions are held primarily for reasons other than capital gains, including strategic purposes. Our significant equity exposures include the following investments:
-
Tax Credit Investments – see Note 5 Loan Sale and Servicing Activities and Variable Interest Entities in our third quarter 2026 Form 10-Q and Note 4 Loan Sale and Servicing Activities and Variable Interest Entities in our 2025 Form 10-K for further information on tax credit investments.
-
Private Equity – see the Market Risk Management section of our third quarter 2026 Form 10-Q and 2025 Form 10-K for more information on private equity investments.
-
Visa – see the Market Risk Management section of our third quarter 2026 Form 10-Q and 2025 Form 10-K for more information on our Visa investment.
-
Bank Owned/Company Owned Life Insurance policies that are considered investment funds and qualify as equity exposures under the regulatory capital framework.
-
Federal Home Loan Bank and Federal Reserve Bank stock, which are considered equity exposures under the regulatory capital framework.
The following tables outline the book and fair values of investments that do not qualify as covered positions:
Table 8: Book Value and Fair Value of Equity Exposures Not Subject to Market Risk Rule
|
In millions |
September 30, 2026 |
|
|
Equity Exposures |
Book Value |
Fair Value |
|
Publicly traded |
$ 1,640 |
$ 1,640 |
|
Non-publicly traded |
14,013 |
13,819 |
|
Total |
$ 15,653 |
$ 15,459 |
There were no unrealized gains/(losses) related to equity exposures included in tier 1 or tier 2 capital as of September 30, 2026. Realized gains/(losses) from sales and liquidations of equity exposures were $81 million for the three months ended September 30, 2026.
Latent revaluation gains/(losses) are unrealized gains/(losses) on non-public equity investments that are recorded at cost. Such unrealized gains/(losses) are not recognized in the income statement or through accumulated other comprehensive income. Latent revaluation gains, all on our investment in Visa shares, were $0.5 billion at September 30, 2026.
PNC uses the Simple Risk Weight Approach for its equity investments and either the Simple Modified Look Through Approach (SMLTA) or the Alternative Modified Look Through Approach (AMLTA) for certain investment funds. The following table outlines the capital requirements of equity investment exposures by risk-weighting:
Table 9: Capital Requirements of Equity Investment Exposures by Risk-Weighting
|
In millions |
September 30, 2026 |
||
|
Exposure Balance |
Risk-Weighted Assets (a) |
Capital Requirement (b) |
|
|
Simple Risk Weight Approach (SRWA) |
|||
|
0% Risk Weight |
$ 2,634 |
$ – |
$ – |
|
20% Risk Weight |
1,522 |
304 |
24 |
|
100% Risk Weight |
9,412 |
9,412 |
753 |
|
Sub-Total SRWA Equity Exposures |
$ 13,568 |
$ 9,716 |
$ 777 |
|
Simple Modified Look Through Approach (SMLTA) |
74 |
295 |
24 |
|
Alternative Modified Look Through Approach (AMLTA) |
3,804 |
2,430 |
194 |
|
Total |
$ 17,446 |
$ 12,441 |
$ 995 |
-
Includes both on- and off-balance sheet amounts.
-
Capital requirement is calculated as 8% of risk-weighted assets.
MARKET RISK CAPITAL
The U.S. banking agencies’ market risk capital rules define the types of positions that are subject to the market risk capital framework (referred to as “covered positions”). Covered positions are generally defined as those positions that are held (i) for the purpose of
short-term resale, (ii) with the intent of benefiting from actual or expected short-term price movements, (iii) to lock in arbitrage profits, or (iv) in order to hedge any of these types of positions. In addition, subject to certain exceptions, foreign exchange and commodity positions are considered covered positions. Characterization of a position as “trading” for purposes of GAAP is not on its own sufficient to classify the position as a covered position. As a result, certain positions classified as trading under GAAP for our financial statement presentation are not subject to the regulatory market risk capital framework.
Our covered positions primarily arise from the underwriting, investing and risk management services we provide to our customers and associated market risk mitigating hedge activities. Our covered positions are measured and reported in our financial statements at fair value. The products that make up our covered positions are primarily fixed income securities, interest rate derivatives and foreign exchange derivatives. The fixed income securities include mortgage-backed securities and municipal securities. Interest rate derivatives include interest rate swaps, swaptions, caps and floors.
