Bank of America to Use Advanced Approaches for Capital Requirements
September 03 2015 - 4:15PM
Business Wire
Bank of America today announced the Federal Reserve Board and
the Office of the Comptroller of the Currency have permitted Bank
of America and its national subsidiary banks to begin using the
Advanced approaches capital framework to determine risk-based
capital requirements in the fourth quarter of 2015.
With the approval to exit parallel run, Bank of America will be
required to report regulatory capital ratios and risk-weighted
assets under both the Standardized and Advanced approaches. The
approach that yields the lower ratio is to be used to assess
capital adequacy.
As previously disclosed in the company’s second-quarter 2015
10-Q filing, incorporating certain modifications into the company’s
internal analytical models results in an estimated pro-forma Basel
3 Common Equity Tier 1 ratio on a fully phased-in basis of
approximately 9.3 percent at June 30, 20151.
1 Bank of America’s Basel 3 Advanced approaches estimate
reflects the full impact of Basel 3 changes to capital composition
after the transition period ends on January 1, 2019. This estimate
also assumes approval by U.S. banking regulators of the company’s
Internal Models Methodology (IMM).
Bank of AmericaBank of America is one of the world's leading
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. The company provides
unmatched convenience in the United States, serving approximately
48 million consumer and small business relationships with
approximately 4,800 retail financial centers, approximately 16,000
ATMs, and award-winning online banking with 31 million active users
and approximately 18 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 all 50 states, the District of Columbia, the U.S.
Virgin Islands, Puerto Rico and more than 35 countries. Bank of
America Corporation stock (NYSE: BAC) is listed on the New York
Stock Exchange.
Visit the Bank of America newsroom for more Bank of America
news.
www.bankofamerica.com
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version on businesswire.com: http://www.businesswire.com/news/home/20150903006480/en/
Investors May Contact:Lee McEntire, Bank of America,
1.980.388.6780Jonathan Blum, Bank of America (Fixed Income),
1.212.449.3112Reporters May Contact:Jerry Dubrowski, Bank of
America, 1.980.388.2840jerome.f.dubrowski@bankofamerica.com
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