Summary
Capital One Financial Corporation (COF) filed an 8-K on June 15, 2017, primarily to furnish its monthly charge-off and delinquency metrics for the month ended May 31, 2017. This filing is part of Capital One's commitment to providing timely operational data to investors under Regulation FD. The company announced a change in its reporting schedule for these metrics, stating that quarterly charge-off and delinquency data will now be provided concurrently with their quarterly earnings announcements, beginning with the data for June 30, 2017. Investors should note that this information is furnished, not filed, meaning it's not subject to the same liability under Section 18 of the Securities Exchange Act of 1934. While the specific metrics for May 2017 are provided in Exhibit 99.1, the key takeaway for investors is the shift in the cadence of reporting these important credit quality indicators. This change aims to integrate the disclosure of these operational metrics more closely with the company's overall financial results, potentially providing a more holistic view of credit performance at key financial reporting intervals.
Key Highlights
- 1Capital One Financial Corp (COF) filed an 8-K on June 15, 2017.
- 2The filing furnishes monthly charge-off and delinquency metrics for May 31, 2017.
- 3The company is changing its reporting schedule for these metrics.
- 4Quarterly charge-off and delinquency data will be provided alongside quarterly earnings announcements starting with the June 30, 2017 metrics.
- 5Information furnished under Item 7.01 is not considered 'filed' for certain regulatory purposes.
- 6The disclosure is intended to comply with Regulation FD.
- 7Exhibit 99.1 contains the detailed monthly charge-off and delinquency data.