Governance of Covered Positions
PNC has established a Covered Positions Working Group to provide governance over the identification of covered positions, including reviewing our compliance with policies governing management of covered positions. The Covered Positions Working Group is composed of representatives from the lines of business, risk and finance, and is subject to oversight by the Regulatory Reporting Oversight Committee.
Valuation Policies, Procedures & Methodologies
For details regarding our valuation policies, procedures, and methodologies, see Note 1 Accounting Policies and Note 14 Fair Value in our 2025 Form 10-K. For details regarding the risks associated with our valuation policies, procedures, and methodologies, see the Risk Factors section of our 2025 Form 10-K.
Value at Risk (VaR) Models
Our primary metrics used to measure the market risk of our covered position activity are Value at Risk (VaR) and Stressed VaR (sVaR). VaR is a statistically-based measure of risk that estimates the amount of potential loss that may be incurred due to adverse market movements. The measure is of the maximum loss that should not be exceeded on 99 out of 100 days for a 99% VaR. Market Risk Management (MRM) performs a VaR and sVaR calculation on a daily basis using a historical VaR methodology. 10-day VaR and sVaR are calculated at the 99% confidence interval by converting from corresponding daily measures while accounting for autocorrelation and mean-reversion. VaR is calculated using a look-back period of 500 days with market data and sensitivities updated daily, while sVaR is computed based on a 250-day period of significant stress (stress period) which remains constant through the quarter. The chosen stress period is designed to capture the buildup of volatility and profit and loss (P&L) distribution widening. The selected 250-day stress period is monitored by MRM and is updated quarterly. The models used to measure VaR and sVaR take into account the following key market risk factors: interest rates, credit spreads, foreign exchange rates, mortgage rate basis, and implied interest rate and foreign exchange volatilities.
For the three months ended September 30, 2026, our VaR and sVaR metrics were as follows:
Table 10: VaR-Based Metrics (a)
|
In millions |
September 30, 2026 |
|||
|
Credit Spread Risk |
Interest Rate Risk |
Foreign Exchange Risk |
Overall Portfolio |
|
|
Min VaR (b) |
$ 2.3 |
$ 0.1 |
$ 1.7 |
$ 4.3 |
|
Max VaR (b) |
$ 3.4 |
$ 0.5 |
$ 2.0 |
$ 5.5 |
|
Average (Mean) VaR |
$ 2.7 |
$ 0.2 |
$ 1.8 |
$ 4.7 |
|
Period End VaR |
$ 3.1 |
$ 0.2 |
$ 1.9 |
$ 5.2 |
|
Min SVaR (b) |
$ 12.8 |
$ 0.1 |
$ 5.6 |
$ 19.1 |
|
Max SVaR (b) |
$ 21.6 |
$ 2.4 |
$ 9.3 |
$ 30.9 |
|
Average (Mean) SVaR |
$ 16.0 |
$ 1.0 |
$ 7.0 |
$ 24.0 |
|
Period End SVaR |
$ 20.3 |
$ 1.2 |
$ 9.4 |
$ 30.9 |
-
There were no covered positions subject to equity price risk for the three months ended September 30, 2026.
-
The minimum and maximum for the overall portfolio may have occurred on different trading days than the minimum and maximum for the individual components. Thus, the minimum and maximum for the overall portfolio will not equal the sum of the individual components.
For calculating market risk regulatory capital, daily VaRs assume a zero diversification benefit. We use the standardized measurement method, as defined by the Market Risk Rule, to determine the specific risk charge for our covered positions and therefore we are not required to calculate and hold incremental risk capital. In addition, our trading policies do not permit the conduct of correlation trading. Therefore, we are not required to calculate and hold comprehensive risk capital for our covered positions.
Back Testing
To help ensure the integrity of the models used to calculate VaR for our portfolio of covered positions, we use a back testing process, which consists of comparing actual observations of gains or losses against the VaR levels that were calculated at the close of the prior day. Actual gains and losses for these purposes is calculated by holding end-of-day positions constant, and excludes fees, commissions, reserves, net interest income, income from customer transactions and intraday trading in order to isolate the impact of market price changes on end-of-day positions. Because of these adjustments, actual gains or losses for purposes of back testing is also referred to as “Clean P&L.”
