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REGULATORY MATTERS | 12 Months Ended
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Dec. 31, 2022
Mortgage Banking [Abstract] |
REGULATORY MATTERS | NOTE 25 - REGULATORY MATTERS As a BHC and FHC, Citizens is subject to regulation and supervision by the FRB. Our banking subsidiary, CBNA, is a national banking association primarily regulated by the OCC. Under the current U.S. Basel III capital framework, the Company and CBNA must meet the following specific minimum requirements: CET1 capital ratio of 4.5%, tier 1 capital ratio of 6.0%, total capital ratio of 8.0% and tier 1 leverage ratio of 4.0%. As a BHC the Company’s SCB of 3.4% is imposed on top of the three minimum risk-based capital ratios listed above and a CCB of 2.5% is imposed on top of the three minimum risk-based capital ratios listed above for CBNA. The Company’s SCB will be re-calibrated with each biennial supervisory stress test and updated annually to reflect the Company’s planned common stock dividends. In addition, the Company must not be subject to a written agreement, order or capital directive with any of its regulators. Failure to meet minimum capital requirements can result in the initiation of certain actions that, if undertaken, could have a material effect on the Company’s Consolidated Financial Statements. The following table presents the capital ratios for the Company and CBNA under the U.S. Basel III Standardized rules. The Company and CBNA have both declared as an “AOCI opt-out” institution, which means they are not required to recognize the AOCI impact of net unrealized gains and losses on debt securities and accumulated net gains and losses on cash flow hedges and certain defined benefit pension plan assets in regulatory capital. In addition, both entities elected to delay the estimated impact of CECL on regulatory capital for a two-year period ending December 31, 2021, followed by a three-year transition period ending December 31, 2024, to phase-in the aggregate amount of the capital benefit provided during the initial two-year delay.
| Actual |  | Required Minimum Capital
(in millions, except ratio data) | Amount | Ratio |  | Amount | Ratio(1)
As of December 31, 2022 |  |  |  |  |
CET1 capital |  |  |  |  |
CFG | $18,574 |  | 10.0 | % |  | $14,633 |  | 7.9 | %
CBNA | 20,669 |  | 11.2 |  |  | 12,935 |  | 7.0 |
Tier 1 capital |  |  |  |  |
CFG | 20,588 |  | 11.1 |  |  | 17,411 |  | 9.4 |
CBNA | 20,669 |  | 11.2 |  |  | 15,706 |  | 8.5 |
Total capital |  |  |  |  |
CFG | 23,755 |  | 12.8 |  |  | 21,116 |  | 11.4 |
CBNA | 23,534 |  | 12.7 |  |  | 19,402 |  | 10.5 |
Tier 1 leverage |  |  |  |  |
CFG | 20,588 |  | 9.3 |  |  | 8,831 |  | 4.0 |
CBNA | 20,669 |  | 9.4 |  |  | 8,807 |  | 4.0 |
As of December 31, 2021 |  |  |  |  |
CET1 capital |  |  |  |  |
CFG | $15,656 |  | 9.9 | % |  | $12,548 |  | 7.9 | %
CBNA | 17,039 |  | 10.7 |  |  | 11,099 |  | 7.0 |
Tier 1 capital |  |  |  |  |
CFG | 17,670 |  | 11.1 |  |  | 14,930 |  | 9.4 |
CBNA | 17,039 |  | 10.7 |  |  | 13,477 |  | 8.5 |
Total capital |  |  |  |  |
CFG | 20,244 |  | 12.7 |  |  | 18,107 |  | 11.4 |
CBNA | 19,600 |  | 12.4 |  |  | 16,648 |  | 10.5 |
Tier 1 leverage |  |  |  |  |
CFG | 17,670 |  | 9.7 |  |  | 7,272 |  | 4.0 |
CBNA | 17,039 |  | 9.4 |  |  | 7,251 |  | 4.0 |
(1) Represents minimum requirement under the current capital framework plus the SCB of 3.4% and CCB of 2.5% for CFG and CBNA, respectively. The SCB and CCB are not applicable to the Tier 1 leverage ratio. The Company’s capital distributions are subject to the oversight of the FRB. Under the FRB’s SCB framework failure to maintain risk-based capital ratios above respective minimum requirements including the SCB would result in graduated restrictions on the Company’s ability to make certain discretionary bonus payments and capital distributions, including common stock dividends and share repurchases. The timing and amount of future dividends and share repurchases will depend on various factors, including the Company’s capital position, financial performance, capital impacts of strategic initiatives, market conditions, receipt of required regulatory approvals and other regulatory considerations. All future capital distributions are subject to consideration and approval by the Board of Directors prior to execution. See Note 17 for more information regarding the Company’s common stock repurchases and dividends. Dividends payable by CBNA are limited to the lesser of the amount calculated under a “recent earnings” test and an “undivided profits” test. Under the recent earnings test, a dividend may not be paid if the total of all dividends declared by a bank in any calendar year is in excess of current year net income plus retained net income for the two preceding years, less any required transfers to surplus, unless the national bank obtains the approval of the OCC. Under the undivided profits test, a dividend may not be paid in excess of the entity’s “undivided profits” (generally, accumulated net profits that have not been paid out as dividends or transferred to surplus). Federal banking regulatory agencies have issued policy statements which provide that FDIC-insured depository institutions and their holding companies should generally pay dividends out of their current operating earnings only.

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- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
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