Five biggest US banks told to raise $74.6 billion; fail “stress tests”
Saturday, May 9, 2009
The five largest United States banks need a total of US$74.6 billion in extra funds to increase their cash reserves, according to so-called "stress tests" conducted by regulators to determine whether the banks have enough capital to survive the ongoing recession.
"Our hope with today's actions is that banks are going to be able to get back to the business of banking," said...