Thursday, May 7, 2009

Bank of America Leads List of U.S. Banks Needing Capital:

By Kevin Crowley

May 7 (Bloomberg) -- Federal regulators plan to disclose today the results of stress tests designed to show which U.S. banks will require additional capital if the recession worsens.

The review of 19 companies has so far found that Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. are among those that need capital, while JPMorgan Chase & Co. and Goldman Sachs Group Inc. are among those that don’t, according to people familiar with the decisions.

Bank of America Corp. $34 Billion Wells Fargo & Co. $15 Billion GMAC LLC $11.5 Billion Citigroup Inc. $5 Billion Morgan Stanley $1 Billion - $2 Billion

American Express Co. No Additional Funds Bank of New York Mellon Corp. No Additional Funds BB&T Corp. No Additional Funds Capital One Financial Corp. No Additional Funds Goldman Sachs Group Inc. No Additional Funds JPMorgan Chase & Co. No Additional Funds MetLife Inc. No Additional Funds State Street Corp. No Additional Funds

Fifth Third Bancorp Not Yet Available KeyCorp Not Yet Available PNC Financial Services Group Inc. Not Yet Available Regions Financial Corp. Not Yet Available SunTrust Banks Inc. Not Yet Available U.S. Bancorp Not Yet Available

To contact the reporter on this story: Kevin Crowley in London at kcrowley1@bloomberg.net

Last Updated: May 7, 2009 13:00 EDT


http://www.bloomberg.com/apps/news?pid=20601103&sid=a9D6Yn5qX_dw&refer=us

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