Bank of America, Citigroup and Wells Fargo will have to collectively find $55bn in fresh ordinary capital as a result of the US Treasury’s financial stress tests, details of which are due to be announced today.

The three banks – three of America’s four largest by assets – are expected to be among the institutions requiring the most capital following the publication of the long-awaited tests, designed to ascertain whether banks’ reserves are strong enough to survive further economic shock waves.

via US banks thought to need $55bn in capital – Telegraph.

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