Huntington Bancshares (HBAN) disclosed it is repositioning a portion of its corporate debt investment securities portfolio. Huntington completed the sale of approximately $1.0B of corporate debt investment securities and associated hedges, which will result in a pre-tax loss on the sale of the securities of approximately $20M, which will be recognized in Q4 within noninterest income “and which will be beneficial to common equity tier 1 capital.” Huntington intends to reinvest the proceeds from the sale in 0% risk-weighted investment securities, with an expected earn-back from the transaction of approximately two years.
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