10 banks will be told they must raise money following the stress tests, reports WSJ.
Over the last few days, stress test results have been leaking out unevenly. Some of it’s been rather expected (Citigroup (C) and Bank of America (BAC) will both need to raise substantial amounts of cash), while other bits, such as Wells Fargo (WFC) needing money have been less so.
At one point, according to the report, as many as 14 banks were to have been given orders to raise money a number that’s come down in recent days — a testament to how this is all a lot of art, rather than science.
The government is obviously trying extremely hard to spin both the results and the leaks, saying that stress test failure does not constitute insolvency and that the tests should give the public confidence in the banking system.
Anyway, among the likely stress test winners: Goldman Sachs (GS) and JP Morgan (JPM)
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