The Fed said GM's financial services company failed to raise enough funds on schedule

WASHINGTON, November 9 (Xinhua Liu Hongliulina) The U.S. Federal Reserve issued an assessment on 9th that only GM's financial services company failed to raise enough funds in 19 of the largest U.S. financial firms to undergo a "stress test". According to the "Stress test" report released in May this year, 10 financial institutions in the 19 largest financial institutions in the United States were asked to increase their capital of $74.6 billion to cope with the dire economic downturn.　　But the Fed's report, released 9th, says the companies have now raised 77 billion of billions of dollars. But of the 10 financial institutions, only GM's financial services company was unable to raise the 11.5 billion dollars it had originally needed because of poor operating conditions and insufficient investor confidence. The Fed's report says the company is currently negotiating further assistance with the Ministry of Finance.　　Earlier, the U.S. government has provided the company with 12.5 billion dollars in bailout funds. GM's financial services company, formerly a subsidiary of General Motors, was mainly engaged in car loans, and later expanded into the home loan business. General Motors and General Motors ' financial services companies have been hit hard by the financial crisis, and the latter has been stripped of GM.