BofA (BAC) and Citigroup (C) In Need Of More Capital
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According to reports from the Wall Street Journal, regulators have told Bank of America (NYSE: BAC) and Citigroup (NYSE: C) that they may need to raise more capital based on results of the bank stress tests.
Bank of America's capital shortfall, based on the stress scenarios, amounts to billions.
Executives at both banks are objecting to the preliminary findings, with Bank of America's appeal expected by Tuesday.
Analysts also consider Regions Financial Corp. (NYSE: RF), Fifth Third Bancorp (Nasdaq: FITB) and Wells Fargo & Co. (NYSE: WFC) to be among the leading contenders for more capital.
Link to WSJ Article
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Comments
dont fall to the sale off
To many people are going to fall to the mass sale off. BofA will be just fine this stock should be a hold or better at a buy right now while the price is cheap. This is a great bank with alot of room for growth. It will be with us for years to come
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BULL
DUMB--DUMB on Apr 28, 2009 09:37 PMWSJ HASN'T GOT ANYTHING RIGHT YET. THEY ARE WAY OFF BASE. YOU ARE THE ONLY ONE READING THEM. BET THEY ARE WRONG.