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Stock Market & Financial Investment News

News Breaks
April 28, 2014
08:34 EDTBACBank of America announces adjustment to estimated regulatory capital ratios
Bank of America Corporation announced a downward revision to the company’s previously disclosed regulatory capital amounts and ratios due to an incorrect adjustment related to the treatment of certain structured notes assumed in the Merrill Lynch & Co., Inc. acquisition in 2009. The reduction in the regulatory capital amounts and ratios has no impact on the company’s historical consolidated financial statements or shareholders’ equity, which were properly stated in accordance with accounting principles generally accepted in the United States of America. On April 16, the company issued a press release announcing preliminary financial results for the quarter ended March 31, 2014. As part of such release, the company included estimated preliminary Basel 3 capital amounts and ratios as well as Basel 1 capital amounts and ratios for 2013. Subsequent to the press release, the company discovered an incorrect adjustment being applied in the determination of regulatory capital related to the application of the fair value option to certain legacy Merrill Lynch structured notes resulting in an overstatement of its regulatory capital amounts and ratios. The company correctly adjusted for the cumulative unrealized change on structured notes accounted for under the fair value option, but it incorrectly adjusted for cumulative realized losses on Merrill Lynch issued structured notes that had matured or were redeemed by the company subsequent to the date of the Merrill Lynch acquisition. As a result, the company is making the following adjustments to the previously announced estimated preliminary capital ratios for the first quarter ended March 31, 2014: the estimated Basel 3 Standardized transition common equity tier 1 capital ratio was revised to 11.8 percent, down 5 basis points; the estimated tier 1 capital ratio was revised to 11.9 percent, down 21 basis points; the estimated total capital ratio was revised to 14.8 percent, down 21 basis points; and the estimated tier 1 leverage ratio was revised to 7.4 percent, down 12 basis points. On a fully phased-in basis, Bank of America estimates that for the first quarter ended March 31, 2014, the common equity tier 1 capital ratio under the Basel 3 Standardized approach decreased 27 basis points to 9.0 percent from the previously reported estimated ratio, and the estimate for the common equity tier 1 capital ratio under the Basel 3 Advanced approaches decreased 29 basis points to 9.6 percent from the previously reported estimated ratio. These ratios exceed the company’s estimated 2019 minimum common equity tier 1 ratio requirement, including buffers, of 8.5 percent.
News For BAC From The Last 14 Days
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May 20, 2015
16:00 EDTBACOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
08:21 EDTBACATM data theft soars to highest rate in two decades, WSJ says
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May 19, 2015
18:01 EDTBACAflac names Matthew Owenby as Chief Human Resources Officer
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16:01 EDTBACOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
09:37 EDTBACActive equity options trading on open
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06:24 EDTBACU.S. Bancorp and Bank of America win dismissal of mortgage claims, Reuters says
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May 18, 2015
16:00 EDTBACOptions Update; May 18, 2015
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09:46 EDTBACMPLX enters common unit sales agreement for up to $500M
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09:36 EDTBACActive equity options trading on open
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May 15, 2015
16:01 EDTBACOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:15 EDTBACBank of America reports April default rate 2.93% vs. 2.94% last month
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06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
May 14, 2015
16:00 EDTBACOptions Update; May 14, 2015
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May 13, 2015
09:39 EDTBACActive equity options trading on open
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07:29 EDTBACUBS to hold a conference
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May 12, 2015
14:13 EDTBACBove says it may be time to buy bank stocks
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May 11, 2015
16:00 EDTBACOptions Update; May 11, 2015
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09:58 EDTBACBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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09:37 EDTBACActive equity options trading on open
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08:18 EDTBACBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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