Waiting for Bank Stress Test Results, Citigroup and Bank of America Attempt to Raise $10B in Common Equity

Waiting for the boiling point, Citigroup is “girding for results” of the Fed’s infamous bank stress tests, and “may try to wring capital from private investors instead of U.S. bailout funds as a way of bolstering equity without ceding control to the govt.” Bank of America, which received $45 billion in government aid, seeks same.