salience
May 7, 2009
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U.S. Stress Test Capital Requirement Results Summary (Table)
2009-05-07 12:39:35.388 GMT
By Rebecca Christie and Alex Tanzi
May 7 (Bloomberg) -- Following is a summary of the capital requirements of 13 banks resulting from U.S. regulators’ stress tests, according to people familiar with the matter. The Federal Reserve is scheduled to release the results of the tests on the 19 largest U.S. banks later today:
Company Capital Requirement $66.5 to $67.5 Billion in additional capital:
Bank of America - Judged to need roughly $34.0 Billion in additional capital
Wells Fargo - Judged to need roughly $15.0 Billion in additional capital
GMAC - Judged to need roughly $11.5 Billion in additional capital
Citigroup - Judged to need roughly $5.0 Billion in additional capital
Morgan Stanley - Judged to need roughly $1 to $2 Bil. in additional capital
Goldman - Judged not to need to raise additional capital
MetLife - Judged not to need to raise additional capital
JPMorgan Chase - Judged not to need to raise additional capital
Bank of NY Mellon - Judged not to need to raise additional capital
Company Capital Requirement
American Express - Judged not to need to raise additional capital
Capital One - Judged not to need to raise additional capital
BB&T - Judged not to need to raise additional capital
State Street - Judged not to need to raise additional capital
Government Capital Injections by Firm
Bank of America
Targeted Investment Program $20 Billion on 01/16/09
Capital Purchase Program $10 Billion on 01/09/09*
Capital Purchase Program $15 Billion on 10/28/08
Wells Fargo
Capital Purchase Program $25 Billion on 10/28/08
GMAC
Automotive Industry Financing Program $5 Billion 12/29/08
GMAC has also received other financial assistance
Company Government Capital Injections by Firm
Citigroup - Targeted Investment Program $20 Billion on 12/31/08; Asset Guarantee Program $5 Billion on 01/16/09; Capital Purchase Program $25 Billion on 10/28/08
Morgan Stanley - Capital Purchase Program $10 Billion on 10/28/08
Goldman Sachs - Capital Purchase Program $10 Billion on 10/28/08
MetLife - None
JPMorgan Chase - Capital Purchase Program $25 Billion on 10/28/08
Bank of NY Mellon - Capital Purchase Program $3 Billion on 10/28/08
Note: Dollar figures in billions*This transaction was included in previous Transaction Report with Merrill Lynch listed as the qualifying institution and a 10/28/2008 transaction date. The purchase of Merrill Lynch by Bank of America was completed on Jan. 1, 2009 and this transaction under the CPP was funded on Jan. 9, 2009.*TFor Related News and Information:Wells Fargo earnings: WFC US
--Editor: Alex Tanzi
To contact the reporter on this story:Alex Tanzi in Washington at +1-202-624-1959 or atanzi@bloomberg.net
To contact the editor responsible for this story:Marco Babic at +65 6212-1886 or mbabic@bloomberg.net
