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NEWS ABOUT: stress tests

stress tests stories: 31 news summaries

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(Newser) - The Treasury may have to expand its toxic asset programs and repeat stress tests, particularly for smaller banks, a US bailout watchdog panel finds. While larger banks have begun to recover, smaller financial institutions remain exposed to billions in losses from outstanding commercial property loans and are still unable to... More »

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Congressional oversight • watchdog • Treasury Department • bailout • financial crisis • TARP • stress tests

 Report Seeks More 
 Bank Stress Tests 

First round may have underestimated unemployment

Jun 9, 09 8:52 AM CDT
(Newser) - The US should run a second round of bank stress tests if it turns out the government was overly optimistic about the economy in the first round, says a report to be presented to Congress today. The Congressional Oversight Panel, which monitors the bailout, applauded the tests thus far, but... More »

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Congress • recession • bank • unemployment • economy • report • stress tests • Elizabeth Warren

Banks Raised $56B Since Tests: Geithner

Stress assessments boost confidence, have helped markets heal

May 20, 09 2:16 PM CDT
(Newser) - Government stress tests boosted confidence in the nation’s biggest banks and helped them raise $56 billion in needed capital, Treasury Secretary Tim Geithner told Congress today. His remarks were met by bipartisan skepticism, with members noting that smaller institutions still face severe challenges, the Wall Street Journal reports. “... More »

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bank • Chris Dodd • Richard Shelby • Senate Banking Committee • Obama administration • Timothy Geithner • TARP • stress tests

BofA Raises $13.5B
With Share Sale

Bank takes big stride towards meeting 'stress test' condition

May 20, 09 4:55 AM CDT
(Newser) - Bank of America has sold shares to fill $13.5 billion of the $34 billion capital hole the Fed's "stress test" uncovered in the bank's balance sheet, Marketwatch reports. The bank—taking advantage of a 40% jump in its share price over the last month—issued 1.25 billion... More »

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Bank of America • Federal Reserve • bank • shares • capital markets • stress tests

(Newser) - Small and midsize banks across America could face $100 billion in losses from commercial real-estate loans next year, shrinking their capital in most cases to scary lows. The Wall Street Journal conducted worst-case-scenario stress tests on 900 banks and found crises looming far beyond Wall Street. Small and midsize banks... More »

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credit crisis • commercial real estate • banks • stress tests

Some Bank Bosses Face Axe: FDIC Chief

After feds' stress tests comes 'evaluation process,' Bair says

May 15, 09 1:00 PM CDT
(Newser) - An “evaluation process” following banks’ stress tests will lead to the sacking of some execs, Federal Deposit Insurance Corp. chair Sheila Bair tells Bloomberg. “Management needs to be evaluated,” she noted. “Have they been doing a good job? Are there people who can do a better... More »

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bank • FDIC • executives • firing • Sheila Bair • stress tests

OPINION

This Rally Is for Suckers, Courtesy of the Fed


May 12, 09 9:37 AM CDT
(Newser) - The Dow has soared a whopping 30% since March 9, but Andy Kessler doesn’t think the good times are here again. “This sure smells to me like a sucker’s rally,” he writes in the Wall Street Journal. Earnings aren’t up. The market is just... More »

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Ben Bernanke • stock market • Federal Reserve • Treasury Department • bear market • bull market • stress tests

Bernanke: Risks Remain Despite Stress Tests

But Fed chief is encouraged by
bank response

May 12, 09 2:31 AM CDT
(Newser) - Big banks' response to "stress tests" has been encouraging but they will need to watch out for risks not covered by the tests, Ben Bernanke warned regulators yesterday. The Fed chief—signaling that investment giants like Goldman Sachs can expect tighter scrutiny—said banks should self-test for potentially disastrous... More »

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Ben Bernanke • Federal Reserve • bank • credit crisis • banking industry • financial crisis • TARP • stress tests

(Newser) - In the wake of reports that complaining banks cajoled the Federal Reserve into sweetening some stress test results, the Wall Street Journal looks at the hard numbers. Citigroup, for example, was originally supposed to raise $35 billion; the number eventually released was $5.5 billion. The total for Bank... More »

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Citigroup • Bank of America • Federal Reserve • Wells Fargo • Treasury Department • banking industry • TARP • stress tests

OPINION

 Time to Stress Out 
 About Stress Tests 

Washington is leading us to a second crisis: Krugman

May 8, 09 7:22 AM CDT
(Newser) - Sure, yesterday's release of the stress tests' results felt pretty anti-climatic. But while bankers might be reassured, Americans have no reason to be, writes Paul Krugman. For the New York Times columnist, the less-than-rigorous stress tests are part and parcel of an Obama administration strategy to "muddle through the... More »

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Barack Obama • Wall Street • recession • bank failure • Obama administration • recapitalization • Timothy Geithner • stress tests

