May 8 news, the Federal Reserve announced today for the 19 largest U.S. banks, "stress tests" of the final results, 10 to determine which banks need to raise as much as 74.6 billion U.S. dollars the total amount of funds.
"Pressure test" results show, Bank of America Corp was convicted of the need to raise 33.9 billion U.S. dollars of funds, Wells Fargo & Co need to fund-raising 13.7 billion U.S. dollars, Citigroup needs of 5.5 billion U.S. dollars, Morgan Stanley needs 18 billion dollars. Prior to that, Citigroup has announced a plan to be adopted the Government's preference shares will be converted into ordinary shares of the ways to improve its ratio of tangible common stock.
Major local banks, Fifth Third Bancorp needs of 1.1 billion U.S. dollars to raise funds, KeyCorp needs of 1.8 billion U.S. dollars of financing, PNC Financial Services Group needs 600 million U.S. dollars, Regions Financial Corp needs of 2.5 billion U.S. dollars, SunTrust Banks Inc needs of 2.2 billion U.S. dollars . In addition, GMAC LLC also need funds to raise 11.5 billion U.S. dollars.
The test results indicate that, Goldman Sachs Group, JP Morgan Chase, Bank of New York Mellon Corp, MetLife Inc, American Express, State Street Corp, BB & T Corp, US Bancorp and Capital One Financial Corp was convicted do not need to raise more funds.
May. 8, 2009
