In February 2009, the federal bank regulatory agencies announced that they would begin conducting situational assessments, or "stress tests", of the nation's largest banking institutions. Each institution is required to answer a series of worst case scenario questions and then calculate whether or not they have the capital reserves to cover losses.CBS News: What Does A Bank "Stress Test" Entail? (February 25, 2009)

The results of the bank stress test were released at 5 p.m. ET on May 7, 2009. The Federal Reserve directed 10 out of the 19 top U.S. banks to boost their capital levels by $65 billion. The banks which need to raise capital are Bank of America, Wells Fargo, GMAC, Citigroup, Regions Financial Corp., SunTrust Banks, KeyCorp, Morgan Stanley, Fifth Third Bancorp and PNC.CNN Money: 10 Banks Must Raise $75 Billion (May 7, 2009)

• Directed to raise capital:CNN Money: 10 Banks Must Raise $75 Billion (May 7, 2009)
  • Bank of America Corp. (BAC): $33.9 billion
  • Wells Fargo & Co. (WFC): $13.7 billion
  • GMAC LLC: $11.1 billion
  • Citigroup Inc. (C): $5.5 billion
  • Regions Financial Corp. (RF): $2.5 billion
  • SunTrust Banks Inc.(STI): $2.2 billion
  • KeyCorp (KEY): $1.8 billion
  • Morgan Stanley (MS): $1.8 billion
  • Fifth Third Bancorp (FITB): $1.1 billion
  • PNC Financial Services (PNC): $600 million
• Deemed not to need new capital:CNN Money: 10 Banks Must Raise $75 Billion (May 7, 2009)
  • JPMorgan Chase & Co. (JPM)
  • American Express Co. (AXP)
  • Goldman Sachs Group Inc. (GS)
  • Bank of New York Mellon Corp. (BK)
  • MetLife Inc. (MET)
  • Capital One Financial Corp. (COF)
  • State Street Corp. (STT)
  • BB&T Corp. (BBT)
  • U.S. Bancorp (USB)

1. What if the unemployment rate rises to 10.3 percent?
2. What if home prices plunge 22 percent?
3. What if overall growth drops down to negative 3.3 percent?
4. What happens to a bank's balance sheet under these conditions?
5. What will the bank lose from increased defaults on mortgages, auto loans and credit cards?CBS News: What Does A Bank "Stress Test" Entail? (February 25, 2009)

The Associated Press reportedly attained some of the results of the government's stress test on May 6, 2009. An unidentified source from the government leaked that institutions not asked to bolster capital reserves include: American Express Co., JPMorgan Chase & Co. and Bank of New York Mellon Corp. The official report will be released on May 7, 2009 at 5 p.m. EST.NPR.org: Amex, JPMorgan, Bank of New York Mellon pass tests (May 6, 2009)