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 sara.behunek – The Big Money Making business headlines today is the still-unofficial results of the government’s bungled stress tests, which show that Citigroup (C) may need to raise up to an additional $10 billion of fresh capital.
By Craig Torres and Dawn Kopecki April 25 (Bloomberg) — Financial regulators may force many of the largest US banks to raise new capital or conserve extra cash after accounting for assets held off their balance sheets.