The Federal Reserve Board said Monday that it has received the capital assessment plans from the 10 financial institutions required to raise additional funds as a result of stress tests.
The central bank offered no details of the plans, but it confirmed that the plans arrived on time.
The government completed tests last month of the 19 largest bank holding companies. Ten were found to need $74.6 billion of capital and were required to submit a plan by Monday for filling their capital holes.
"As supervisors, we will be working with the institutions to ensure their plans are implemented quickly and effectively. Supervisors also continue to work with all regulated financial institutions to review the quality of their corporate governance, risk management and capital-planning processes," the Fed said.
The plans must be implemented by Nov. 8.
