NEW YORK, March 13, 2012 — BNY Mellon, the global leader in investment management and investment services, today confirmed that the Federal Reserve did not object to its comprehensive capital analysis  and review. The company's annual capital plan includes the repurchase of up to $1.16 billion of outstanding common stock and the continuation of its 13 cents per quarter dividend over the next 12 months.

"We are pleased to be able to initiate this new stock repurchase program, which has been authorized by our Board of Directors," said Gerald L. Hassell, chairman, president and chief executive officer. "Our fee-based business model generates a significant level of excess capital, which allows us to invest in our businesses while maintaining flexibility to return capital to our shareholders."

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.8 trillion in assets under custody and administration and $1.26 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter @bnymellon.

The information presented in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which may be expressed in a variety of ways, including the use of future or present tense language, relate to, among other things, BNY Mellon's capital plans, including expectations with respect to the repurchase of shares of outstanding common stock and dividends, and BNY Mellon's business, including expectations regarding capital. These statements are based upon current beliefs and expectations and are subject to significant risks and uncertainties (some of which are beyond BNY Mellon's control). Factors that could cause BNY Mellon's results to differ materially can be found in the risk factors set forth in BNY Mellon's Annual Report on Form 10-K for the year ended December 31, 2011 and BNY Mellon's other filings with the Securities and Exchange Commission.  All statements in this press release speak only as of March 13, 2012, and BNY Mellon undertakes no obligation to update any statement to reflect events or circumstances after March 13, 2012 or to reflect the occurrence of unanticipated events.