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Bank of America Corp. (BAC)

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Moderator: HMONNY, FutureBankruptcy
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Last Post: 9/21/2017 12:24:23 PM - Followers: 409 - Board type: Free - Posts Today: 0



Corporate Profile

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Corporate Structure

Merrill Lynch & Co., Inc. is a wholly owned subsidiary of Bank of America Corporation.

Debt Profile

Prior to Merrill Lynch's acquisition by Bank of America, Merrill Lynch & Co., Inc. (ML & Co.) was the primary issuer of Merrill Lynch's debt instruments. Debt instruments were also issued by certain subsidiaries. ML & Co. is no longer a primary issuer of new unsecured borrowings under the Bank of America platform. Bank of America has not assumed or guaranteed the long-term debt that was issued or guaranteed by ML & Co. or its subsidiaries prior to the acquisition of Merrill Lynch by Bank of America.

Following the completion of Bank of America's acquisition of Merrill Lynch, ML & Co. became a subsidiary of Bank of America and established intercompany lending and borrowing arrangements to facilitate centralized liquidity management. Included in these arrangements is a $50 billion extendible one-year revolving line of credit that allows Bank of America to borrow funds from Merrill Lynch at a spread to LIBOR that is reset periodically and is consistent with other intercompany agreements. The line of credit matures on January 1, 2014 and will automatically be extended by one year to the succeeding January 1st unless Merrill Lynch provides written notice not to extend at least 45 days prior to the maturity date. There were no amounts outstanding at both March 31, 2013 and December 31, 2012 under this credit facility. There is also a short-term revolving credit facility that allows Bank of America to borrow up to an additional $25 billion. Interest on borrowings under the credit facility is based on prevailing short-term market rates. The line of credit matures on February 11, 2014. At March 31, 2013 and December 31, 2012, approximately $10.7 billion and $16.2 billion, respectively, was outstanding under this line of credit.

Brian T. Moynihan is the chief executive officer of Bank of America. He was elected to his role by the board of directors on December 16, 2009, and took office on January 1, 2010. Moynihan also is a member of the Bank of America board of directors. Moynihan has led Bank of America’s Global Diversity and Inclusion Council, a group of senior executives from across lines of business, since 2007. Moynihan joined Bank of America in 2004 following the company’s merger with FleetBoston Financial. In 2010, he was elected a trustee of the Corporation of Brown University.

Bank of America Corporate Center
100 North Tryon Street
Charlotte, NC 28255


Investor Relations:
Tel: 704-386-5681
Fax: 980-386-6699


Updated: 9/13/13

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BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 09/19/2017 04:37:16 PM
BAC News: Statement of Changes in Beneficial Ownership (4) 09/19/2017 04:10:22 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 09/19/2017 03:30:32 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 09/19/2017 02:58:39 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 09/19/2017 10:58:10 AM
#20449  Sticky Note Credit Suisse Group raised their target price on FutureBankruptcy 07/19/17 10:41:09 AM
#20534   Probably but could change depending on DPRK's next move. 2 point spread 09/21/17 12:24:23 PM
#20533   Maybe a real chance. The charts are looking pennystockaholic 09/20/17 08:35:50 PM
#20532   The gates have been breached finally. 25 might be clearsudden 09/20/17 03:09:19 PM
#20531   I just want to bet on safe option tpg 09/19/17 05:09:11 PM
#20530   took some profits today flipping the boli band FutureBankruptcy 09/13/17 02:57:57 PM
#20529   Yes, agree as well. viewmont 09/12/17 02:12:53 PM
#20528   Agreed, there is still so much liquidity on HMONNY 09/09/17 12:45:23 AM
#20527   More than positive. It's just a matter of time. 2 point spread 09/08/17 10:27:07 AM
#20526   Hoping to go back over 24 soon .if possible tiger1966 09/07/17 07:58:12 PM
#20525   Now we're getting closer to healthy price action! Agent92260 09/07/17 11:53:17 AM
#20524   Talal Fouani kingofme 09/05/17 03:14:41 PM
#20523   Ridiculous clearsudden 09/05/17 03:04:02 PM
#20522   Seriously... HMONNY 09/05/17 11:52:04 AM
#20521   And the DPRK to stop. 2 point spread 09/05/17 10:06:30 AM
#20520   Yup! Warren has so stated to His and other Equitiesduke 09/02/17 08:09:09 AM
#20519   Sold my calls just now 2 point spread 09/01/17 11:31:11 AM
#20518   Just need the damn government to get off HMONNY 08/31/17 08:36:56 AM
#20516   That's good. I'm still in and out 2 point spread 08/30/17 01:54:08 PM
#20515   Buffet reiterates that HMONNY 08/30/17 10:34:43 AM
#20514   How much for the city of Houston? Or Lowjack 08/28/17 04:03:21 AM
#20513   The greatest bank to ever exist? Possibly! LONG Cryptocol 08/25/17 01:20:41 AM
#20512   Think Yellen might be gone regardless. She's been Equitiesduke 08/24/17 03:06:52 PM
#20511   Might get a pop since Yellen will need HMONNY 08/24/17 09:20:53 AM
#20510   Here's a after thought, and a bit of Equitiesduke 08/24/17 09:04:25 AM
#20509   Agree that support is around 22.+, and yes, Equitiesduke 08/23/17 03:41:34 PM
#20508   Seems that way dosen't it!? Equitiesduke 08/23/17 03:32:26 PM
#20507   Any idea why BAC is moving this way HMONNY 08/23/17 12:06:11 PM
#20506   Teasing us again ED! 10YR down by 3 HMONNY 08/23/17 10:14:08 AM
#20505   It seems to be moving in sync with HMONNY 08/21/17 11:50:30 AM
#20504   How low will this go? clearsudden 08/21/17 10:54:08 AM
#20503   This summer sell off, love it or hate HMONNY 08/21/17 10:24:35 AM
#20502   It is just that, a "tease". They have Equitiesduke 08/17/17 09:35:40 AM
#20501   Just don't understand why the tease at $25.50 HMONNY 08/17/17 09:19:43 AM
#20500   That is exactly what is happening! Equitiesduke 08/17/17 09:12:51 AM
#20499   We will get there. The sellers and buyers pennystockaholic 08/16/17 07:30:56 PM
#20498   Maybe. I was holding BaC at $15 this Agent92260 08/16/17 04:18:59 PM
#20497   So someone just needs to time this right HMONNY 08/16/17 04:18:57 PM
#20496   I agree with the due for correction, But HMONNY 08/16/17 04:12:42 PM
#20495   Fed holding on rate hikes. Banks rose very Agent92260 08/16/17 04:07:16 PM
#20494   Ask any institutional concern with a large block Equitiesduke 08/16/17 03:53:30 PM
#20493   I really don't get why we can't hold HMONNY 08/16/17 03:42:30 PM
#20492   $30 Is around the corner. Should be before Christmas pennystockaholic 08/16/17 03:23:11 PM
#20491   It hasn't held $25, but if you notice HMONNY 08/14/17 11:56:01 AM
#20490   What happen can't hold and pass 25?Any ideas tiger1966 08/13/17 08:50:17 PM
#20489   Looks good my friend. We will push higher soon. pennystockaholic 08/13/17 05:15:53 PM
#20488 robgera 08/12/17 01:02:23 PM
#20487   Your welcome keep the knowledge going. pennystockaholic 08/12/17 11:51:22 AM
#20486   Thank you very much. Equitiesduke 08/10/17 09:43:25 AM
#20485   Nice read thanks pennystockaholic 08/09/17 08:36:03 PM