SYNCHRONY FINANCIAL (NYSE:SYF) Files An 8-K Regulation FD Disclosure
Item 7.01
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Regulation FD Disclosure.
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Annual Report on Form 10-K for the year ended December 31, 2016,
(2016 Form 10-K) which included the presentation of certain
selected metrics and average balances for the years ended
December 31, 2016 and 2015 within Part II, Item 7, Managements
Discussion and Analysis of Financial Condition and Results of
Operation>based upon the use of daily averages. The Company
had previously used monthly averages for these periods as the
collection of daily averages involved undue burden and expense.
The change in method of calculation for these periods resulted in
immaterial changes to average loan receivables of less than 1%,
to net interest margin of less than 10 basis points, and to net
charge-offs as a percentage of average loan receivables,
including held for sale, of less than 5 basis points.
average balances for the years ended December 31, 2016 and 2015,
based upon the use of daily averages consistent with the
information included in the 2016 Form 10-K, is attached as
Exhibit 99.1 to this report.
Report on Form 8-K, including Exhibit 99.1, is furnished to Item
7.01 of Form 8-K and shall not be deemed to be filed for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended,
or otherwise subject to the liabilities of that section, nor
shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended, except as shall be expressly
stated by specific reference in such filing.
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Item 9.01
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Financial Statements and Exhibits.
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report:
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Number
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Description
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99.1
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Selected Quarterly Financial Data of the Company for
the years ended December 31, 2016 and 2015 |
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About SYNCHRONY FINANCIAL (NYSE:SYF)
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit. It offers its credit products through its subsidiary, Synchrony Bank (the Bank). Through the Bank, it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC), including certificates of deposit, individual retirement accounts (IRAs), money market accounts and savings accounts. The Company offers three types of credit products: credit cards, commercial credit products and consumer installment loans. The Company also offers a debt cancellation product. It offers two types of credit cards: private label credit cards and Dual Cards. SYNCHRONY FINANCIAL (NYSE:SYF) Recent Trading Information
SYNCHRONY FINANCIAL (NYSE:SYF) closed its last trading session down -0.14 at 36.63 with 3,122,336 shares trading hands.
