Bank of America

JPMorgan: Banks Will Need More Capital 

Banks will likely experience about  $400bn more in losses, and stress tests will reveal the need for additional capital infusions for certain institutions according to research released by JPMorgan Chase & Co. [stock JPM][/stock]. The report drawn up by a group of analysts for JPMorgan said total bank losses could reach a whopping $1.3trn. Banks so far have taken writedowns and losses of $920bn, which if the analysts’ estimates are correct, would mean banks are roughly 70% through with total losses.