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U.S. Stress Test Capital Requirement Results Summary (Update1)

By Rebecca Christie and Alex Tanzi

May 6 (Bloomberg) -- Following is a summary of the capital requirements of 12 banks resulting from U.S. regulators’ stress tests, according to people familiar with the matter. The Federal Reserve is scheduled to release the results of the tests on the 19 largest U.S. banks tomorrow:


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Company                                    Capital Requirement
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Total               $66.5 to $67.5 Billion in additional capital
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Bank of America     Judged to need roughly $34.0 Billion in additional capital
Wells Fargo         Judged to need roughly $15.0 Billion in additional capital
GMAC                Judged to need roughly $11.5 Billion in additional capital
Citigroup           Judged to need roughly  $5.0 Billion in additional capital
Morgan Stanley      Judged to need roughly $1 to $2 Bil. in additional capital
Goldman             Judged not to need to raise additional capital
MetLife             Judged not to need to raise additional capital
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Company                                    Capital Requirement
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JPMorgan Chase      Judged not to need to raise additional capital
Bank of NY Mellon   Judged not to need to raise additional capital
American Express    Judged not to need to raise additional capital
Capital One         Judged not to need to raise additional capital
BB&T                Judged not to need to raise additional capital
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Company                          Government Capital Injections by Firm
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Bank of America     Targeted Investment Program $20 Billion on 01/16/09
                    Capital Purchase Program $10 Billion on 01/09/09*
                    Capital Purchase Program $15 Billion on 10/28/08
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Wells Fargo         Capital Purchase Program $25 Billion on 10/28/08
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GMAC                Automotive Industry Financing Program $5 Billion 12/29/08
                    GMAC has also received other financial assistance
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Company                     Government Capital Injections by Firm
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Citigroup           Targeted Investment Program $20 Billion on 12/31/08
                    Asset Guarantee Program $5 Billion on 01/16/09
                    Capital Purchase Program $25 Billion on 10/28/08
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Morgan Stanley      Capital Purchase Program $10 Billion on 10/28/08
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Goldman Sachs       Capital Purchase Program $10 Billion on 10/28/08
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MetLife             None
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JPMorgan Chase      Capital Purchase Program $25 Billion on 10/28/08
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Bank of NY Mellon   Capital Purchase Program  $3 Billion on 10/28/08
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Note: Dollar figures in billions
*This transaction was included in previous Transaction Report with
Merrill Lynch listed as the qualifying institution and a 10/28/2008
transaction date. The purchase of Merrill Lynch by Bank of America
was completed on Jan. 1, 2009 and this transaction under the CPP was
funded on Jan. 9, 2009.

To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net

Last Updated: May 6, 2009 20:53 EDT

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