IMF to USA: Banks may need $76 billion “capital injection”

July 31, 2010

Just barely a week after passing legislation that the President said would put an end to bank bailouts, the US government is being told by its parent company, the International Monetary Fund, that the banks may need an additional $76 billion in capital injections to keep from buckling anew. This comes after a new IMF report was issued following stress tests simulating potential problems in the coming 4 years, including a looming commercial real estate collapse. Presently there are about $1.4 trillion worth of commercial mortgages set to mature before 2014, and over 50% of these are already either delinquent or underwater. While the IMF did not formerly call for a new round of bank recapitalization through government bailouts, as the report stated, “pockets of vulnerabilities linger.”

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