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Politics : American Presidential Politics and foreign affairs

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To: DuckTapeSunroof who wrote (33152)	2/23/2009 3:13:46 PM
From: DuckTapeSunroof	Read Replies (1) of 71588

U.S. to provide 'capital buffer' as needed for banks Government reiterates position that banks must 'remain in private hands' By Ronald D. Orol & Greg Robb, MarketWatch Last update: 12:18 p.m. EST Feb. 23, 2009 WASHINGTON (MarketWatch) -- As part of the latest efforts by regulators to thwart concerns that some banks need to be nationalized, U.S. regulators vowed Monday to provide a "temporary capital buffer" to financial institutions that fail a planned stress test and are unable to secure help from private sources. "The government will ensure that banks have the capital and liquidity they need to provide the credit necessary to restore economic growth," regulators from various agencies said in a joint statement. Shares of major banking institutions surged after the statement, in which the Treasury, Federal Reserve and other bank regulators asserted that no "systemically important" financial institution will be allowed to fail. U.S. may lift its Citigroup stake and regulators say they won't let any important banks to fail. MarketWatch's Greg Morcroft takes a look at the market action. (Feb. 23) The stress tests, scheduled to begin on Wednesday, are designed to ensure that institutions have sufficient capital on an ongoing basis and support a recovery, even if the economy is worse than expected, the statement said.... marketwatch.com{968E1905-6AA6-4ED7-B1F6-9F052E428AF4}&print=true&dist=printMidSection

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