US regulators said 10 of the top 19 banks will need to raise a total of USD 74.6 billion in capital over the next six months. The USD 74.6 billion amount was smaller than what some analysts had estimated the results of the bank stress test to be.
Bank of America had the largest need at USD 33.9 billion. Citigroup needs USD 5.5 billion, Wells Fargo USD 13.7 billion, Morgan Stanley USD 1.8 billion, and GMAC USD 11.5 billion. In addition, Wells Fargo was found to need USD 13.7 billion.
The remaining five in need of capital to ensure survival belong to the regional bank stable. The names are SunTrust Banks of
Four banks - including Bank of America and Citibank - announced new or expanding stock offerings as a result of the stress tests.
Banks needing captial
- Bank of America $33.9 billion
- Wells Fargo $13.7 billion
- GMAC $11.5 billion
- Citigroup $5.5 billion
- Morgan Stanley $1.8 billion
Regions Financial $2.5 billion
Banks with no capital needs
- JPMorgan Chase
- Goldman Sachs
- State Street
- US Bancorp
- Bank of
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