Report: Fed Orders GM Financing Arm to Raise $13 Billion

General Motors' financing arm has been ordered by the Federal Reserve to raise $13.1 billion in new capital, The Washington Post reports, which would be one of the largest amounts the Fed is demanding of any financial firm.

It's unclear where the money to bolster GMAC would come from.

The government is expected to release full results from its so-called "stress tests" of financial institutions Thursday evening.

The news about GMAC comes after General Motors reported Thursday that it lost $6 billion in the quarter.

GM burned through $10.2 billion of its cash reserves during the quarter, translating to $113 million per day. As of March 31, the company had $11.6 billion worth of untapped liquidity.

"Our first-quarter results underscore the importance of executing GM's revised viability plan, which goes further and faster to lower our break-even point," said Fritz Henderson, GM's newly-appointed CEO in a company statement.

Click here to read the story in The Washington Post.

FOX Business Network's Kathryn Elizabeth Tuggle contributed to this report.