According to a Board of Governors' press release dated May 7, 2009, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation made public the results of a comprehensive assessment of the financial conditions of the nation's 19 largest bank holding companies (BHCs). Called the Supervisory Capital Assessment Program (SCAP), the assessment identified "potential losses, resources available to absorb losses, and resulting capital buffer needed for the 19 participating BHCs."
The SCAP complements the Treasury's Capital Assistance Program (CAP) whose function is to make capital available to financial institutions "as a bridge to private capital in the future."
Both the Overview of Results (333 KB PDF)and a statement by Federal Reserve Board Chairman Ben S. Bernanke are available.
