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data-desktop-bp="70em"><div id="toc-wrapper_1-0" class="comp toc-wrapper mntl-toc mntl-block" data-offset="60" data-tracking-container="true"><div id="mntl-toc__inner_1-0" class="comp mntl-toc__inner mntl-block"><div id="mntl-toc__heading_1-0" class="comp mntl-toc__heading mntl-block js-toc-toggle"><span id="mntl-toc__heading-text_1-0" class="comp mntl-toc__heading-text mntl-text-block">Table of Contents</span> <div id="mntl-toc-toggle_1-0" class="comp mntl-toc-toggle mntl-block"><button id="mntl-toc-toggle__btn_1-0" class="comp mntl-toc-toggle__btn mntl-text-block js-mntl-toc-toggle" data-collapsed-text="Expand" data-expanded-text="Collapse">Expand</button></div></div> <div id="mntl-toc__mobile-toggle_1-0" class="comp mntl-toc__mobile-toggle mntl-block js-sticky-toggle"><span id="mntl-toc__heading-text_2-0" class="comp mntl-toc__heading-text mntl-text-block">Table of Contents</span> <svg class="icon icon-drawer-arrow " > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-drawer-arrow" href="#icon-drawer-arrow"></use> </svg></div> <ul id="mntl-toc__list_1-0" class="comp mntl-toc__list mntl-toc__list-heading expert-content"><li id="mntl-toc__list-item_1-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_1-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-what-is-common-equity-tier-1-cet1" rel="nocaes" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" id="mntl-toc__list-item-link_1-0" data-tracking-container="true" ><span class="link__wrapper">What Is CET1?</span></a></div></li> <li id="mntl-toc__list-item_2-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_2-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-understanding-common-equity-tier-1-cet1" rel="nocaes" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" id="mntl-toc__list-item-link_2-0" data-tracking-container="true" ><span class="link__wrapper">Understanding CET1</span></a></div></li> <li id="mntl-toc__list-item_3-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_3-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-special-considerations" rel="nocaes" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" id="mntl-toc__list-item-link_3-0" data-tracking-container="true" ><span class="link__wrapper">Special Considerations</span></a></div></li> <li id="mntl-toc__list-item_4-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_4-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-calculating-cet1-capital" rel="nocaes" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" id="mntl-toc__list-item-link_4-0" data-tracking-container="true" ><span class="link__wrapper">Calculating CET1 Capital</span></a></div></li> <li id="mntl-toc__list-item_5-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_5-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-how-are-tier-1-capital-and-cet1-capital-different" rel="nocaes" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" id="mntl-toc__list-item-link_5-0" data-tracking-container="true" ><span class="link__wrapper">FAQs</span></a></div></li> <li id="mntl-toc__list-item_6-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_6-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-the-bottom-line" rel="nocaes" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" id="mntl-toc__list-item-link_6-0" data-tracking-container="true" ><span class="link__wrapper">The Bottom Line</span></a></div></li></ul></div></div></div></div> </div><div class="loc article-pre-content"><ul id="breadcrumbs_1-0" class="comp breadcrumbs mntl-breadcrumbs mntl-block" data-tracking-container="true"><li id="mntl-breadcrumbs__item_1-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/economy-4689801" rel="nocaes" class="mntl-text-link mntl-breadcrumbs__link" id="mntl-text-link_1-0" data-tracking-container="true" ><span class="link__wrapper">Economy</span></a></li> <li id="mntl-breadcrumbs__item_2-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/monetary-policy-4689792" rel="nocaes" class="mntl-text-link mntl-breadcrumbs__link" id="mntl-text-link_2-0" data-tracking-container="true" ><span class="link__wrapper">Monetary Policy</span></a></li></ul> <header id="article-header_1-0" class="comp article-header mntl-block right-rail__offset js-toc-appear"><h1 id="article-heading_1-0" class="comp article-heading mntl-text-block">Common Equity Tier 1 (CET1) Definition and Calculation</h1> <div id="sponsorship-wrapper_1-0" class="comp sponsorship-wrapper mntl-block"></div> <div id="article-meta_1-0" class="comp article-meta mntl-block" data-tracking-container="true"><div id="finance-bylines_1-0" class="comp finance-bylines mntl-bylines"><div id="mntl-bylines__group_1-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--author"><div id="mntl-bylines__item_1-0" class="comp mntl-bylines__item mntl-attribution__item mntl-attribution__item--has-date"> <span class="mntl-attribution__item-descriptor">By</span> <div data-tooltip="Mitchell Grant is a self-taught investor with over 5 years of experience as a financial trader. He is a financial content strategist and creative content editor." