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WASHINGTON (Reuters) - The Bank of New York Mellon Corp (BK.N) will pay $6.6 million to resolve civil charges after it miscalculated its risk-based capital ratio, federal regulators said on Thursday.
The Securities and Exchange Commission said the bank broke the capital rules by excluding from its calculations approximately $14 billion in collateralized loan obligation assets. The bank is settling the case without admitting or denying the charges.
Reporting by Sarah N. Lynch; Editing by Chris Reese