Finance Style – Financial News & Articles Summary

Treasury chief Geithner says new regulatory structure needs to be ‘cleaner’ and consolidated – says administration will unveil legislation within weeks.

Most critics of the Stress Test have missed the point of the tests and underestimate the Obama Administration’s cleverness in helping banks raise capital.

By PETER EAVIS In the worst-case scenario used to determine bank capital needs, the government posits that Goldman might be 2½ times as profitable as its main rival this year and next.

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.

Wells Fargo and Morgan Stanley are finding stock sales to be a breeze. Those banks that wait, however, may find themselves in a more difficult spot.

Citigroup Inc (CN) and Bank of America Corp (BAC.N) shares rallied in premarket trading ahead of the release of “stress test” results that will force them and other top banks to raise tens of billions of dollars in capital.

By Raju Gopalakrishnan NUSA DUA, Indonesia (Reuters) – Despite plans to sharply increase its lending program, the Asian Development Bank will only slowly increase its own borrowings from international capital markets, its treasurer said on Sunday.

Silverton Bank closes, costing the Deposit Insurance Fund an estimated $1.4 billion. Smaller New Jersey and Utah banks also shutter.

By MarketWatch Regulators shut down Georgia’s Silverton Bank NA, New Jersey’s Citizens Community Bank, and Utah’s America West Bank, bringing the number of bank failures this year to 32.

Four regional banks fail Friday, setting the FDIC back nearly $700 million and bringing the annual total up to 29. By Catherine Clifford, CNNMoney.