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Bank of America Corp. (BAC)

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Last Post: 11/18/2015 3:39:01 PM - Followers: 380 - 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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Current Price
Bid Ask Day's Range
BAC News: 4 Reasons Why Millennials May Be Worse Off Than Baby Boomers Come Retirement 11/28/2015 02:01:04 PM
BAC News: What Is a Mortgage Broker, and Should You Use One? 11/28/2015 07:16:02 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/27/2015 05:05:49 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/27/2015 02:20:46 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/25/2015 05:29:04 PM
#18637   $20.00 in days and then quickly to $25.00. farviewhill 11/18/15 03:39:01 PM
#18636   From now until it goes to 20 I GVInvestments 11/13/15 04:19:48 PM
#18635   Negative deposit rates coming to a bankrupt country Lowjack 11/13/15 03:38:28 PM
#18634   There is a gap at $15.38 and $16.20 moneymaker$ 11/13/15 01:16:57 PM
#18633   Appears the gaps are filled in nicely ... fishreplicas1 11/13/15 10:20:53 AM
#18632   Loading up with Bac shares. 20 coming. GVInvestments 11/12/15 09:42:18 PM
#18631   Agreed my other tickets are moving as well. Thanks Bostonsesco 11/11/15 11:06:50 AM
#18630   I assume open ... BAC has traded 13,000 fishreplicas1 11/11/15 08:46:35 AM
#18629   Anyone know if the markets open today? Bostonsesco 11/11/15 08:20:31 AM
#18628 stocksnoway 11/11/15 01:30:00 AM
#18627   See did we!!! Love those 50 cent dips! Got a stocksnoway 11/10/15 11:19:14 AM
#18626   Added more shares today. 20 coming soon. GVInvestments 11/10/15 02:24:50 AM
#18625   BAC is on sale today! farviewhill 11/09/15 07:40:53 PM
#18624   Running with the DEVIL!!!!!! Lmao Bang bang bang!!! How long will stocksnoway 11/06/15 10:47:24 AM
#18623   BAC selling money market funds. Mooseo1 11/05/15 05:54:44 PM
#18622   BAC to hit $20 a share. Mooseo1 11/05/15 05:43:05 PM
#18621   50% return of principal on Treasuries is the Lowjack 11/05/15 11:01:29 AM
#18620   Trump! stocksnoway 11/04/15 02:34:43 AM
#18619   Trump! Asked whether the Fed should raise rates, Trump, stocksnoway 11/04/15 02:32:46 AM
#18618   Still sad to see your own federal government stocksnoway 11/03/15 01:02:27 PM
#18617   Nice find! Agent92260 11/03/15 10:29:59 AM
#18616   Think again Jack! By Trevor Hunnicutt NEW YORK (Reuters) - stocksnoway 11/03/15 09:46:11 AM
#18615   Liabilities > Assets = Worthless! Lowjack 11/03/15 03:57:43 AM
#18614   CNBC reported these findings a day after Citigroup stocksnoway 10/31/15 12:56:39 PM
#18613   Bank of America Corp. (NYSE:BAC) has forked over stocksnoway 10/31/15 12:56:14 PM
#18612   YOU CAN'T INVEST HERE AND HERE IS WHY! stocksnoway 10/31/15 12:54:42 PM
#18611   BofA reaches $335M settlement of suit over financial-crisis Sone 10/30/15 08:49:07 PM
#18610   Buy this up if it dips to 16 magness 10/29/15 02:45:58 PM
#18609   Caught nice push on these banks at open rmjackson 10/29/15 02:42:18 PM
#18608   The Feds are making new sounds that a farviewhill 10/28/15 09:24:32 PM
#18607   BAM BAM BAM <----------- stocksnoway 10/28/15 06:59:07 PM
#18606   Won't last to many flippers Sone 10/28/15 03:23:07 PM
#18605   Womp-womp. Maybe priced to perfection already. Idk. BAC Agent92260 10/28/15 03:09:29 PM
#18604   Wells Fargo no pop Sone 10/28/15 02:43:31 PM
#18603   Fed showing hawkish language in meeting notes. Agent92260 10/28/15 02:42:37 PM
#18602   Why the 4% pop? Sone 10/28/15 02:41:47 PM
#18601   Boom! Looking good! Agent92260 10/28/15 02:38:10 PM
#18600   EU can't even bring itself to bomb and x1power 10/26/15 12:26:06 PM
#18599   Greek bailout: Greece's banks are dying, and fast Mooseo1 10/26/15 09:20:47 AM
#18598   Our U.S. unemployment rate was high in 2008, too. legalizeMJ 10/25/15 11:59:29 PM
#18597   Greece will not pay its debt back. Unemployed moneymaker$ 10/25/15 09:41:26 PM
#18596   BAC(2008 US bank crisis) vs EGFEY(2015 Greek bank crisis). legalizeMJ 10/25/15 07:17:47 PM
#18595   DITTO here too. stocksnoway 10/23/15 06:29:28 PM
#18594   I think it goes to 25 next year. GVInvestments 10/23/15 05:41:47 PM
#18593   Nice run today. Someone said 17 soon? I guess WEGO stocksnoway 10/23/15 10:47:19 AM
#18589   If that were to happen I'll buy another GVInvestments 10/22/15 04:57:23 AM
#18588   The ask hangover is still in place. We stocksnoway 10/21/15 05:01:15 PM
#18587   Today is a Great buying oportunity as the GVInvestments 10/21/15 04:41:24 PM
#18586   Good post. farviewhill 10/21/15 04:41:13 PM
#18585   There is no room for haters. Wall street GVInvestments 10/21/15 04:04:02 PM