Bank of America Corp. (BAC) has been told by regulators that the company needs to take steps to address a roughly $35 billion capital shortfall based on results of the government’s stress tests, The Wall Street Journal is reporting.
The exact amount of the needed infusion couldn’t be determined late Tuesday. But, the amount of new capital now needed by the bank, notes the Journal, could exceed what the bank can raise by selling assets or more shares to the public.
An official announcement of the results of the stress tests of 19 banks is expected after the close of U.S. stock-market trading Thursday.
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