We utilize a variety of market risk measures to monitor covered activities, as identified within our MRM policies and utilize the same measures to identify significant outliers. Model owners assess the results of the back testing to verify that the models are performing as expected. In addition, model owners monitor PNC’s sensitivity to changes in market risk factors on a daily basis.
The following graph shows a comparison of actual gains/(losses) against prior-day non-diversified VaR for the period. During the third quarter 2026 there were no back testing exceptions for our overall portfolio of covered positions.
Model Validation
The Model Risk Management Group performs independent validations to evaluate the conceptual framework used by the VaR and sVaR models (e.g., historical simulation), the assumptions underlying the models, the sufficiency and completeness of the risk factors identified as key risk drivers, as well as the sufficiency and accuracy of the historical market data used in the models. Part of the evaluation considers the approach used in the VaR and sVaR calculations, and assesses the parameters used in the models, the accuracy of estimated P&L amounts, as well as the extent to which they may be auto-correlated, and corresponding adjustments.
Stress Testing
MRM performs daily stress-testing of covered positions based on seven different historical stress periods. Stress testing is different from VaR which estimates a potential one day loss in a normal market environment. It is designed to measure potential losses due to extreme market movements and is an additional risk management tool that allows PNC to assess its market risk exposure relative to its risk appetite.
The stress tests employed use one-day market movements representative of market behavior during each of the historical stress periods. The P&L estimate for each scenario is treated as an instantaneous shock for each trading desk. We consider the following risk factors in performing our daily stress-testing: interest rates, credit spreads, foreign exchange rates, mortgage rate basis and implied interest rate volatility.
Securitization Positions
As of September 30, 2026, we had $173 million of securitization positions that were covered positions under the Market Risk Rule. MRM uses the same VaR metrics as described within the Value at Risk (VaR) Models section of this report to monitor and measure changes to market risk daily in PNC’s securitization positions.
As of September 30, 2026, we do not hold any covered positions that are re-securitization positions as defined by the Market Risk Rule, and our trading desks currently do not purchase credit protection for securitization positions.
INTEREST RATE RISK FOR NON-TRADING ACTIVITIES
Interest rate risk results primarily from our traditional banking activities of gathering deposits and extending loans. Many factors, including economic and financial conditions, movements in interest rates and consumer preferences, affect the difference between the interest that we earn on assets, the interest that we pay on liabilities and the level of our noninterest-bearing funding sources. Due to the repricing term mismatches and embedded options inherent in certain of these products, changes in market interest rates not only affect expected near-term earnings, but also the economic values of these assets and liabilities.
For further information on interest rate risk, including an interest sensitivity analysis, see the Market Risk Management – Interest Rate Risk section included in our third quarter 2026 Form 10-Q.
GLOSSARY OF TERMS
This Glossary defines terms related to the Pillar 3 Report. For additional definitions of terms and acronyms, refer to the Glossary in our 2025 Form 10-K.
Alternative Modified Look Through Approach (AMLTA) – Under this approach, a banking organization assigns the adjusted carrying value of an equity exposure to an investment fund on a pro rata basis to different risk weight categories based on the investment limits described in the fund’s prospectus. The banking organization’s risk-weighted asset amount is the sum of each portion of the adjusted carrying value assigned to an exposure type multiplied by the applicable risk weight. For purposes of the calculation the banking organization must assume the fund is invested in assets with the highest risk weight permitted by its prospectus and to the maximum amounts permitted.
Covered Position – The Market Risk Rule defines the types of positions that are subject to the market risk capital framework (referred to as “covered positions”). Covered positions are generally defined as those positions that are held (i) for the purpose of short-term resale, (ii) with the intent of benefiting from actual or expected short-term price movements, (iii) to lock in arbitrage profits, or (iv) in order to hedge any of these types of positions. In addition, subject to certain exceptions, foreign exchange and commodity positions are considered covered positions.
Credit Equivalent Amount – Carrying value (including net accrued but unpaid interest and fees) for the exposure or segment less any allocated transfer risk reserve for the exposure or segment for on-balance sheet exposures. For off-balance sheet exposures, credit equivalent amount is the best estimate of net additions to the outstanding amount owed the bank, including estimated future additional draws of principal and accrued but unpaid interest and fees, that are likely to occur over a one-year horizon assuming default, and potential future exposure of derivative contracts. Certain counterparty exposure credit equivalent amounts can be reduced by recognizing the credit loss mitigation benefits of financial collateral securing the exposure.
