Market Currents

Here's a bank by bank list of capital buffer shortfall, or lack thereof (source): American...

Thursday, May 7, 2009, 5:43 PM ET
Here's a bank by bank list of capital buffer shortfall, or lack thereof (source):
American Express (AXP): $0
Bank of America (BAC): $33.9B
BB&T (BBT): $0
Bank of New York Mellon (BK): $0
Capital One (COF): $0
Citigroup (C): $5.5B
Fifth Third Bancorp (FITB): $1.1B
GMAC: $11.5B
Goldman Sachs (GS): $0
JPMorgan (JPM): $0
KeyCorp (KEY): $1.8B
MetLife (MET): $0
Morgan Stanley (MS): $1.8B
PNC Financial (PNC): $0.6B
Regions Financial (RF): $2.5B
State Street (STT): $0
SunTrust Banks (STI): $2.2B
U.S. Bancorp (USB): $0
Wells Fargo (WFC): $13.7B

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This news story has 4 comments:

herbert hoover Comments (2005)

Let's start a pool to see which one of these guys goes BK first. Can I have AmEx?

7 May 2009, 05:53 PM Reply Like

LivininCDM Comments (9)

Hoover I'll see your AXP and go GMAC do to their comm real estate exposure

7 May 2009, 05:59 PM Reply Like

Between The Numbers Comments (153)

Surprising numbers: JPM needs $0, GS needs $0, Citi needs $5.5B. I would have thought, for sure, they would peanut butter spread a bit of capital requirements across the most politically-connected banks to make the stress tests seem credible. However, these numbers are silly low, almost demanding to be rejected by investors.

Not-Surprising: GMAC is in a ton of pain, and the $11.5B (conservative) number implies significant dilution. They aren't too big to fail (but they do aid in car sales, which aids in union salaries, which nets votes), but the fact they were stress tested shows they won't be allowed to. If ever an argument could be made for receivership based on such whitewashed numbers, this might be it.

7 May 2009, 05:59 PM Reply Like

Niner Comments (791)

After hrs gainers BAC 1.25, C .28, COF .71, FITB 1.30, JPM .16, GS .03, AXP .60, XLF.30. The only loser I saw WFC .09. When I looked SPY was up .75. Appears not everybody was upset with the results.

Cetin tomorrow will prove Cetin right or wrong. If we are choosing up sides, I want to be on Cetin's side........I just wish I hadn't sold all my BAC and FITB. FITB will blow through resistance at 7.50 on it's way to 10.00 and may not stop untill it hits 17.50.

7 May 2009, 07:16 PM Reply Like

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