New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
May 4, 2015
16:00 EDTBACOptions Update; May 4, 2015
Subscribe for More Information
09:35 EDTBACActive equity options trading on open
Subscribe for More Information
08:14 EDTBACBank of America to let shareholders vote on bylaw change in response to comments
Subscribe for More Information
May 1, 2015
16:02 EDTBACOn The Fly: Morning Wrap-Up for May 1
Subscribe for More Information
09:35 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB LNKD ALTR GILD TSLA BAC TWTR MSFT FEYE BIDU
07:20 EDTBACBank of America files $109.9M mixed securities shelf
April 30, 2015
06:26 EDTBACBanks, government dispute 'aggressive' foreign-bribery laws, WSJ reports
Subscribe for More Information
April 29, 2015
16:01 EDTBACOptions Update; April 29, 2015
iPath S&P 500 VIX Short-Term Futures up 47c to 21.24 Option volume leaders: AAPL TSLA TWTR GILD FB AMZN C MCD BAC CRM BIDU WYNN according to Track Data.
06:14 EDTBACSEC proposal would inform investors how pay aligns with results, WSJ reports
The SEC is today set to propose long-awaited rules that would force thousands of companies to inform investors how the pay of top management aligned with the firm's financial results, The Wall Street Journal reports. If approved, companies would have to include a table in their annual proxy filings disclosing "actual pay" of top executives. Reference Link
April 28, 2015
08:17 EDTBACBank of America probed by SEC over customer-protection rules, WSJ reports
Subscribe for More Information
April 23, 2015
09:35 EDTBACActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB PBR TWTR AA COST TSLA AMZN TXN BAC
07:03 EDTBACCapital Link to hold a forum
Subscribe for More Information
05:53 EDTBACBank of America appeals $1.3B toxic home loan penalty, Financial Times reports
Subscribe for More Information
April 22, 2015
08:47 EDTBACSouth State to acquire 13 branches from Bank of America
Subscribe for More Information
April 21, 2015
13:55 EDTBACBank of America Merrill Lynch to be fined GBP10M, Sky News says
The Financial Conduct Authority will fine Merrill Lynch International, a Bank of America Merrill Lynch subsidiary, GBP10M on Wednesday for incorrectly reporting certain financial transactions, reports Sky News, citing sources. http://news.sky.com/story/1469564/bank-of-america-braced-for-10m-fca-fine

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use