High Volatility Commercial Real Estate (HVCRE) – A credit facility that finances or has financed the acquisition, development, or construction of real property.
Latent Revaluation Gains/(Losses) – Unrealized gains/(losses) on nonpublic equity investments that are recorded at cost. Such unrealized gains/(losses) are not recognized in the income statement or through accumulated other comprehensive income.
Simple Modified Look Through Approach (SMLTA) – Under this approach, a banking organization multiplies the adjusted carrying value of its investment in a fund by the highest risk weight that applies to any exposure the fund is permitted to hold as described in the prospectus or fund documents.
Simple Risk Weight Approach (SRWA) – Under this approach, a banking organization would determine the risk-weighted asset amount for each equity exposure by multiplying the adjusted carrying value of the equity exposure by the lowest applicable risk weight permitted.
Simplified Supervisory Formula Approach (SSFA) – Under this approach, a banking organization takes into account the nature and quality of the underlying collateral when assigning a risk weight to a securitization exposure. It was designed to apply relatively higher capital requirements to the more risky junior tranches of a securitization that are the first to absorb losses and apply relatively lower requirements to the most senior positions.
Sovereign – A central government or agency, department, ministry, or central bank of a central government. A sovereign exposure is directly and unconditionally backed by the full faith and credit of a sovereign.
Supplementary Leverage Exposure – The sum of adjusted average assets and certain off-balance sheet exposures, including undrawn credit commitments and derivative potential future exposures.
BASEL PILLAR 3 DISCLOSURE MATRIX
|
Table |
Disclosure Requirement |
Disclosure Location |
Basel Pillar 3 Disclosure Page |
Source Reference – if applicable |
|
|
Table 1: Introduction/Scope of Application |
|||||
|
Quantitative Disclosures: |
|||||
|
(a) |
The name of the top corporate entity in the group to which the standardized approach applies. |
Basel Pillar 3 Regulatory Capital Disclosures:
Introduction |
3 |
||
|
(b) |
A brief description of the differences in the basis for consolidating entities for accounting and regulatory purposes, with a description of those entities:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Basis of Consolidation
Q3 2026 Form 10-Q:
Note 1 – Accounting Policies
2025 Form 10-K:
Note 1 – Accounting Policies
PNC does not have differences in the basis of consolidation for accounting and regulatory purposes. |
3 |
Q3 2026 Form 10-Q:
pg. 50
2025 Form 10-K:
pg. 90 |
|
|
(c) |
Any restrictions, or other major impediments, on transfer of funds or total capital within the group. |
Basel Pillar 3 Regulatory Capital Disclosures: Restrictions on Transfer of Funds or Total Capital 2025 Form 10-K:
Note 19: Regulatory Matters |
4 |
2025 Form 10-K:
pg. 164 |
|
|
Quantitative Disclosures: |
|||||
|
(d) |
The aggregate amount of surplus capital of insurance subsidiaries included in the total capital of the consolidated group. |
None |
None |
||
|
(e) |
The aggregate amount by which actual total capital is less than the minimum total capital requirement in all subsidiaries, with total capital requirements and the name(s) of the subsidiaries with such deficiencies. |
Basel Pillar 3 Regulatory Capital Disclosures:
Capital Ratios
The only bank subsidiary subject to capital requirements is PNC Bank, N.A., which exceed minimum capital requirements. |
5 |
||
|
Table 2: Capital Structure |
|||||
|
Qualitative Disclosures: |
|||||
|
(a) |
Summary information on the terms and conditions of the main features of all regulatory capital instruments. |
Basel Pillar 3 Regulatory Capital Disclosures:
Summary of Capital |
4 |
||
|
2025 Form 10-K:
Part I Item 1 – Supervision and Regulation Part I Item 1A – Risk Factors
Part II Item 5 – Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Note 11 – Equity
