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Bank of New York Mellon to pay $6.6 million to settle SEC charges
January 12, 2017 / 6:45 PM / 9 months ago

Bank of New York Mellon to pay $6.6 million to settle SEC charges

The Bank of New York Mellon Corp. building at 1 Wall St. is seen in New York's financial district March 11, 2015. REUTERS/Brendan McDermid

WASHINGTON (Reuters) - The Bank of New York Mellon Corp (BK.N) will pay $6.6 million to resolve civil charges after it miscalculated its risk-based capital ratio, federal regulators said on Thursday.

The Securities and Exchange Commission said the bank broke the capital rules by excluding from its calculations approximately $14 billion in collateralized loan obligation assets. The bank is settling the case without admitting or denying the charges.

Reporting by Sarah N. Lynch; Editing by Chris Reese

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