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
Buffett: Wells Fargo Bank in an excellent location
Buffett EST on May 2 that out of Wells Fargo Bank is in an excellent location of the financial crisis.
Buffett said that the Wells Fargo strong, which will help the No. 4 U.S. major banks to attract customers and deposits, Wells Fargo shares on 5 March fell to 7.8 U.S. dollars, Buffett is on the increase in the price holders of Wells Fargo stock. Buffett to shareholders, said: "If the situation allows, I will buy Bank of the United States of America and Wells Fargo all the shares", the problem is that case, Berkshire will become a bank holding company. At present, holders of Berkshire has a large number of shares of the two banks.
According to the annual reports of Berkshire Hathaway - Hathaway more than 300 million shares held by Wells Fargo shares, worth 8.97 billion U.S. dollars, Wells Fargo is Berkshire - Hathaway holding company's second-largest number, after Coca-Cola.
Buffett said that companies like Chrysler, the United States of America and Wells Fargo bank profits high and strong profitability.
May. 2, 2009 Sina Finance
Buffett said that the Wells Fargo strong, which will help the No. 4 U.S. major banks to attract customers and deposits, Wells Fargo shares on 5 March fell to 7.8 U.S. dollars, Buffett is on the increase in the price holders of Wells Fargo stock. Buffett to shareholders, said: "If the situation allows, I will buy Bank of the United States of America and Wells Fargo all the shares", the problem is that case, Berkshire will become a bank holding company. At present, holders of Berkshire has a large number of shares of the two banks.
According to the annual reports of Berkshire Hathaway - Hathaway more than 300 million shares held by Wells Fargo shares, worth 8.97 billion U.S. dollars, Wells Fargo is Berkshire - Hathaway holding company's second-largest number, after Coca-Cola.
Buffett said that companies like Chrysler, the United States of America and Wells Fargo bank profits high and strong profitability.
May. 2, 2009 Sina Finance
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