US banking regulators released results of the stress tests on the 19 biggest American financial institutions, saying which banks need additional capital to survive a worsening of the economy.
Here's a rundown of the results:
Capital Needs of Big U.S. Banks (in alphabetical order)
American Express [AXP 25.97 -1.17 (-4.31%) ]— None
Bank of America [BAC 13.51 0.82 (+6.46%) ]— $33.9 Billion
Bank of New York [BK 29.51 -0.95 (-3.12%) ]— None
BB&T [BBT 25.34 -2.36 (-8.52%) ]— None
Capital One Financial [COF 26.45 4.06 (+18.13%) ]— None
Citigroup [C 3.81 -0.05 (-1.3%) ]— $5.5 Billion
Fifth Third [FITB 5.37 0.092 (+1.74%) ]— $1.1 billion
GMAC [GJM 12.53 0.38 (+3.13%) ]— $11.5 Billion
Goldman Sachs [GS 133.73 -5.49 (-3.94%) ]— None
JPMorgan Chase [JPM 35.24 -1.98 (-5.32%) ]— None
KeyCorp [KEY 6.78 -0.91 (-11.83%) ]— $1.8 billion
MetLife [MET 31.75 -0.60 (-1.85%) ]— None
Morgan Stanley [MS 27.14 -1.37 (-4.81%) ]— $1.8 Billion
PNC Financial [PNC 44.47 -2.99 (-6.3%) ]— $0.6 Billion
Regions Financial [RF 5.23 -0.60 (-10.29%) ]— $2.5 billion
State Street [STT 37.83 -1.30 (-3.32%) ]— None
SunTrust Banks [STI 18.52 -0.97 (-4.98%) ]— $2.2 billion
U.S. Bancorp [USB 19.56 -1.73 (-8.13%) ]— None
Wells Fargo [WFC 24.76 -2.08 (-7.75%) ]— $13.7 Billion
© 2009 CNBC
Here's a rundown of the results:
Capital Needs of Big U.S. Banks (in alphabetical order)
American Express [AXP 25.97 -1.17 (-4.31%) ]— None
Bank of America [BAC 13.51 0.82 (+6.46%) ]— $33.9 Billion
Bank of New York [BK 29.51 -0.95 (-3.12%) ]— None
BB&T [BBT 25.34 -2.36 (-8.52%) ]— None
Capital One Financial [COF 26.45 4.06 (+18.13%) ]— None
Citigroup [C 3.81 -0.05 (-1.3%) ]— $5.5 Billion
Fifth Third [FITB 5.37 0.092 (+1.74%) ]— $1.1 billion
GMAC [GJM 12.53 0.38 (+3.13%) ]— $11.5 Billion
Goldman Sachs [GS 133.73 -5.49 (-3.94%) ]— None
JPMorgan Chase [JPM 35.24 -1.98 (-5.32%) ]— None
KeyCorp [KEY 6.78 -0.91 (-11.83%) ]— $1.8 billion
MetLife [MET 31.75 -0.60 (-1.85%) ]— None
Morgan Stanley [MS 27.14 -1.37 (-4.81%) ]— $1.8 Billion
PNC Financial [PNC 44.47 -2.99 (-6.3%) ]— $0.6 Billion
Regions Financial [RF 5.23 -0.60 (-10.29%) ]— $2.5 billion
State Street [STT 37.83 -1.30 (-3.32%) ]— None
SunTrust Banks [STI 18.52 -0.97 (-4.98%) ]— $2.2 billion
U.S. Bancorp [USB 19.56 -1.73 (-8.13%) ]— None
Wells Fargo [WFC 24.76 -2.08 (-7.75%) ]— $13.7 Billion
© 2009 CNBC
US banks attract $11.5bn in a day
By Francesco Guerrera and Anuj Gangahar in New York and Krishna Guha in Washington
Published: May 8 2009 16:18 | Last updated: May 8 2009 23:08
US banks moved rapidly to plug the sector’s $74.6bn capital hole uncovered by the government’s stress tests, with Morgan Stanley and Wells Fargo raising $11.5bn on Friday as investors returned to the battered financial sector.
The larger-than-expected offerings by Wells and Morgan Stanley bode well for the other eight banks, including Bank of America and Citigroup, that must add billions of dollars in capital to comply with the government’s demands to bolster their balance sheets.
By Francesco Guerrera and Anuj Gangahar in New York and Krishna Guha in Washington
Published: May 8 2009 16:18 | Last updated: May 8 2009 23:08
US banks moved rapidly to plug the sector’s $74.6bn capital hole uncovered by the government’s stress tests, with Morgan Stanley and Wells Fargo raising $11.5bn on Friday as investors returned to the battered financial sector.
The larger-than-expected offerings by Wells and Morgan Stanley bode well for the other eight banks, including Bank of America and Citigroup, that must add billions of dollars in capital to comply with the government’s demands to bolster their balance sheets.
