Bank "Stress-Test" Results Released Thursday, May 7, 2009 at 5 p.m. ET
The results of the Supervisory Capital Assessment Program, commonly referred to as "stress tests," for 19 U.S. bank holding companies will be released Thursday, May 7, 2009 at 5 p.m. ET, according to a joint statement by Treasury Department Secretary Timothy Geithner, Federal Reserve Board Chairman Ben Bernanke, Federal Deposit Insurance Corporation Chairwoman Sheila Bair, and Comptroller of the Currency John Dugan. The Supervisory Capital Assessment Program examined all U.S. bank holding companies with year-end 2008 assets exceeding $100 billion. Today's joint statement notes that if any of the examined U.S. bank holding companies needs to augment its capital buffer, it will have until June 8, 2009 to develop a capital plan and until November 9, 2009 to implement that capital plan.
Click here for today's joint statement.
