The stress test results are being leaked left and right, making tomorrow’s announcement an anti-climax. Here is the score card so far: BofA needs $35 bln in TCE (tangible common equity), Citi $5 bln. Wells Fargo needs $15 bln. Amex, Morgan Stanley, JP Morgan, State Street, BNY Mellon, need none, it is rumored. That is 8 down with 11 to go.
Spoke too soon. Add Goldman to the list not needing common equity. GMAC needs $11.5 bln. 10 down, 9 to go.
