Government Tests Shows American Express Doesn’t Need Cash

WASHINGTON (AP) - Regulators are set to pronounce American
Express Co. healthy after kicking the company’s tires.
      Government stress tests show New York-based American Express
will not be asked to raise capital, according to a source who was
briefed on the matter and requested anonymity because he was not
authorized to discuss the tests publicly.
      The tests of the nation’s 19 largest financial firms show which
of them need more capital in case the economy worsens. Regulators
are planning to release the results Thursday afternoon.
      Analysts expect about half of the banks, including Citigroup
Inc., Bank of America Corp. and Wells Fargo & Co., will be asked to
boost their capital. The banks can do that by raising private
money, taking more government loans or converting government debt
to equity.