[ForexNews]

Financial markets continue to rely on media reports about the stress test results ahead of the official release tomorrow. The latest batch of reports dented some of the optimism from yesterday. Various media (eg Bloomberg, Market News) today report that as a result of the "stress tests", Bank of America is to require about $34bn in new capital. The FT reported that BoA is considering selling part of its CCB stake immediately. Citigroup's shortfall is reported to be "more limited" since it already plans to convert government preference shares into common equity, according to people familiar with the situation. Meanwhile, JPM was reported not to require a bigger capital reserve.