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/mitchell-grant-4686317" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Mitchell Grant</a> <div id="mntl-author-tooltip_1-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top mntl-author-tooltip__top--no-image"> <a href="https://www.investopedia.com/mitchell-grant-4686317" rel="nocaes" class="finance-author-tooltip__link mntl-text-link " id="finance-author-tooltip__link_1-0" data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_1-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/mitchell-grant-writer/" target="_blank" rel="noopener nocaes" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Mitchell Grant's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> Mitchell Grant is a self-taught investor with over 5 years of experience as a financial trader. He is a financial content strategist and creative content editor. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div> <div class="mntl-attribution__item-date">Updated July 02, 2024</div></div> <div id="mntl-bylines__group_2-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--finance_reviewer"><div id="mntl-bylines__item_2-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Reviewed by</span> <div data-tooltip="Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in investment capital." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/robert-c-kelly-4799779" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Robert C. Kelly</a> <div id="mntl-author-tooltip_2-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:83.0%;"> <img data-src="https://www.investopedia.com/thmb/UG8EPP4nOD_hJeBX9pDBhUYUOhI=/200x200/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png" width="200" height="200" data-srcset="https://www.investopedia.com/thmb/pIl42c9xAxiFbsnHyEqrIk1awww=/40x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 40w, https://www.investopedia.com/thmb/Pazhi1WZb4jjLHbwOJmVpTRHHJo=/58x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 58w, https://www.investopedia.com/thmb/e0jukJ_G7IhGYjaqaPACg6Y3rC4=/76x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 76w, https://www.investopedia.com/thmb/hp2cAfKzNnjKgx6fSRvQwwDpuDI=/94x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 94w, https://www.investopedia.com/thmb/w8N3hEW5EljqVX-sHFjkMP7vSww=/112x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 112w" data-sizes="80px" alt="Robert C. Kelly" class="lazyload mntl-author-tooltip__image mntl-image universal-image__image" /> <noscript> <img src="https://www.investopedia.com/thmb/UG8EPP4nOD_hJeBX9pDBhUYUOhI=/200x200/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png" width="200" height="200" class="img--noscript mntl-author-tooltip__image mntl-image universal-image__image" srcset="https://www.investopedia.com/thmb/pIl42c9xAxiFbsnHyEqrIk1awww=/40x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 40w, https://www.investopedia.com/thmb/Pazhi1WZb4jjLHbwOJmVpTRHHJo=/58x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 58w, https://www.investopedia.com/thmb/e0jukJ_G7IhGYjaqaPACg6Y3rC4=/76x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 76w, https://www.investopedia.com/thmb/hp2cAfKzNnjKgx6fSRvQwwDpuDI=/94x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 94w, https://www.investopedia.com/thmb/w8N3hEW5EljqVX-sHFjkMP7vSww=/112x0/filters:no_upscale():max_bytes(150000):strip_icc()/ScreenShot2020-03-23at2.04.43PM-8377f81c52324df1b62241b6fddc9d2d.png 112w" sizes="80px" alt="Robert C. Kelly" /> </noscript> </div> </div> <div id="mntl-author-tooltip__name_1-0" class="comp mntl-author-tooltip__name mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Reviewed by</span> <span id="mntl-author-tooltip__name_1-0" class="comp mntl-author-tooltip__name mntl-attribution__item mntl-attribution__item-name">Robert C. Kelly</span> </div> <a href="https://www.investopedia.com/robert-c-kelly-4799779" rel="nocaes" class="finance-author-tooltip__link mntl-text-link " id="finance-author-tooltip__link_2-0" data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div class="mntl-author-tooltip__bio"> Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in investment capital. