Tags: banks | need | trillion

Report: Banks Could Need $1 Trillion More

Thursday, 23 Apr 2009 03:23 PM

U.S. lenders including Wells Fargo & Co. may need another $1 trillion in capital to cushion losses as unemployment rises and borrowers fall behind on payments, KBW Inc. analysts said today in a Bloomberg report.

The estimate is based on KBW’s own “stress test” of the strength of top U.S. lenders, wrote analysts led by Frederick Cannon. The government is also evaluating the ability of banks to withstand a deepening recession.

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