Bank Wrangling Softened Stress Test Results

Fed massaged some figures to portray banks as healthy

May 8, 09 5:40 AM CDT
(Newser) - Some major banks managed to cajole the government into using more optimistic figures in its "stress test" results, insiders tell the Washington Post.  Banks like Citigroup—eager to show they were healthy and didn't need more help from the government—were given credit for pending moves to raise... More »

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Bank of America • Wells Fargo • bank • Treasury Department • banking industry • financial crisis • TARP • stress tests

(Newser) - It's official: The stress-test results are out, and the feds say 10 of the nation's 19 biggest banks need to raise a total of $75 billion in capital to weather a future downturn, the Wall Street Journal reports. The banks, five of which are regional, are:
  • Bank of America:
... More »

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Ben Bernanke • Bank of America • Treasury Department • banks • banking industry • Timothy Geithner • stress tests

Market Open

 Stocks Up on Sunny Jobs Data 


May 7, 09 8:43 AM CDT
(Newser) - Stocks were up again this morning, after promising unemployment numbers, the Wall Street Journal reports. The Dow rose 53 points, while the Nasdaq and S&P advanced 0.5% and 1% respectively. Wal-Mart reported a strong quarter, pulling retail stocks higher, while banks shot up ahead of stress test... More »

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stock market • Dow Jones • unemployment • Nasdaq • S&P 500 • Wal-Mart • stress tests

OPINION

Tests Replace 'Uncertainty With Transparency'

Tests on the biggest banks will make raising capital, paying it back easier

May 7, 09 7:56 AM CDT
(Newser) - In an op-ed piece in the New York Times today, Timothy Geithner positions the stress tests—whose results are released officially today—as a way to restore longer-term confidence in the aftermath of the "tentative stability" achieved by the last administration. "We chose a strategy to lift the... More »

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bailout • Obama administration • banks • financial crisis • Timothy Geithner • stress tests

 Stress-Tested Banks 
 Need Just $100B 

Investors find causes for optimism in capitalization news

May 7, 09 7:25 AM CDT
(Newser) - Leaked results of the stress tests on America's biggest banks separate sufficiently capitalized banks—including JPMorgan Chase, MetLife, AmEx, and Goldman Sachs—from underfunded ones such as BofA, Wells Fargo, and Citi. Bank shares rose sharply yesterday and today, and some investors said the results were better than they feared.... More »

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Ben Bernanke • Goldman Sachs • Federal Reserve • recession • bank • Treasury Department • JPMorgan Chase • banks • Timothy Geithner • TARP • MetLife • stress tests

MARKETS

 Banks Spur Gains; Dow Up 102 

Some institutions gain despite poor stress test results

May 6, 09 3:08 PM CDT
(Newser) - Stocks were up today as investors digested the stress tests results, the Wall Street Journal reports. Regions Financial and Bank of America were higher, despite results that say they will need additional capital. JP Morgan Chase, which can meet its capital needs, also gained. The Dow gained 101.63 to... More »

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Dow Jones • Nasdaq • Walt Disney • S&P 500 • JPMorgan Chase • stress tests

 BofA Still Short  
 Whopping $34B 

Fed's findings mean government may end up as BofA's majority shareholder

May 6, 09 1:30 AM CDT
(Newser) - Treasury Department officials have told Bank of America that it's nearly $34 billion in capital short of a passing grade on its "stress tests," sources tell Reuters. The amount is more than triple earlier estimate of BofA's capital needs, and may force the bank to convert the non-voting... More »

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Bank of America • financial crisis • TARP • Ken Lewis • stress tests

MARKETS

 Stocks Fall Back; Dow Off 16 

Investors keep an eye on upcoming jobs, stress test reports

May 5, 09 3:19 PM CDT
(Newser) - Yesterday’s rally failed to carry stocks today, with traders nervously anticipating weekly and monthly employment reports as well as the bank stress-test results later this week, the Wall Street Journal reports. Bank of America rose 5.4%, while Wells Fargo dropped 3.3%. The Dow fell 16.09 to... More »

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Bank of America • Dow Jones • Wells Fargo • Nasdaq • S&P 500 • stress tests

(Newser) - The Obama administration is expected to tell 10 of 19 banks receiving "stress tests" to raise more capital as a buffer against possible dark days ahead, the Wall Street Journal reports. Down from a recent estimate that 14 banks needed more money, the list may include Wells Fargo, Bank... More »

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Citigroup • Bank of America • Wells Fargo • capital injection • TARP • stress tests

analysis

Stress Tests Expected to Show Confidence in Banks

Administration ready to say bailout worked

May 4, 09 6:46 AM CDT
(Newser) - The top US banks may not be as deep in the mud as analysts fear, government "stress tests" out Thursday are expected to show. Officials seem ready to argue that the nation's financial system is recovering and won't require more bailout funds from Congress. "None of these banks... More »

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recession • bank • bank failure • Obama administration • financial crisis • stress tests

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