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/investopedia-financial-review-board-5076269" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >Financial Review Board</a> </div> </div></div> </div></div> <div id="mntl-bylines__group_3-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--fact_checker"><div id="mntl-bylines__item_3-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <div data-tooltip="Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/yarilet-perez-5078533" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Yarilet Perez</a> <div id="mntl-author-tooltip_3-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:133.3%;"> <img data-src="https://www.investopedia.com/thmb/cEF2qOX7iOQUm6i7wsIW7l6w0qo=/200x200/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg" width="200" height="200" data-srcset="https://www.investopedia.com/thmb/wOHNKLYpM8gAvM3xyg_jNq6AYgw=/40x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 40w, https://www.investopedia.com/thmb/a0aptMiT_WJ5AkwetZ12u9d3QF0=/58x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 58w, https://www.investopedia.com/thmb/KYyDtZf17xGS7aT62tWG9TTjLVs=/76x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 76w, https://www.investopedia.com/thmb/kCyJkJyUt1QCqpazpYmXr65Nvt0=/94x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 94w, https://www.investopedia.com/thmb/mwEOw6QbeMucQ4osCMZUTriBckM=/112x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 112w" data-sizes="80px" alt="Yarilet Perez" class="lazyload mntl-author-tooltip__image mntl-image universal-image__image" /> <noscript> <img src="https://www.investopedia.com/thmb/cEF2qOX7iOQUm6i7wsIW7l6w0qo=/200x200/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg" width="200" height="200" class="img--noscript mntl-author-tooltip__image mntl-image universal-image__image" srcset="https://www.investopedia.com/thmb/wOHNKLYpM8gAvM3xyg_jNq6AYgw=/40x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 40w, https://www.investopedia.com/thmb/a0aptMiT_WJ5AkwetZ12u9d3QF0=/58x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 58w, https://www.investopedia.com/thmb/KYyDtZf17xGS7aT62tWG9TTjLVs=/76x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 76w, https://www.investopedia.com/thmb/kCyJkJyUt1QCqpazpYmXr65Nvt0=/94x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 94w, https://www.investopedia.com/thmb/mwEOw6QbeMucQ4osCMZUTriBckM=/112x0/filters:no_upscale():max_bytes(150000):strip_icc()/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg 112w" sizes="80px" alt="Yarilet Perez" /> </noscript> </div> </div> <div id="mntl-author-tooltip__name_2-0" class="comp mntl-author-tooltip__name mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <span id="mntl-author-tooltip__name_2-0" class="comp mntl-author-tooltip__name mntl-attribution__item mntl-attribution__item-name">Yarilet Perez</span> </div> <a href="https://www.investopedia.com/yarilet-perez-5078533" rel="nocaes" class="finance-author-tooltip__link mntl-text-link " id="finance-author-tooltip__link_3-0" data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_3-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/yariletp/" target="_blank" rel="noopener nocaes" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Mitchell Grant's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div></div> </div></div></header> <figure id="article-primary-image_1-0" class="comp article-primary-image mntl-universal-primary-image primary-image"> <div class="primary-image__media"> <div class="img-placeholder" style="padding-bottom:67.5%;"> <img src="https://www.investopedia.com/thmb/WIhyFLpCUN4CXqDRBVIqSyPhnsg=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Common-equity-tier-1-cet1_final-cb6afdb761574a8f867c846f81bc5de4.png" width="4000" height="2700" srcset="https://www.investopedia.com/thmb/aNA-JTbQKnethLU-YMZhlWPKkDA=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/Common-equity-tier-1-cet1_final-cb6afdb761574a8f867c846f81bc5de4.png 750w" sizes="750px" alt="Common Equity Tier 1 (CET1)" class=" primary-image__image mntl-primary-image--blurry" onload="(function(e){e.classList.add('loaded')})(this)" style="--blurry: url('data:image/gif;charset=utf-8;base64,R0lGODlhCgAHAPQAAAATNAAXNwIWNwIXNgMXOAMYNwEYOAIZOQIZOwwjRR88ZlZlek92r0xysIq5/6zN/8Tb/f///wATNAATNAATNAATNAATNAATNAATNAATNAATNAATNAATNAATNAATNAATNCwAAAAACgAHAEQIJwAdCBxI0MEAAwgIFHQQAUAACA0WSmT4QMABCAsZKFiQQOKBAgsDAgA7')" /> <noscript> <img src="https://www.investopedia.com/thmb/WIhyFLpCUN4CXqDRBVIqSyPhnsg=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Common-equity-tier-1-cet1_final-cb6afdb761574a8f867c846f81bc5de4.png" width="4000" height="2700" class="loaded primary-img--noscript primary-image__image mntl-primary-image--blurry" srcset="https://www.investopedia.com/thmb/aNA-JTbQKnethLU-YMZhlWPKkDA=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/Common-equity-tier-1-cet1_final-cb6afdb761574a8f867c846f81bc5de4.png 750w" sizes="750px" alt="Common Equity Tier 1 (CET1)" /> </noscript> </div> </div> <figcaption id="primary-image__figcap_1-0" class="comp primary-image__figcap mntl-figure-caption figure-article-caption"> <span