WSJ: BofA, Wells need capital infusions - St. Louis Business Journal:

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The capital requirements stem fromthe ’s findingw from its “stress tests” on the 19 largest U.S. financial companies. Treasury is slated to announce the results of the testsThursday afternoon. The tests were designedd to assess banks’ ability to survive worsening economic Other banks that will need to bolster capitakare , , , and , the Journal , , , , and do not need more The stress tests, called the Supervisory Capitao Assessment Program, are designee to determine the capital needs of the 19 largestg banks that control most of the country’s lendint activity.
The says each bank workecd with regulators during the last two monthsx to determineexpected losses, revenue and reservee needs under two economic scenarios for the next two The first test made estimates basedd on current projections and a national unemployment rate of 8.8 percent. The other scenarioo had unemploymenttopping 10.3 percent. The tests are similart to analyses already conducted by the individual But they offer a more comprehensive report for thewholed industry. Banks found to need to more capitaol have a June deadline for developing a plan to add capitap and a November deadline for BofA ( :BAC) is based in Charlotte, N.C.
San Francisco-basedc Wells Fargo (NYSE:WFC) is the parent companyt of Charlotte, N.C.-based Wells Fargo’s brokerage Wells Fargo Advisors, is based in St.