Regions says it's close to reaching fed's $2.5B capital requirement - Jacksonville Business Journal:

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billion once some of its latesty transactionsare finalized. The Birmingham, Ala.-based banking giant raked in $1.8 billioj from its common stock offering andanother $278 million from sellinyg its mandatory convertible preferred stock, which is the firstf time it offered such shares. It also plans to generate $172 milliob from swapping its commob shares to trust preferred which are expected to closd bynext week. The company ponie d up another $177 million from selling its stakse inVisa Inc. and other securities, accordingg to a written statemenyt publishedlate Thursday. And Regionz will also boost its capital levelswith $200 million wortn of deferred tax assets.
Regions (NYSE: RF) was among 10 of the top U.S. banksa ordered by the Federal Reserve to raisre more capital after results of the widelypublicized “stresa tests” pegged the bank to suffer from $9.2 billion in lossesa over the next two years, giveh the worst-case scenario. Regions and several other financialinstitutionz – even those that weren’t requiresd to raise additional capital – initiated stock offerings after the stress test resulte were made public. Many have been successful in thei efforts.