Led by the Federal Reserve, a multidisciplinary team from the bank regulatory agencies assessed the amount of capital that would be needed by the 19 largest bank holding companies to withstand losses in an adverse stress scenario through 2010, and still remain sufficiently capitalized to meet the needs of their creditworthy borrowers. In May we publicly released the results of that assessment.
Ten of the firms needed additional capital. By early June they had each submitted plans for realizing the specified capital buffers. Today was the deadline for implementing these plans.