9 months ago
WASHINGTON (AP) -- Five of the nation's largest regional banks are vulnerable to a worsening recession and need to raise a total $8.2 billion in new capital based on results of government "stress tests."
The tests found that Birmingham, Ala.-based Regions Financial Corp. needs to raise $2.5 billion; Atlanta-based SunTrust Banks Inc. needs $2.2 billion; Cleveland's KeyCorp. needs $1.8 billion; Fifth Third Bancorp in Cincinnati needs $1.1 billion; and Pittsburgh-based PNC Financial Services Group Inc. needs $600 million.
The other two -- BB&T Corp. in Winston-Salem, N.C., and Minneapolis-based U.S. Bancorp -- came through the tests without being required to raise new money.
The tests were designed to gauge whether any of the nation's 19 largest banks would need more capital to survive a deeper recession. (Copyright 2009 by The Associated Press. All Rights Reserved.)
