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04-28-2009, 10:40 AM #1AprilGuest
Bank of America Corp. and Citigroup Inc. NEED MORE CAPITAL!
Give me a BREAK!!!!
U.S. Fed Says Citi, Bank of America Need More Capital, WSJ Says
By Chris Peterson
April 28 (Bloomberg) -- Bank of America Corp. and Citigroup Inc. are being told by U.S. regulators that they may need more capital as a result of the so-called stress tests, the Wall Street Journal reported, citing people familiar with the matter.
Bank of America's shortfall comes to billions of dollars, the newspaper reported; both banks are objecting to the Federal Reserve's preliminary report on the tests, and are expected to mount a detailed rebuttal, the Journal added.
Wells Fargo & Co, Fifth Third Bancorp and Regions Financial Corp. are all expected by analysts to need more capital, the Journal reported.
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