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To bolster core capital, the banks are raising money.
Core capital goods can show businesses' confidence in the economy.
"The M.T.A. just proposed cutting a fifth of their core capital program," Mr. Russianoff said.
Tier one (core) capital, the more important of the two, consists largely of shareholders' equity.
Economists tend to focus on orders for so-called core capital goods.
Core capital goods, which include machinery and equipment orders, fell 3.2 percent.
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Capital concerns should fade as non-core capital is released and legacy conduct issues are resolved.
Citigroup would have needed a starting core-capital ratio in the mid-teens.
The main yardstick imposed is a core-capital ratio of 8%, which is higher than in current regulations.
Among big banks, Wells scores poorly on Tier-1 common equity, the core-capital measure favoured by regulators (see chart).
It would have needed a core-capital ratio of 23% to avoid falling through the 4% floor.
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