The completion of US banking “stress tests” has unleashed a fee bonanza for Wall Street, with financial institutions set to earn more than $500m within weeks as many of the 19 lenders involved in the tests tap the market to fill the capital holes uncovered by regulators or repay funds from the Tarp scheme. Morgan Stanley, Wells Fargo and Bank of America raised, or announced plans to raise, nearly $30bn after Thursday’s test results. On Monday they were joined by four other banks – US Bancorp, Capital One, BB&T, and KeyCorp, which plan to sell a combined $6.3bn in stock.

This entry was posted by Gwen Robinson on Tuesday, May 12th, 2009 at 5:04 and is filed under Capital markets. Tagged with BB&T, BofA, Capital One, KeyCorp, morgan stanley, us bancorp, wells fargo. Edit this entry.