Bank “Stress Test” Results on Friday
So tomorrow around 3pm we should know what those results are! Yes, I’m implying that those with the inside info will be buying or selling ahead of the results. Duh.
‘Stress test’ results to be sent to banks Friday: report
WASHINGTON (AFP) — US regulators on Friday will begin briefing banks on the results of a set of “stress tests” measuring the health of their ailing industry, according to a report in the Wall Street Journal.
The daily reported in Wednesday’s editions that results of the tests, measuring the financial wellbeing of some 19 banks, will be made public about one week later.
The tests are part of an effort by the Barack Obama administration to introduce transparency into its efforts to rescue the crippled banking sector, and will also help it evaluate how much government cash individual banks might need to return to health.
Treasury Secretary Timothy Geithner eased some worry about the banking system in his testimony to Congress Tuesday, telling lawmakers that the “vast majority” of US banks have more capital than needed.
To help shore up confidence in the troubled sector, the administration is expected to distinguish between banks that need an infusion of government cash to stay afloat and those able to weather the economic downturn without additional aid.
Source: AFP via Google