US: GMAC told to hike capital $11.5bn after fed ‘stress test’

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GMAC Financial Services last night said it would raise its capital by US$11.5bn by 9 November, after the Federal Reserve's Supervisory Capital Assessment Program (S-CAP; otherwise known as the 'stress test'). Of that, $9.1bn must be new capital, the auto financier added. Full story...