Ten of 19 Stress Test Banks Need Capital: Report

By Xana O'Neill
|  Tuesday, May 5, 2009  |  Updated 10:14 AM CDT
View Comments (
)
|
Email
|
Print
Blame Them For Your Empty Wallet

Getty Images

The U.S. will likely tell 10 of the 19 major financial institutions involved in government stress tests to increase their capital in order to protect against potential future economic losses.

advertisement
Photos and Videos
More Photos and Videos

The U.S. will likely tell 10 of the 19 major financial institutions involved in government stress tests to increase their capital in order to protect against potential future economic losses, according to a report.

Though the exact number of banks affected remains unclear, the final list will most likely include Wells Fargo, Bank of America and Citigroup, the Wall Street Journal reported.

The Obama administration announced the stress tests in February as a way to evaluate banks' ability to hold up against future losses and the results aren't as bad as analysts at first predicted.

Officials at one point believed as many as 14 banks could be affected, the Journal reported.

Stress tests were mostly conducted by the Fed and applied to any bank holding company that had more than $100 billion in assets with the purpose of ensuring major institutions had enough capital to continue lending if the economy worsened in the future.

The Fed is slated to release the results of the stress tests on Thursday.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get NBCDFW on Mobile!
Get NBCDFW's free news and weather... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out