The number of banks that will need more capital has grown. Now it looks more like 10 banks that underwent the government stress-tests are undercapitalized, possibly among them Wells Fargo, Bank of America, Citigroup and some regional banks, reports WSJ. The good news seems to be that the problems the stress tests are revealing aren’t as bad as analysts had been saying. Clearing out some of that fear contributed to Monday market gains and the S&P 500 entered positive territory for the year for the first time in months.
About 10 Banks May Need More $ After Gov Stress Test
By Ben Popken May 5, 2009
More From Consumerist
- Wells Fargo’s High-Pressure Sales Strategy Probed By Federal Regulators
- Airbnb Hosts Having Difficulty Refinancing Homes
- Why Are There Still So Many Bank Branches Everywhere? Because You Keep Going.
- Wells Fargo CEO John Stumpf To Forfeit $41M, Forgo Salary To Answer For Scandal
- Banks Turned Account Overdraft Fees Into $11.16B In Revenue Last Year