WSJ: U.S. is expected to direct about 10 of the 19 banks to boost their capital

Discussion in 'Wall St. News' started by ASusilovic, May 4, 2009.

  1. WASHINGTON -- The U.S. is expected to direct about 10 of the 19 banks undergoing government stress tests to boost their capital, according to several people familiar with the matter, a move that officials hope will quell fears about the solvency of the financial sector.

    The exact number of banks affected remains under discussion. It could include Wells Fargo & Co., Bank of America, Citigroup Inc. and several regional banks. At one point, officials believed as many as 14 banks would need to raise more funds to create a stronger buffer against future losses, these people said, but that number has fallen in recent days.

    Representatives from Wells, Bank of America and Citi declined to comment.

    http://online.wsj.com/article/SB124148189109785317.html