Current version:   About the versions MAKE EMII.COM MY HOMEPAGE  
ETF
FX
1 
Current Page:1    

BofA, Others Need Massive Capital

05-07-2009

People & Companies in the News

Bank of America Corp. is said to need $34 billion of capital to withstand a deep economic downturn, and Citigroup Inc. may need as much as $10 billion, Reuters reports, citing a person familiar with the matter.

About 10 of the 19 big U.S. banks being stress-tested may need more capital, a person familiar with the official talks has said.

The sources were not authorized to speak because the banks’ stress test results have not yet been made public. Results are due late Thursday.

Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., JPMorgan Chase & Co., Bank of New York Mellon Corp. and American Express Co. were alleged not to need additional funds.

“The markets are telling us we’re in a recovery and the banks are beginning to heal,” William Isaac, former chairman of the Federal Deposit Insurance Corp., said in an interview today. The end of the stress tests after “three months of water torture” is providing investors some relief, he said.

For the complete story, click here.

http://www.reuters.com/article/ousiv/idUSL694313120090506

For additional coverage, click here.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ax42ejKB7gAs&refer=home

1 
Current Page:1    



Print Article      Email Article      Comment on This

    

Search Articles

     Advanced search >>

Free Newsletters

10.253.1.7

Advertising | About Us | Site Map

Terms & Conditions | Privacy Policy

© 2007 emii.com