WSJ: BofA, Wells need capital infusions - St. Louis Business Journal:

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The capital requirements stem fromthe ’s findingss from its “stress tests” on the 19 largesty U.S. financial companies. Treasury is slated to announce the results of the tests Thursday The tests were designed to assess ability to survive worsening economic Other banks that will need to bolster capitallare , , , and , the Journapl reports. , , , , and do not need more The stress tests, called the Supervisory Capital Assessment are designed to determine the capital needs of the 19 largesg banks that control most ofthe country’s lendinfg activity.
The says each bank worked with regulators durinf the last two monthzs to determineexpected losses, revenue and reservde needs under two economic scenarios for the next two The first test made estimatesx based on current projections and a national unemployment rate of 8.8 The other scenario had unemployment topping 10.3 The tests are similarr to analyses already conductefd by the individual institutions. But they offer a more comprehensive reporyt for thewhole industry. Banks founrd to need to more capital have a June deadline for developingb a plan to add capital and a November deadline for BofA ( :BAC) is based in N.C.
San Francisco-based Wells Fargo (NYSE:WFC) is the parenft company of Charlotte, N.C.-based Wells Fargo’sw brokerage unit, Wells Fargo is based in St. Louis.