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Bank of America Corp. (BAC)

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Last Post: 11/8/2018 10:29:04 AM - Followers: 416 - Board type: Free - Posts Today: 0

 

Website: https://www.bankofamerica.com/


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.
Website: www.ml.com/US

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.
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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.

Headquarters:
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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#21057   The thought of Maxine Waters still has not HMONNY 11/08/18 10:29:04 AM
#21056   The trend line has been going down for Rome Ferrari 10/25/18 02:43:03 PM
#21055   BAC is going to start falling down soon again Rome Ferrari 10/25/18 02:42:04 PM
#21054   Started new position at 26.17. GL longs. Agent92260 10/24/18 03:54:19 PM
#21053   Why did Jim Cramer of The Street put bige777 10/23/18 11:10:22 AM
#21052   Bank of America $BAC Just Broke Down: Here ITMS 10/22/18 03:37:39 PM
#21051   Heavily manipulated. Tried to buy some over the jimtash 10/19/18 09:49:57 PM
#21050   Bought warrants yesterday. Up huge. willlbone 10/17/18 02:01:15 PM
#21049   I think so too! kermel 10/17/18 01:53:21 PM
#21048   31 by Friday or Monday. jimtash 10/17/18 01:01:00 PM
#21047   Way to go BAC green again! kermel 10/17/18 11:52:10 AM
#21046   KARMA coming buddy! Enjoy it! DF 10/17/18 10:16:00 AM
#21045   You can convert them to stock for 30.79 jimtash 10/16/18 06:19:23 PM
#21044   All I was trying to do was trade J-Bo 10/16/18 06:15:54 PM
#21043   There are a and b warrants. B"s expire jimtash 10/16/18 04:24:37 PM
#21042   I did not know that. Man, I J-Bo 10/16/18 04:02:49 PM
#21041   The b warrants won't go up until the jimtash 10/16/18 03:58:32 PM
#21040   I don’t understand why the warrants dropped so J-Bo 10/16/18 03:54:14 PM
#21039   Warrants expire next week. They have til the jimtash 10/16/18 01:50:05 PM
#21038   This is what it should have been doing EZEKIEL 10/16/18 01:42:35 PM
#21037   I agreed! goes green today kermel 10/16/18 11:09:14 AM
#21036   Third-quarter financial news was fantastic. No reason whatsoever bige777 10/16/18 06:55:13 AM
#21035   Hope not man! I bought in average $28. kermel 10/15/18 07:59:12 PM
#21034   Nope. Goes to 26 tomorrow. jimtash 10/15/18 06:31:57 PM
#21033   I know I feel the same, but in kermel 10/15/18 11:11:21 AM
#21032   This is BS!! It should run green after EZEKIEL 10/15/18 09:54:54 AM
#21031   I know. Makes no sense. jimtash 10/15/18 09:48:34 AM
#21030   Bac beats estimates increased revenues and it goes clearsudden 10/15/18 09:35:12 AM
#21029   Will backup $30 by next week! kermel 10/12/18 02:10:28 PM
#21028   $31.00 is a number that BAC is having EZEKIEL 10/10/18 02:23:23 PM
#21027   Expect 31 breakout going into earnings jimtash 10/07/18 07:23:24 PM
#21026   Naw that means more money for banks. 31 jimtash 10/05/18 11:29:53 PM
#21025   10-year note's yield=up is bad for BAC legalizeMJ 10/05/18 12:32:58 PM
#21024   Should start to test 31 real soon. jimtash 10/05/18 06:01:00 AM
#21023   I say good. $BAC JLHammer 10/03/18 08:14:30 AM
#21022   Let's see how this week finish out. $BAC pennystockaholic 10/03/18 06:40:30 AM
#21021   Back of America hangs by a thread and nowwhat2 10/02/18 08:18:16 AM
#21020   Up .40 premarket on Nafta news. jimtash 10/01/18 06:23:22 AM
#21019   Coming from someone who posted the exact same EZEKIEL 10/01/18 06:10:51 AM
#21018   This will drop to double digits tomorrow when RetroSpect 10/01/18 12:57:03 AM
#21017   BAC has a hard time with $31.00. If EZEKIEL 09/26/18 08:51:41 AM
#21016   Hopefully before my warrants expire. jimtash 09/19/18 06:28:05 AM
#21015   I have this feeling it'll eventually channel up HMONNY 09/18/18 08:51:40 PM
#21014   Do we see a channel up anytime soon? HMONNY 09/18/18 08:50:55 PM
#21013   Correction: A typo advised share price was about 1.5 Equitiesduke 09/16/18 11:45:00 AM
#21012   P.S. to previous. Equitiesduke 09/14/18 11:45:40 AM
#21011   Really pathetic that this "manipulation" is ALLOWED! Equitiesduke 09/14/18 11:40:29 AM
#21010   Yep. Warrants expire next month. Manipulation is a given. jimtash 09/13/18 07:15:08 PM
#21009   This stock should have hit $40 already. It’s Spumoni 09/13/18 11:46:42 AM
#21008   I bought in 2 years ago at $12.50, EZEKIEL 09/13/18 10:36:44 AM
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