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

)

This article was written by a staff member of TheStreet.com.