CHARLOTTE, N.C.,
July 3,
2023 /PRNewswire/ -- Bank of America's 2023
Dodd-Frank Act supervisory severely adverse stress test results,
submitted to the Federal Reserve as part of Bank of America's
Comprehensive Capital Analysis and Review (CCAR) submission on
April 5, 2023, are available on the
company's website at investor.bankofamerica.com. Bank of
America today commented on the results of the Federal Reserve's
2023 CCAR: Bank of America initiated dialogue with the Federal
Reserve to understand differences in Other Comprehensive Income
over the 9-quarter stress period between the Federal Reserve's CCAR
results and Bank of America's Dodd-Frank Act stress test
results.
Forward-Looking Statements
Certain statements contained in this news release may constitute
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent the current expectations, plans or forecasts
of Bank of America based on available information. Forward-looking
statements can be identified by the fact that they do not relate
strictly to historical or current facts. These statements often use
words like "expects," "anticipates," "believes," "estimates,"
"targets," "intends," "plans," "predict," "goal" and other similar
expressions or future or conditional verbs such as "will," "may,"
"might," "should," "would" and "could." Forward-looking statements
speak only as of the date they are made, and Bank of America
undertakes no obligation to update any forward-looking statement to
reflect the impact of circumstances or events that arise after the
date the forward-looking statement was made.
Forward-looking statements represent Bank of America's current
expectations, plans or forecasts of its future results, revenues,
expenses, dividends, efficiency ratio, capital measures, and future
business and economic conditions more generally, and other future
matters. These statements are not guarantees of future results or
performance and involve certain known and unknown risks,
uncertainties and assumptions that are difficult to predict and are
often beyond Bank of America's control. Actual outcomes and results
may differ materially from those expressed in, or implied by, any
forward-looking statements due to a variety of factors. You should
not place undue reliance on any forward-looking statement and
should consider all of the precautionary statements, uncertainties
and risks discussed in Bank of America's filings with the
Securities and Exchange Commission, including in Bank of America's
Current Report on Form 8-K dated October 20,
2021, announcing Bank of America's common stock repurchase
program, under Item 1A. "Risk Factors" of Bank of America's Annual
Report on Form 10-K for the year ended December 31, 2022, and in any of Bank of
America's other subsequent Securities and Exchange Commission
filings.
Bank of America
Bank 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 68 million consumer and small
business clients with approximately 3,900 retail financial centers,
approximately 15,000 ATMs and award-winning digital
banking with approximately 56 million verified digital users. Bank
of America is a global leader in wealth management, 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
households through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations across the United
States, its territories and more than 35 countries. Bank of
America Corporation stock (NYSE: BAC) is listed on the New York
Stock Exchange.
For more Bank of America news, including dividend announcements
and other important information, and register for news email
alerts.
Investors May Contact:
Lee
McEntire, Bank of America
Phone: 1.980.388.6780
lee.mcentire@bofa.com
Jonathan G. Blum, Bank of America
(Fixed Income)
Phone: 1.212.449.3112
jonathan.blum@bofa.com
Reporters May Contact:
Bill
Halldin, Bank of America
Phone: 1.916.724.0093
william.halldin@bofa.com
Christopher P. Feeney, Bank of
America
Phone: 1.980.386.6794
christopher.feeney@bofa.com
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SOURCE Bank of America Corporation