Reports: May 7 Will Be Stress Test Day
Finally, a little clarity about those "stress tests." Regulators will release the results next Thursday after the markets close, according to reports in the Wall Street Journal, Bloomberg, and CNBC.There's been no official word yet, but the Journal reports that regulators will reveal the topline result from the tests, i.e. how each bank would lose over the next couple years if the test's pessimistic economic scenario came to pass, in addition to aggregate results across all 19 banks.
We'll also learn then how much more of a "capital buffer" regulators say these banks need. But since banks will be given the option of raising money privately or converting the government's preferred stock into common shares, it's unclear whether we'll know next Thursday how much more bailout money will be going out the door.
Until then, we've created a page listing the "stress test" 19. We'll update it when the results come in.
As big banks return their TARP money, Fannie Mae and Freddie Mac continue to be a drain.
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