BNY Mellon Responds to U.S. Tax Court Ruling

Mon Feb 11, 2013 7:27pm EST

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NEW YORK,  Feb. 11, 2013  /PRNewswire/ -- BNY Mellon issued the following
statement in response to a ruling published today by the U.S. Tax Court
regarding the Internal Revenue Service's disallowance of certain foreign tax
credits claimed for the 2001 and 2002 tax years:

"We will appeal the court's decision.  We continue to believe the tax treatment
of the transaction was consistent with statutory and judicial authority existing
at the time.  As a result of the ruling, BNY Mellon expects to take an after-tax
charge of approximately  $850 million  during the first quarter of 2013.  After
taking the charge, the company expects it will continue to be well capitalized
and its Basel III Tier 1 common equity ratio will be impacted by approximately
55 basis points.  At  December 31, 2012, our Basel III Tier 1 common equity
ratio was 9.8%."   

BNY Mellon is a global investments company dedicated to helping its clients
manage and service their financial assets throughout the investment lifecycle. 
Whether providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment management and
investment services in 36 countries and more than 100 markets.  As of  December
31, 2012, BNY Mellon had  $26.7 trillion  in assets under custody and
administration, and  $1.4 trillion  in assets under management.  BNY Mellon can
act as a single point of contact for clients looking to create trade, hold,
manage, service, distribute or restructure investments.  BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). 
Additional information is available on, or follow us on
Twitter @BNYMellon.

Basel III Tier 1 common equity ratio represents a non-GAAP measure. Additional
disclosure regarding this and other non-GAAP measures is available in our
reports filed with the SEC, including our current report on Form 8-K filed on 
January 16, 2013  and available at  

This press release contains statements that are considered "forward-looking
statements." These statements, which may be expressed in a variety of ways,
including the use of future or present tense language, relate to, among other
things, our expectations regarding our after-tax charge during the first quarter
of 2013, our well-capitalized status and the impact on our Basel III Tier 1
common equity ratio.  These forward-looking statements are based on current
beliefs and assumptions that involve risks and uncertainties and that are
subject to change based on various important factors (some of which are beyond
BNY Mellon's control). For additional information with respect to risks and
other factors that could cause BNY Mellon's results to differ materially from
those described in the forward-looking statements, see the risk factors set
forth in BNY Mellon's Annual Report on Form 10-K for the year ended  Dec. 31,
2011, the Quarterly Reports on Form 10-Q for the quarters ended  June 30, 2012 
and  September 30, 2012  and its other filings with the Securities and Exchange
Commission. All statements in this press release speak only as of  February 11,
2013, and BNY Mellon undertakes no obligation to update any statement to reflect
events or circumstances after  February 11, 2013  or to reflect the occurrence
of unanticipated events.


Media:  Kevin Heine, +1-212-635-1590,, or Investors:
Andy Clark, +1-212-635-1803,

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