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List of Financial Firms Likely Being Stressed-Tested

ProPublica, the nonprofit investigative journalism outfit funded by San Francisco S&L bankers Herb and Marion Sandler has ginned up a list of big financial firms that meet the threshold set by the government for undergoing the so-called "stress test" to determine how viable they are.

The U.S. Treasury has not released the names of the financial institutions (not all of which are banks) but said they number 19 and they each have more than $100 billion in assets.

Based on that, ProPublica assembled a list, the Top 10 of which are:

1. J.P. Morgan Chase
2. Citigroup
3. Bank of America (not including Merrill Lynch brokerage, which it bought last year)
4. Wells Fargo
5. Morgan Stanley
6. Goldman Sachs
7. MetLife (insurance)
8. PNC Financial Services
9. U.S. Bancorp
10. Bank of New York Mellon

You can see the entire ProPublica list here.

-- Frank Ahrens
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By Frank Ahrens  |  March 5, 2009; 2:52 PM ET
Categories:  The Ticker  | Tags: Bank of America, Citigroup, GMAC, JP Morgan, MetLife, banks, stress test  
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The Treasury Department should release the entire list. It's not a government secret or anything. The so-called "stress test" is based on tangible common equity (TCE) which excludes things like perferred shares. Why the "market" needs to have 3% or better ratios of TCE to assets is beyond me. There is so much more to a bank's liquidity than TCE. Instead of performing meaningless tests, the Administration should focus on pricing the toxic assets and transferring them to a bad bank so the entire financial sector can get past this mess. Allowing private investors to partner with the bad bank is a great idea as the majority of these so-called toxic assets will bear fruit someday. Simply put, is this "story" really newsworthy? If so, then include the entire list and lets see how accurate you are when the Treasury Department releases the "secret" list. Bryon Fessler , Irving TX

Posted by: BryonFessler | March 5, 2009 5:02 PM | Report abuse

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