"Berkshire is ramping up its bet on Bank of America after receiving the green light from the Federal Reserve when its holdings surpassed a 10% ownership level, a key threshold requiring regulatory review. Buffett asked policy makers last year for permission to boost the stake, and the Federal Reserve Bank of Richmond issued a no-objection letter on April 20, according to a spokesperson.
Berkshire’s Bank of America stake, which started from preferred stock and warrants, has transformed into one of the Omaha, Nebraska-based conglomerate’s largest holdings. At the end of March, it was Berkshire’s second-largest by market value, behind Apple Inc."
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