Note 19 – Regulatory Matters |
2025 Form 10-K:
pg. 1
pg. 11
pg. 29
pg. 132
pg. 164 |
||||
|
Quantitative Disclosures: |
|||||
|
(b) |
The amount of common equity tier 1 capital, with separate disclosure of:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Table 1: Capital Ratios
Q3 2026 Form 10-Q:
MD&A Liquidity and Capital Management -Basel III Capital Table
Consolidated Financial Statements for Holding Companies – FR Y-9C: Schedule HC-R – Regulatory Capital |
6 |
Q3 2026 Form 10-Q:
pg. 35
Consolidated Financial Statements for Holding Companies -FR Y-9C:
Schedule HC-R |
|
|
2025 Form 10-K:
MD&A Liquidity and Capital Management -Basel III Capital Table |
2025 Form 10-K:
pg. 68 |
||||
|
Table |
Disclosure Requirement |
Disclosure Location |
Basel Pillar 3 Disclosure Page |
Source Reference – if applicable |
|
|
(c) |
The amount of tier 1 capital, with separate disclosure of:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Table 1: Capital Ratios
Q3 2026 Form 10-Q:
MD&A Liquidity and Capital Management -Basel III Capital Table |
6 |
Q3 2026 Form 10-Q:
pg. 35 |
|
|
Consolidated Financial Statements for Holding Companies – FR Y-9C: Schedule HC-R – Regulatory Capital |
Consolidated Financial Statements for Holding Companies -FR Y-9C:
Schedule HC-R |
||||
|
2025 Form 10-K:
MD&A Liquidity and Capital Management -Basel III Capital Table |
2025 Form 10-K:
pg. 68 |
||||
|
(d) |
The amount of total capital, with separate disclosure of:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Table 1: Capital Ratios
Q3 2026 Form 10-Q:
MD&A Liquidity and Capital Management -Basel III Capital Table |
6 |
Q3 2026 Form 10-Q:
pg. 35 |
|
|
Consolidated Financial Statements for Holding Companies – FR Y-9C: Schedule HC-R – Regulatory Capital |
Consolidated Financial Statements for Holding Companies -FR Y-9C:
Schedule HC-R |
||||
|
2025 Form 10-K:
MD&A Liquidity and Capital Management -Basel III Capital Table |
2025 Form 10-K:
pg. 68 |
||||
|
Tables 3: Capital Adequacy |
|||||
|
Qualitative Disclosures: |
|||||
|
(a) |
A summary discussion of PNC’s approach to assessing the adequacy of its capital to support current and future activities. |
Basel Pillar 3 Regulatory Capital Disclosures:
Capital Adequacy |
4 |
||
|
Quantitative Disclosures: |
|||||
|
(b) |
Risk-weighted assets for:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Table 2: Standardized Risk-Weighted Assets
2,7 (pre-sold construction loans), and 12 do not apply to PNC. |
6 |
||
|
(c) |
Standardized market risk-weighted assets as calculated under the market risk rule. |
Basel Pillar 3 Regulatory Capital Disclosures:
Table 2: Standardized Risk-Weighted Assets |
6 |
||
|
Q3 2026 Form 10-Q:
MD&A Liquidity and Capital Management -Basel III Capital Table |
Q3 2026 Form 10-Q:
pg. 35 |
||||
|
2025 Form 10-K:
MD&A Liquidity and Capital Management -Basel III Capital Table |
2025 Form 10-K:
pg. 68 |
||||
|
Table |
Disclosure Requirement |
Disclosure Location |
Basel Pillar 3 Disclosure Page |
Source Reference – if applicable |
|
|
(d) |
Common equity tier 1, tier 1 and total risk-based capital ratios:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Table 1: Capital Ratios
Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices – FFIEC 031:
Schedule RC-R Part 1 – Regulatory Capital Components and Ratios |
6 |
Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices – FFIEC 031:
Schedule RC-R Part 1 |
|
|
Consolidated Financial Statements for Holding Companies – FR Y-9C: Schedule HC-R – Regulatory Capital |
Consolidated Financial Statements for Holding Companies -FR Y-9C:
Schedule HC-R |
||||
|
Q3 2026 Form 10-Q:
MD&A Liquidity and Capital Management -Basel III Capital Table |
Q3 2026 Form 10-Q:
pg. 35 |
||||
|
2025 Form 10-K:
MD&A Liquidity and Capital Management -Basel III Capital Table |
2025 Form 10-K:
pg. 68 |
||||
|
(e) |
Total standardized risk-weighted assets. |
Basel Pillar 3 Regulatory Capital Disclosures:
Table 2: Standardized Risk-Weighted Assets |
6 |
||
|
Consolidated Financial Statements for Holding Companies – FR Y-9C: Schedule HC-R – Regulatory Capital |