class="figure-article-caption-owner"><p>Investopedia / Michela Buttignol</p></span> </figcaption></figure> </div><div class="loc article-content"><div id="article__primary-video-container--jw_1-0" class="comp article__primary-video-container--jw mntl-block"></div> <div id="article__broad-video--jw_1-0" class="comp article__broad-video--jw mntl-jwplayer-broad mntl-block is-hidden" data-pixel-depth="100"><div id="mntl-jwplayer-broad__video_1-0" class="comp mntl-jwplayer-broad__video mntl-jwplayer mm-video lazyload" data-bgset data-sizes="auto"></div> <div id="mntl-jwplayer-broad__title_1-0" class="comp mntl-jwplayer-broad__title mntl-block"><div id="mntl-jwplayer-broad__title--text_1-0" class="comp mntl-jwplayer-broad__title--text mntl-text-block text-utility-100"></div> <button id="mntl-jwplayer-broad__title-icon--close_1-0" class="comp mntl-jwplayer-broad__title-icon--close mntl-block text-label-100" data-click-tracked="false"><span id="mntl-text-block_1-0" class="comp mntl-text-block">Close</span> <svg class="icon close-icon " > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#close-icon" href="#close-icon"></use> </svg></button></div></div> <div id="article-body_1-0" class="comp article-body mntl-block" data-contain-tooltips="true"><div id="mntl-sc-page_1-0" class="comp mntl-sc-page mntl-block article-body-content" data-sc-sticky-offset="80" data-sc-ad-label-height="0" data-sc-ad-track-spacing="90" data-sc-min-track-height="250" data-sc-max-track-height="600" data-sc-breakpoint="50em" data-sc-load-immediate="1" data-sc-content-positions="[300, 1, 1, 1250, 1, 1, 1, 1]" data-bind-scroll-on-start="true"><span class="heading-toc" id="toc-what-is-common-equity-tier-1-cet1"></span><h2 id="mntl-sc-block_1-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> What Is Common Equity Tier 1 (CET1)? </span> </h2> <p id="mntl-sc-block_2-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Common Equity Tier 1 (CET1) is a component of Tier 1 capital and comprises primarily of common stock held by a bank or other <a href="https://www.investopedia.com/terms/f/financialinstitution.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">financial institution</a>. CET1 is a <a href="https://www.investopedia.com/terms/c/capital.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">capital</a> measure that was introduced in 2014 as a precautionary way to protect the economy from a financial crisis.<span class="ql-inline-citation" data-cite="8"></span> Banks are expected to meet the minimum CET1 ratio requirements to their <a href="https://www.investopedia.com/terms/r/riskweightedassets.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">risk-weighted assets</a> (RWAs) as outlined by their financial regulators. </p> <div id="mntl-sc-block_3-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_4-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_5-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-whatyouneedtoknow" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_1-0" class="comp mntl-sc-block-callout-heading mntl-text-block">Key Takeaways</h3> <div id="mntl-sc-block-callout-body_1-0" class="comp mntl-sc-block-callout-body mntl-text-block"><ul><li>Common Equity Tier 1 (CET1) covers liquid bank holdings such as cash and stock.</li><li>The CET1 ratio compares a bank's capital against its assets.</li><li>Additional Tier 1 (AT1) capital is composed of instruments that are not common equity.</li><li>In the event of a crisis, equity is taken first from Tier 1.</li><li>Many stress tests use Tier 1 capital as a starting measure to gauge a bank's liquidity and ability to survive a challenging monetary event.</li></ul></div></div></div> <span class="heading-toc" id="toc-understanding-common-equity-tier-1-cet1"></span><h2 id="mntl-sc-block_6-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Understanding Common Equity Tier 1 (CET1) </span> </h2> <p id="mntl-sc-block_7-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The <a href="https://www.investopedia.com/terms/b/baselcommittee.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">Basel Committee</a> formulated a reformed set of international standards to review and monitor banks' capital adequacy following the <a href="https://www.investopedia.com/articles/economics/09/financial-crisis-review.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">2007-2008 financial crisis</a>. These standards, which are collectively called <a href="https://www.investopedia.com/terms/b/basell-iii.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">Basel III</a>, compare a bank’s assets with its capital to determine if the bank could stand the test of a crisis.