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December 21, 2012
16:11 EDTTFSLMemorandum of understanding lifted from Third Federal Savings & Loan
Third Federal Savings & Loan Association of Cleveland, a subsidiary of TFS Financial Corporation (TFSL), received written notification today that the memorandum of understanding put in place on February 7, 2011, by the Office of Thrift Supervision = on Third Federal, has been terminated by the Office of the Comptroller of the Currency. The issues in the terminated MOU applied to the thrift operations of Third Federal. The MOU impacting TFS Financial Corporation and its mutual holding company also put in place on February 7, 2011, by the OTS, is still active. Now under the regulation of the Federal Reserve, the MOU covers enterprise risk management and places restrictions on stock dividends and buybacks. The MOU will remain in effect until terminated, suspended, or modified by the Federal Reserve.
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June 29, 2015
16:05 EDTTFSLThird Federal Savings reports results of 2015 company-run stress test
Third Federal Savings and Loan Association of Cleveland, the wholly owned subsidiary of TFS Financial, reported the results of its 2015 company-run stress test conducted in accordance with regulations of the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency under the Dodd-Frank Wall Street Reform and Consumer Protection Act. These company-run stress tests are designed to help assess whether financial institutions have sufficient capital to absorb losses and support operations using a hypothetical stressed scenario described by the Federal Reserve, over a nine-quarter projection period from October 1, 2014 to December 31, 2016. The stress testing requirements and expectations for financial institutions with assets between $10B and $50B, are significantly reduced compared to those with assets of $50B or more. The medium-sized companies, including the Association, are not subject to the Federal Reserve’s supervisory-run stress tests or the Federal Reserve’s annual Comprehensive Capital Assessment and Review, are not required to submit an annual capital plan, and are not subject to a supervisory approval or denial of their stress test results.

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