Officials to Release Stress Test Results on May 7

Government officials have announced that results from their bank stress tests will be released on May 7. Regulators have also indicated that the results will include not only a macro view of the banking industry, but also specific figures on individual banks, including estimated losses for certain loan categories. Further, officials will also disclose which institutions will need further capital.

Minutes after the news was released, the Federal Reserve of St. Louis' President, Jim Bullard, made some interesting comments related to the tests. The regulator said that they are "doing best job they can on stress tests" and that while it will peak over 9%, the unemployment rate will not reach 10.8%, the high set in 1982.

Traders have been highly anticipating these bank figures as the results will provide an up-to-date snapshot on the banking environment. And considering that the current mess started in the financial sector, investors will be using the data to get an idea of where the broader economy could be heading next.

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