<span class="ql-inline-citation" data-cite="2"></span> </p> <div id="mntl-sc-block_8-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_9-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Capital is required by banks to absorb unexpected losses that arise during the normal course of the bank’s operations. The Basel III framework tightens capital requirements by limiting the type of capital that a bank may include in its different capital tiers and structures.<span class="ql-inline-citation" data-cite="3"></span> </p> <div id="mntl-sc-block_10-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_11-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> A bank’s capital structure consists of several tiers. These include:<span class="ql-inline-citation" data-cite="9"></span><br/> </p> <div id="mntl-sc-block_12-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <ul id="mntl-sc-block_13-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> <li><strong><a href="https://www.investopedia.com/terms/t/tier1capital.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">Tier 1 Capital</a>: </strong>Known as going concern or core capital, Tier 1 is used to fund a financial institution's business activities. It includes Common Equity Tier 1 (CET1) capital and Additional Tier 1 (AT1) capital.</li> <li><strong><a href="https://www.investopedia.com/terms/t/tier2capital.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">Tier 2 Capital</a>: </strong>This is often called gone concern or supplementary capital. This category is made up of things like hybrid capital instruments and subordinated term debt.</li> <li><strong><a href="https://www.investopedia.com/terms/t/tier3capital.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">Tier 3 Capital</a>:</strong> This type of capital includes market risk, commodities risk, and foreign currency risk and is the lowest quality of the three.<br></li> </ul> <div id="mntl-sc-block_14-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_15-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Common Equity Tier 1 is "the highest quality of regulatory capital, as it absorbs losses immediately when they occur," according to the Bank of International Settlements. A bank's Tier 1 capital must include a minimum ratio of 4.5% of CET1 to its RWAs.<span class="ql-inline-citation" data-cite="6"></span><br/> </p> <div id="mntl-sc-block_16-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_17-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_18-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-important" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_2-0" class="comp mntl-sc-block-callout-heading mntl-text-block"></h3> <div id="mntl-sc-block-callout-body_2-0" class="comp mntl-sc-block-callout-body mntl-text-block"><p>CET1 is a measure of bank solvency that gauges a bank’s capital strength.<span class="ql-inline-citation" data-cite="10"></span></p></div></div></div> <span class="heading-toc" id="toc-special-considerations"></span><h2 id="mntl-sc-block_19-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Special Considerations </span> </h2> <p id="mntl-sc-block_20-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> A bank’s capital structure consists of Lower Tier 2, Upper Tier 1, AT1, and CET1. CET1 is at the bottom of the capital structure, which means that any losses incurred are first deducted from this tier in the event of a crisis.<span class="ql-inline-citation" data-cite="6"></span> If the deduction results in the CET1 ratio dropping below its regulatory minimum, the bank must build its capital ratio back to the required level or risk being overtaken or shut down by regulators. </p> <div id="mntl-sc-block_21-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_22-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> During the rebuilding phase, regulators may prevent the bank from paying <a href="https://www.investopedia.com/terms/d/dividend.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">dividends</a> or employee bonuses.<span class="ql-inline-citation" data-cite="13"></span> In the case of <a href="https://www.investopedia.com/terms/i/insolvency.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">insolvency</a>, the equity holders bear the losses first.<span class="ql-inline-citation" data-cite="14"></span><br> </p> <div id="mntl-sc-block_23-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_24-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_25-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-note" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_3-0" class="comp mntl-sc-block-callout-heading mntl-text-block with-title">Stress Tests</h3> <div id="mntl-sc-block-callout-body_3-0" class="comp mntl-sc-block-callout-body mntl-text-block"><p>The European Banking Authority conducts <a href="https://www.investopedia.com/terms/b/bank-stress-test.