Skip to main content
Stressed

Stress Tests Loosen Lending

Bernanke says banks accessing new capital.

Are the stress tests working? According to Ben Bernanke, “Government ‘stress tests’ of how 19 major banks would endure a sharp downturn in the economy already appear to be helping banks gain access to private capital,” reports Reuters. More good financial news from Reuters: “Citigroup Inc, the bank bailed out with $45 billion of U.S. taxpayers' money, is using almost all of that money to make new loans.” Bank of America, meanwhile, sold $7.3 billion worth of shares in China Construction Bank in order to help raise the $34 billion in capital the stress test said it needed.

Read it at Reuters

TRENDING NOW