Because the federal “stress test” says so. Look, I have no idea what to believe. But if Citi needs to raise capital, then I’d guesstimate that BAC needs about half that number, whatever it might be.
Meanwhile, BofA execs will basically beg for extra credit from the feds here in the coming days. The share prices is off about 5% so far today.
Update: Bloomberg puts the capital number at $60b. to $70b., drawing from one analyst’s stress test with a more realistic 12 percent jobless rates.