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">stress tests</a> using the CET1 ratio from time to time to understand how much capital banks would have left in the adverse event of a financial crisis. The results of these tests have shown that most banks would be able to survive a crisis.<span class="ql-inline-citation" data-cite="11"></span></p></div></div></div> <span class="heading-toc" id="toc-calculating-cet1-capital"></span><h2 id="mntl-sc-block_26-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Calculating CET1 Capital </span> </h2> <p id="mntl-sc-block_27-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Tier 1 capital is calculated as Common Equity Tier 1 capital plus Additional Tier 1 capital. CET1 comprises a bank’s core capital and includes common shares, stock surpluses resulting from the issue of common shares, <a href="https://www.investopedia.com/terms/r/retainedearnings.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">retained earnings</a>, common shares issued by subsidiaries and held by third parties, and <a href="https://www.investopedia.com/terms/a/accumulatedother.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">accumulated other comprehensive income</a> (AOCI).<span class="ql-inline-citation" data-cite="6"></span> </p> <div id="mntl-sc-block_28-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_29-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Additional Tier 1 capital is defined as instruments that are not common equity but are eligible for inclusion in this tier.<span class="ql-inline-citation" data-cite="6"></span> An example of AT1 capital is a <a href="https://www.investopedia.com/terms/c/contingentconvertible.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">contingent convertible</a> or <a href="https://www.investopedia.com/terms/h/hybridsecurity.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">hybrid security</a>, which has a perpetual term and can be converted into <a href="https://www.investopedia.com/terms/e/equity.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">equity</a> when a trigger event occurs. An event that causes a security to be converted to equity occurs when CET1 capital falls below a certain threshold. </p> <div id="mntl-sc-block_30-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_31-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> This measure is better captured by the CET1 ratio, which measures a bank’s capital against its assets. Because not all assets have the same risk, the assets acquired by a bank are weighted based on the <a href="https://www.investopedia.com/terms/c/creditrisk.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">credit risk</a> and <a href="https://www.investopedia.com/terms/m/marketrisk.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">market risk</a> that each asset presents. </p> <div id="mntl-sc-block_32-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <blockquote id="mntl-sc-block_33-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> <strong>Common Equity Tier 1 Ratio</strong> = Common Equity Tier 1 Capital ÷ Risk-Weighted Assets </blockquote> <div id="mntl-sc-block_34-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_35-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> For example, a <a href="https://www.investopedia.com/terms/g/government-bond.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">government bond</a> may be characterized as a "no-risk asset" and given a zero percent risk weighting. On the other hand, a <a href="https://www.investopedia.com/terms/s/subprime_mortgage.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">subprime mortgage</a> may be classified as a high-risk asset and weighted 65%. According to Basel III capital and liquidity rules, all banks must have a minimum CET1 to RWAs ratio of 4.5%.<span class="ql-inline-citation" data-cite="4"></span><br> </p> <div id="mntl-sc-block_36-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_37-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-how-are-tier-1-capital-and-cet1-capital-different"></span> <h2 class="mntl-sc-block-questionandanswer__question">How Are Tier 1 Capital and CET1 Capital Different?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>CET1 capital is one component of total Tier 1 capital. The other is known as additional Tier 1 capital (AT1). AT1 + CET1 = Tier 1 capital.</p></div> </div> <div id="mntl-sc-block_38-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_39-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-is-the-minimum-tier-1-capital-a-bank-can-have"></span> <h2 class="mntl-sc-block-questionandanswer__question">What Is the Minimum Tier 1 Capital a Bank Can Have?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>The Basel Accords spelled out the minimum capital requirements for banks. They must maintain a minimum capital ratio of 8%, of which 6% must be Tier 1 capital.