US Stress Tests Released: 10 Banks Need More Money

The much anticipated release of the US Banks Stress Tests has arrived and the leaks throughout the last few weeks have been confirmed, with some additonal releases. The USD/JPY initially received a bid on the release. The highlights of the release were as follows:

• Fed Finds 10 US Banks need to raise $74.6B in total capital.
• Bank of America (BAC) needs $33.9B.
• Sun Trust (STI) needs $2.2B.
• PNC (PNC) needs $600M.
• BB&T (BBT), State Street (STT), American Express (AXP), Capital One Financial (COF), MetLife (MET) and Bank of NY Mellon (BK) do not need capital.
• Citibank (C) needs to raise $5.5B.
• KeyCorp (KEY) needs $1.8 Bank
• Wells Fargo (WFC) needs $13.7B.
• JP Morgan (JPM) and Goldman Sachs (GS) do not need additional capital.

Subscribe by RSS Subscribe by Email