Morgan Stanley and Wells Fargo sold more than $15 billion of shares and
bonds, as the two companies rushed to the head of the line of banks looking to
raise funds following government stress tests.
Bank of America Corp got in line too, saying it plans to sell 1.25 billion shares to help meet what the government deemed a $33.9 billion capital shortfall for the lender. Banks are hoping to sell shares fast, in case the soaring stock market starts to retreat, analysts said.
To read more, double-click on the square brackets below:
LATEST STORIES ABOUT US BANK STRESS TESTS > US banks seek $75 bln; European peers' bad debts soar > US to give GMAC substantial support - Geithner > Morgan Stanley raises $3.5 bln in stock issue > US banks race to fill $74.6 bln stress test hole > US stress tests show 10 banks need $74.6 bln > Citi to exchange $5.5 bln preferred for common stock > Bank of America needs $33.9 bln, eyes asset and stock sales > Goldman passes test, sees repaying TARP soon > American Express files for permission to repay TARP > GMAC may be most likely to need taxpayer help > Wells Fargo announces $6 bln common stock offering
EARLIER STORIES ABOUT US BANK STRESS TESTS > US bank stocks rally ahead of stress test results > Fed's Bernanke says all stress test banks are solvent > US banks need total extra capital of about $130 bln - Goldman > US banks will need more capital than government estimate-KBW > US's Geithner says no stress test banks insolvent > US government outlines stress test capital targets > FDIC's Bair says US bank tests will instill confidence > Many stress test banks won't need more US help - Bernanke > US looks to tangible common equity in stress tests
ANALYSES RELATED TO THE US BANK STRESS TESTS > Stress test relief seen unlikely to spur lending > US seen staying involved with Wells Fargo for some time > US political risks grow in financial crisis > Reality to bite US bank bonds after test euphoria > Obama manages expectations for in stress tests > Citigroup OK for now, may still face trouble > US bank tests may strain faith in corporate bonds > US officials walk bank stress test tightrope
FACTBOXES > Stress tested banks need combined $74.6 bln capital > Summary of 19 stress-tested banks' capital needs > Q&A What's at stake in US bank stress tests > US banks and their stress tests > How ready are banks for the stress test - > SCENARIOS-After stress tests, what next for US banks > Terms of stress tests for top 19 US banks > Where has all the US bailout money gone -
Keywords: USA BANKING/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Bank of America Corp got in line too, saying it plans to sell 1.25 billion shares to help meet what the government deemed a $33.9 billion capital shortfall for the lender. Banks are hoping to sell shares fast, in case the soaring stock market starts to retreat, analysts said.
To read more, double-click on the square brackets below:
LATEST STORIES ABOUT US BANK STRESS TESTS > US banks seek $75 bln; European peers' bad debts soar > US to give GMAC substantial support - Geithner > Morgan Stanley raises $3.5 bln in stock issue > US banks race to fill $74.6 bln stress test hole > US stress tests show 10 banks need $74.6 bln > Citi to exchange $5.5 bln preferred for common stock > Bank of America needs $33.9 bln, eyes asset and stock sales > Goldman passes test, sees repaying TARP soon > American Express files for permission to repay TARP > GMAC may be most likely to need taxpayer help > Wells Fargo announces $6 bln common stock offering
EARLIER STORIES ABOUT US BANK STRESS TESTS > US bank stocks rally ahead of stress test results > Fed's Bernanke says all stress test banks are solvent > US banks need total extra capital of about $130 bln - Goldman > US banks will need more capital than government estimate-KBW > US's Geithner says no stress test banks insolvent > US government outlines stress test capital targets > FDIC's Bair says US bank tests will instill confidence > Many stress test banks won't need more US help - Bernanke > US looks to tangible common equity in stress tests
ANALYSES RELATED TO THE US BANK STRESS TESTS > Stress test relief seen unlikely to spur lending > US seen staying involved with Wells Fargo for some time > US political risks grow in financial crisis > Reality to bite US bank bonds after test euphoria > Obama manages expectations for in stress tests > Citigroup OK for now, may still face trouble > US bank tests may strain faith in corporate bonds > US officials walk bank stress test tightrope
FACTBOXES > Stress tested banks need combined $74.6 bln capital > Summary of 19 stress-tested banks' capital needs > Q&A What's at stake in US bank stress tests > US banks and their stress tests > How ready are banks for the stress test - > SCENARIOS-After stress tests, what next for US banks > Terms of stress tests for top 19 US banks > Where has all the US bailout money gone -
Keywords: USA BANKING/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.