Consolidated Financial Statements for Holding Companies -FR Y-9C:
Schedule HC-R |
||||
|
Q3 2026 Form 10-Q:
MD&A Liquidity and Capital Management -Basel III Capital Table |
Q3 2026 Form 10-Q:
pg. 35 |
||||
|
2025 Form 10-K:
MD&A Liquidity and Capital Management -Basel III Capital Table |
2025 Form 10-K:
pg. 68 |
||||
|
Table 4: Capital Conservation Buffer |
|||||
|
Quantitative Disclosures: |
|||||
|
(a) |
At least quarterly, PNC must calculate and publicly disclose the capital conservation buffer. |
Basel Pillar 3 Regulatory Capital Disclosures:
Capital Ratios |
5-6 |
||
|
Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices – FFIEC 031:
Schedule RC-R Part 1 – Regulatory Capital Components and Ratios |
Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices – FFIEC 031:
Schedule RC-R Part 1 |
||||
|
Consolidated Financial Statements for Holding Companies – FR Y-9C: Schedule HC-R – Regulatory Capital |
Consolidated Financial Statements for Holding Companies -FR Y-9C:
Schedule HC-R |
||||
|
(b) |
At least quarterly, PNC must calculate and publicly disclose the eligible retained income. |
Basel Pillar 3 Regulatory Capital Disclosures:
Capital Ratios |
5-6 |
||
|
Table |
Disclosure Requirement |
Disclosure Location |
Basel Pillar 3 Disclosure Page |
Source Reference – if applicable |
|
|
(c) |
At least quarterly, PNC must calculate and publicly disclose any limitations it has on distributions and discretionary bonus payments resulting from the capital conservation buffer framework, including the maximum payout amount for the quarter. |
Basel Pillar 3 Regulatory Capital Disclosures:
Capital Ratios
Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices – FFIEC 031:
Schedule RC-R Part 1 – Regulatory Capital Components and Ratios |
5-6 |
Consolidated Reports of Condition and Income for A Bank With Domestic and Foreign Offices – FFIEC 031:
Schedule RC-R Part 1 |
|
|
Consolidated Financial Statements for Holding Companies – FR Y-9C: Schedule HC-R – Regulatory Capital |
Consolidated Financial Statements for Holding Companies -FR Y-9C:
Schedule HC-R |
||||
|
Table 5: Credit Risk: General Disclosures |
|||||
|
General Qualitative Disclosure Requirements (for each separate risk area) |
|||||
|
(c) |
Describe the risk management objectives and policies, including:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Credit Risk Management
Q3 2026 Form 10-Q:
MD&A – Credit Risk Management
2025 Form 10-K:
MD&A – Credit Risk Management |
7 |
Q3 2026 Form 10-Q:
pg. 23
2025 Form 10-K:
pg. 54 |
|
|
Qualitative Disclosures |
|||||
|
(a) |
The general qualitative disclosure requirement with respect to credit risk (excluding the counterparty credit risk disclosed in accordance with Table 6), including the:
|
Basel Pillar 3 Regulatory Capital Disclosures:
Credit Risk Management
Q3 2026 Form 10-Q:
Consolidated Income Statement Review -Provision for Credit Losses Table Consolidated Balance Sheet Review MD&A – Credit Risk Management
Average Consolidated Balance Sheet and Net Interest Analysis
Critical Accounting Estimates and Judgments Note 1 – Accounting Policies
Note 3 – Investment Securities
Note 4 – Loans and Related Allowances for Credit Losses
Note 13 – Financial Derivatives |
7 |
Q3 2026 Form 10-Q:
pg. 11
pg. 11
pg. 23
pg. 39
pg. 43
pg. 50
pg. 55
pg. 58
pg. 88 |
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2025 Form 10-K:
Consolidated Income Statement Review -Provision for (Recapture of) Credit Losses Table
Consolidated Balance Sheet Review MD&A – Credit Risk Management
Average Consolidated Balance Sheet and Net Interest Analysis
Critical Accounting Estimates and Judgments Note 1 – Accounting Policies
Note 2 – Investment Securities
Note 3 – Loans and Related Allowances for Credit Losses
Note 15 – Financial Derivatives |
2025 Form 10-K:
pg. 39
pg. 40
pg. 54
pg. 74
pg. 76
pg. 90
pg. 106
pg. 109
pg. 147 |
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Quantitative Disclosures: |
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