<span class="ql-inline-citation" data-cite="12"></span></p></div> </div> <div id="mntl-sc-block_40-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_41-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-does-a-low-cet1-ratio-mean"></span> <h2 class="mntl-sc-block-questionandanswer__question">What Does a Low CET1 Ratio Mean?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>A low CET1 ratio implies an insufficient level of Tier 1 capital. In such a case, a bank may not be able to absorb a financial shock and may need to be bailed out quickly in the event of a financial crisis.</p></div> </div> <div id="mntl-sc-block_42-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-the-bottom-line"></span><h2 id="mntl-sc-block_43-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> The Bottom Line </span> </h2> <p id="mntl-sc-block_44-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Common Equity Tier 1 (CET1) is a component of Tier 1 capital covering bank holdings such as cash and stock. It is the highest quality of regulatory capital, and banks are expected to meet minimum CET1 ratios, as established by financial regulators. Any losses incurred by banks during a crisis are first deducted from CET1. </p></div> <div id="textnote-placeholder_1-0" class="comp textnote-placeholder mntl-block"></div> <div id="textnote_1-0" class="comp textnote mm-ads-gpt-adunit gpt textnote "> <div id="textnote" class="wrapper" data-timed-refresh="30000" ></div> </div></div> </div><div class="loc article-post-content"><div id="article-sources_1-0" class="comp article-sources mntl-article-sources mntl-expandable-block" data-scroll-offset="100"><div class="loc toggle-content"><div id="mntl-article-sources__wrapper_1-0" class="comp mntl-article-sources__wrapper mntl-block article-sources__wrapper" data-click-tracked="true"><div id="mntl-article-sources__heading_1-0" class="comp mntl-article-sources__heading mntl-text-block article-sources__heading">Article Sources</div> <div id="mntl-article-sources__icon-wrapper_1-0" class="comp mntl-article-sources__icon-wrapper mntl-block article-sources__icon-wrapper"><div id="article-sources__show-icon_1-0" class="comp article-sources__show-icon mntl-block"></div> <div id="article-sources__hide-icon_1-0" class="comp article-sources__hide-icon mntl-block"></div></div></div> </div><div class="loc expandable-content"> <div id="article-sources__disclaimer_1-0" class="comp article-sources__disclaimer mntl-block">Investopedia requires writers to use primary sources to support their work. 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"<a href="https://www.federalreserve.gov/publications/2018-11-supervision-and-regulation-report-appendix-a.htm" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Federal Reserve Supervision and Regulation Report - November 2018</a>."</p></li> <li class="mntl-sources__source" id="citation-2"><p>Bank for International Settlements. "<a href="https://www.bis.org/bcbs/basel3.htm" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Basel III: International Regulatory Framework for Banks</a>."</p></li> <li class="mntl-sources__source" id="citation-3"><p>Bank for International Settlements. "<a href="https://www.bis.org/bcbs/publ/d424_hlsummary.pdf" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Basel Committee on Banking Supervision: High-level summary of Basel III reforms</a>." Pages 1-2.</p></li> <li class="mntl-sources__source" id="citation-9"><p>Federal Reserve Bank of San Francisco. "<a href="https://www.frbsf.org/research-and-insights/publications/doctor-econ/2001/09/bank-capital/" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">What Is Bank Capital and What are the Levels or Tiers of Capital?</a>"</p></li> <li class="mntl-sources__source" id="citation-6"><p>Bank for International Settlements. "<a href="https://www.bis.org/fsi/fsisummaries/defcap_b3.pdf" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Definition of Capital in Basel III – Executive Summary</a>." Page 1.</p></li> <li class="mntl-sources__source" id="citation-10"><p>Federal Reserve Bank of Boston. "<a href="https://www.bostonfed.org/-/media/Documents/events/2023/FR-STRC/Partial-Effects-of-Fed-Tightening.pdf" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Partial Effects of Fed Tightening on U.S. Banks’ Capital</a>."</p></li> <li class="mntl-sources__source" id="citation-13"><p>Bank for International Settlements. "<a href="https://www.bis.org/basel_framework/chapter/RBC/30.htm?tldate=20211127&inforce=20191215" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Risk-based Capital Requirements</a>."