Financial shares Citigroup, bac, JPMorgan stock down dec 19 2011

Indonesia stock info - Financial shares Citigroup, bac, JPMorgan stock down dec 19 2011 ; The S&P 500 has fallen 4.2 percent in 2011, poised to snap a two-year rally, amid concern about slower global growth as European leaders struggle to solve the region’s debt crisis. Financial shares had the biggest decline in the benchmark measure this year, tumbling 23 percent.

Citigroup Inc., Bank of America (BAC) Corp. and JPMorgan Chase & Co. tumbled at least 3.7 percent to help lead losses in all 24 stocks in the KBW Bank Index today. Bank of America dropped below $5 for the first time since March 2009, closing at $4.99 a share.

Banks should be forced to reveal more data about their financial reserves so that they can’t conceal poor management decisions and excessive risk-taking, global regulators said. Lenders should “disclose the full list” of instruments that they are counting toward meeting their required minimum capital levels, the Basel Committee on Banking Supervision said in an e- mailed statement today.

The Wall Street Journal reported that the Federal Reserve is expected to accept the rules laid out by the Basel Committee. The newspaper cited unidentified people familiar with the situation.


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