Corrections and Clarifications

Return to Article

May 2009 Corrections Page

TSC Staff

Bank of America's (BAC:NYSE) regulators have told the company it needs $33.9 billion in capital to withstand a worsening economy, according to The New York Times. The company can satisfy the requirement in a number of ways, including by converting the federal government's $45 billion preferred equity stake into common shares, the Times said. A May 6 article, Wednesday's Headlines: BofA and Capital, incorrectly stated that published reports said Bank of America might need to raise about $34 billion in new capital. TheStreet.com regrets the error. (Corrected May 6)