</p></li> <li class="mntl-sources__source" id="citation-14"><p>FDIC. "<a href="https://www.fdic.gov/resources/supervision-and-examinations/examination-policies-manual/section2-1.pdf" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Capital</a>."</p></li> <li class="mntl-sources__source" id="citation-11"><p>European Banking Authority. "<a href="https://www.eba.europa.eu/publications-and-media/press-releases/eba-publishes-results-its-2023-eu-wide-stress-test" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">EBA Publishes the Results of its 2023 EU-wide Stress Test</a>."</p></li> <li class="mntl-sources__source" id="citation-4"><p>Bank for International Settlements. "<a href="https://www.bis.org/bcbs/publ/d424_hlsummary.pdf" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">Basel Committee on Banking Supervision: High-level summary of Basel III reforms</a>." Page 9.</p></li> <li class="mntl-sources__source" id="citation-12"><p>Cornell University, Legal Information Institute. "<a href="https://www.law.cornell.edu/cfr/text/12/3.10" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="externalLink" data-ordinal="1">§ 3.10 Minimum Capital Requirements</a>."</p></li> </ol> </div> </div></div> <div id="performance-marketing_1-0" class="comp performance-marketing mntl-block "><div id="gam-ad-table_1-0" class="comp gam-ad-table ad-table mntl-block"></div></div> </div><div class="loc article-right-rail"><div id="mm-ads-right-rail_1-0" class="comp mm-ads-right-rail mntl-block"><div id="sc-billboard-group_1-0" class="comp sc-billboard-group mntl-block js-scads-inline-content"><div id="mntl-block_1-0" class="comp mntl-block"><div id="fin-billboard1-sticky-dynamic_1-0" class="comp fin-billboard1-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="1050" style="height: 1050px;"><div id="mm-ads-sc-sticky-square-ad_1-0" class="comp mm-ads-sc-sticky-square-ad billboard1-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-flex-1" class="wrapper" data-timed-refresh="30000" data-type="square" data-pos="atf" data-priority="2" data-sizes="[[300, 250],[300, 600],[300, 1050],[160, 600]]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_2-0" class="comp mntl-block"><div id="fin-billboard2-sticky-dynamic_1-0" class="comp fin-billboard2-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="600" style="height: 600px;"><div id="mm-ads-sc-sticky-square-ad_2-0" class="comp mm-ads-sc-sticky-square-ad billboard2-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-flex-2" class="wrapper" data-timed-refresh="30000" data-type="square" data-pos="btf1" data-priority="3" data-sizes="[[300, 250],[300, 600],[300, 601],[160, 600], "fluid"]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_3-0" class="comp mntl-block"><div id="fin-billboard3-sticky-dynamic_1-0" class="comp fin-billboard3-sticky-dynamic mm-ads-sc-sticky-square scads-to-load right-rail__item" data-height="600" style="height: 600px;"><div id="mm-ads-sc-sticky-square-ad_3-0" class="comp mm-ads-sc-sticky-square-ad billboard3-dynamic mm-ads-dynamic-square mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit mm-ads-square gpt square dynamic"> <div id="square-fixed" class="wrapper" data-timed-refresh="30000" data-type="square" data-pos="btf2" data-priority="5" data-sizes="[[300, 250],"fluid"]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div></div> <div id="mntl-block_4-0" class="comp mntl-block"><div id="native_1-0" class="comp native mm-ads-native " style="--native-ad-height: auto"><div id="mm-ads-native__adunit_1-0" class="comp mm-ads-native__adunit mm-ads-gpt-dynamic-adunit mm-ads-gpt-adunit scads-to-load gpt native dynamic"> <div id="native" class="wrapper" data-timed-refresh="30000" data-type="native" data-pos="native" data-priority="4" data-sizes="[[1, 3],"fluid"]" data-rtb="false" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div> <div id="mid-bankingtable_1-0" class="comp mid-bankingtable finance-ad-table mm-ads-ad-table mntl-block dynamic-inline" data-ad-table="mid-bankingtable"><div id="mm-ads-ad-table__heading_1-0" class="comp mm-ads-ad-table__heading mntl-text-block">Open a New Bank Account</div> <div id="mm-ads-ad-table__disclosure_1-0" class="comp mm-ads-ad-table__disclosure mntl-block" data-tracking-container="true"><button id="mm-ads-ad-table__disclosure-label_1-0" class="comp mm-ads-ad-table__disclosure-label mntl-button"> Advertiser Disclosure </button> <div id="mm-ads-ad-table__disclosure-description_1-0" class="comp mm-ads-ad-table__disclosure-description mntl-block"><div id="mm-ads-ad-table__disclosure-close_1-0" class="comp mm-ads-ad-table__disclosure-close mntl-text-block">×</div> <div id="mm-ads-ad-table__disclosure-content_1-0" class="comp mm-ads-ad-table__disclosure-content mntl-text-block">The offers that appear in this table are from partnerships from which Investopedia receives compensation. 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