FOR IMMEDIATE RELEASE
Elise Brooks, (202) 589-2427

Financial Services Roundtable Statement on Stress Test Results

Washington, D.C.—May 7, 2009—The Financial Services Roundtable supports the Treasury’s actions to bring strength and stability to our industry. We are pleased that today’s stress test announcement recognized that our financial institutions are well-capitalized. 

Today’s results do not reflect the current health of the 19 financial institutions, but rather the tests focus on any need for additional capital under a future worst-case scenario. The stress test serves as a road map to increasing future capital, which can be accomplished either independently, or through additional government funding; options for raising that capital can include selling assets, new equity offerings, and converting preferred shares to common. We believe that the stress test results serve to stabilize the public's trust in our industry.

The economic recovery starts with the financial services industry, and the recovery has begun from a position of relative strength. As we acknowledge the significant milestone announced today, the financial services industry is poised to emerge stronger and more effective.

The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer.  Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO.

Roundtable member companies provide fuel for America's economic engine, accounting directly for $85.1 trillion in managed assets, $976 billion in revenue, and 2.3 million jobs.