BofA (BAC) and Citigroup (C) In Need Of More Capital
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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