Stress Test Results Postponed

[ax]

Here we go:

"The Federal Reserve will postpone the release of stress tests on the biggest U.S. banks while executives debate preliminary findings with examiners, according to government and industry officials.

The results, originally scheduled for publication on May 4, now may not be revealed until toward the end of next week, said the people, who declined to be identified. A new release date may be announced as soon as tomorrow, they said.

Regulators and bank executives are concerned about how the disclosure is handled because weaker institutions could suffer a collapse in their stock prices."

I guess BofA and Citi need more time to refute the reasons why they'll need an additional $60-$70 billion.

http://www.bloomberg.com/apps/news?p...9Hg&refer=home

[*T*]

Re: Stress Test Results Postponed

Here we go:

"The Federal Reserve will postpone the release of stress tests on the biggest U.S. banks while executives debate preliminary findings with examiners, according to government and industry officials.

The results, originally scheduled for publication on May 4, now may not be revealed until toward the end of next week, said the people, who declined to be identified. A new release date may be announced as soon as tomorrow, they said.

Regulators and bank executives are concerned about how the disclosure is handled because weaker institutions could suffer a collapse in their stock prices."

I guess BofA and Citi need more time to refute the reasons why they'll need an additional $60-$70 billion.

http://www.bloomberg.com/apps/news?p...9Hg&refer=home

Debate?!

Since when can the candidate of the test debate with the examiner?

Oh, sir, your marks were too harsh!

(what I'm trying to say is, evidently this is no longer an objective process, if indeed it ever was)

[vanvaley1]

Re: Stress Test Results Postponed

Gotta give em some extra time to unload their stocks? Wasn't there a post on this site recently that stated that insiders were unloading stocks? van

[ax]

Re: Stress Test Results Postponed

Yes, at record levels. Notice Citi was able to dump some assets for $8 billion today. CNBC is reporting that individual tests may now be released.

[ax]

Re: Stress Test Results Postponed

Looks like it hits the fan next Thursday:

http://bloomberg.com/apps/news?pid=2...gPc&refer=home

After the markets close of course, May 8th should be very interesting.