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- Stress tests find 10 big banks need $75B
Stress tests find 10 big banks need $75B
- By ILS corp
- Published 05/13/2009
- ILSTV Stories
- Unrated
The Federal Reserve's findings, released on May 7, show the financial system, like the overall economy, is healing but not yet healed.
Some of the largest banks are stable, the tests found. But others need billions more in capital - a signal by regulators that the industry is vulnerable but viable. Government officials have said a stronger banking system is needed for an economic rebound.
Officials hope the tests will restore investors' confidence that not all banks are weak, and that even those that are can be strengthened. They have said none of the banks will be allowed to fail.
The banks that need more capital will have until June 8 to develop a plan and have it approved by their regulators.

