Stress tests show 10 banks need $75 billion in capital
The Federal Reserve released stress test results showing 10 of 19 large banks require about $75 billion in new capital to endure a deeper recession. Bank of America leads with $33.9 billion, followed by Wells Fargo, GMAC, Citigroup, and Morgan Stanley.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Santa Barbara Wildfire Forces Mass Evacuations, Homes Burned
A fast moving Sundowner sparked a massive blaze in Santa Barbara California driving 13 000 people from their homes and destroying dozens of residences Governors Schwarzenegger said many homes were lost and 1 400 firefighters plus aircraft battled the out of control fire with several injuries reported including burn and smoke related injuries. winds that could return kept crews alert as evacuations continued.
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Santa Barbara
Calif
Paradise
Arnold Schwarzenegger
Tom Morse
Mission Canyon Heights
American Riviera
Oprah Winfrey
Montecito
Santa Ynez Mountains
Santa Barbara County
Tom Franklin
Los Angeles
Major U.S. banks face stress tests to gauge health
Nineteen banks including JPMorgan Chase Citigroup Bank of America Wells Fargo Goldman Sachs Morgan Stanley MetLife PNC U.S. Bancorp BNY Mellon GMAC SunTrust State Street Capital One BB T Regions Amex Fifth Third and KeyCorp were tested by regulators led by the Federal Reserve. The two year projections assume ongoing recession and possible worsening conditions. Results will guide capital needs with six months to raise funds if needed and potential conversion of government stakes into common stock to bolster losses protection.
MENTIONED IN THIS ARTICLE
Bank of America Corp
Wells Fargo & Co
Gmac LLC
Citigroup Inc
Morgan Stanley
Regions Financial Corp
Birmingham
Ala
SunTrust Banks Inc
Atlanta
KeyCorp
Cleveland
Fifth Third Bancorp
Cincinnati
PNC Financial Services Group Inc
Pittsburgh
Kevin Logan
U.S
Dresdner Kleinwort
Jpmorgan Chase & Co
Goldman Sachs Group Inc
MetLife Inc
U.S. Bancorp
Bank of New York Mellon Corp
State Street Corp
Capital One Financial Corp
Bb&t Corp
American Express Co
Federal Reserve
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Bank of America
Wells Fargo
THE
Associated Press
GMAC
Federalreserve.gov
Keith D. Cullom
Mission Canyon
Reece War
Ecu
Ds Ue Vliet
Odessa
First Presbyterian Church
N. Sam Houston
Yolanda Fish
P‘s
E. University
LenNox
Dave Lennox
Cort Systems
Aise Clactee Glass
Acc
Divis
Janet Russell