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schrieb am 19.02.09 19:54:30
BofA CFO Price: Bank remains strong
Bank of America Corp. Chief Financial Officer Joe Price is assuring
employees that the bank has enough cash to finance operations for
more than two years, according to a question-and-answer dialogue
posted on the company’s Intranet site Friday.
“Market turmoil has created lingering industrywide concerns that
magnify the importance of maintaining an extra level of capital to
support business activities," Price said. "We currently have enough
cash on hand to fund our parent company operations for more than
two years without having to issue additional debt during that
time.”
Price stressed the importance of the bank's liquidity throughout
the Q&A.
Price also touted the bank's approach to serve a diverse base of
clients -- consumer, commercial and corporate -- allowing both
interest income and non-interest income to be brought in.
"This business diversity, combined with our integrated delivery
model, positions us to deepen relationships across our large and
growing customer base," Price said.
BofA (NYSE:BAC) is the largest bank in Los Angeles and the state of
California.
------------------------------------------------------------------
Bank of America Makes $402 Million TARP Dividend Payment to U.S.
Government
CHARLOTTE, N.C., Feb. 17 /PRNewswire/ -- Bank of America
Corporation (News/Aktienkurs) today announced that it made its
first dividend payment to the U.S. government under the Troubled
Asset Relief Program.
The payment, totaling $402 million, reflects Bank of America's
ongoing commitment to paying back U.S. taxpayers. Today's payment
represents the dividend on the Fixed-Rate Cumulative Perpetual
Preferred Stock issued in connection with the $45 billion in
government investments that Bank of America received in late 2008
and early 2009.
Approximately $223 million relates to the federal government's $15
billion investment in Bank of America made under the Capital
Purchase Program of the Troubled Asset Relief legislation and an
additional $50 million relates to the federal government's $10
billion investment in Bank of America as part of the agreement to
acquire Merrill Lynch&Co., Inc. The remaining $129 million
stems from the government's $20 billion investment on January 16 to
help facilitate the acquisition of Merrill Lynch. Total cash
dividend payments to the government in 2009 will reach
approximately $2.8 billion.
"It is our intention to pay back these loans, as soon as possible,"
said Bank of America Chairman and Chief Executive Officer Ken
Lewis. "In the meantime, we are using these funds to support the
U.S. economy by extending credit to individuals and
businesses."
Bank of America extended more than $115 billion in new credit
during the fourth quarter of 2008, of which about $49 billion was
in commercial non-real estate; $45 billion was in mortgages; nearly
$8 billion was in domestic card and unsecured consumer loans;
nearly $7 billion was in commercial real estate; more than $5
billion was in home equity products; and approximately $2 billion
was in consumer Dealer Financial Services.
Bank of America also committed to assisting as many as 630,000
customers to help them stay in their homes, representing more than
$100 billion in mortgage financing. In 2008, the company modified
approximately 230,000 home loans - representing more than $44
billion in mortgage financing. Bank of America also modified nearly
700,000 credit card loans for borrowers experiencing financial
hardship last year.
Bank of America
Bank of America is one of the world's largest 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 more than 59 million consumer and
small business relationships with more than 6,100 retail banking
offices, nearly 18,700 ATMs and award-winning online banking with
nearly 29 million active users. Following the acquisition of
Merrill Lynch on January 1, 2009, 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 more than 4 million small
business owners through a suite of innovative, easy-to-use online
products and services. The company serves clients in more than 150
countries. Bank of America Corporation stock is a component of the
Dow Jones Industrial Average and is listed on the New York Stock
Exchange.
http://www.bankofamerica.com/
-------------------------------------------------------------------
Bank of America Applauds President Obama's Homeowner
Affordability and Stability Plan
CALABASAS, Calif., Feb. 18 /PRNewswire/ -- Bank of America
(News/Aktienkurs) today said it applauds the Obama administration's
Homeowner Affordability and Stability Plan focused on assisting
homeowners with their mortgage payments through refinancing and a
loan modification program.
"We support the administration's focus on affordability in the loan
modification and refinance processes in order to achieve long-term
mortgage sustainability for homeowners," said Barbara Desoer,
president of Bank of America Mortgage, Home Equity and Insurance
Services. "Bank of America is committed to helping our customers
sustain homeownership."
Bank of America last week announced a moratorium on foreclosure
sales. Desoer said the moratorium will be extended until
eligibility details for the Homeowner Affordability and Stability
Plan are released. Bank of America's foreclosure sales moratorium
includes first mortgage loans owned and serviced by Bank of
America, Countrywide and subsidiaries of Merrill Lynch, as well as
those owned by investors who have agreed to the terms of the
moratorium.
"We want to ensure that any borrower who has sufficient income and
the desire to sustain homeownership has the ability to do so using
any and all tools we have available," she said.
"The administration's focus is consistent with the approach we have
successfully been using with our customers, which has led to more
than 230,000 loan modifications for our customers in 2008, and
another 39,000 customers in January alone," said Desoer. "We look
forward to continuing to work with the Obama administration in the
development of detailed guidelines for the modification and
refinance plans to ensure success of the Homeowner Affordability
and Stability Plan."
In 2008, Bank of America committed to offer over the next three
years loan modifications to as many as 630,000 customers to help
them stay in their homes, representing more than $100 billion in
mortgage financing. More than 5,900 associates are focused on home
retention efforts on behalf of Bank of America and Countrywide
customers.
Bank of America
Bank of America is one of the world's largest 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 more than 59 million consumer and
small business relationships with more than 6,100 retail banking
offices, nearly 18,700 ATMs and award-winning online banking with
nearly 29 million active users. Following the acquisition of
Merrill Lynch on January 1, 2009, 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 more than 4 million small
business owners through a suite of innovative, easy-to-use online
products and services. The company serves clients in more than 150
countries. Bank of America Corporation stock is a component of the
Dow Jones Industrial Average and is listed on the New York Stock
Exchange.
http://www.bankofamerica.com/
schrieb am 19.02.09 19:59:17
BofA, Citi shares fall on nationalization fear
Thu Feb 19, 2009 1:04pm EST Email | Print | Share| Reprints |
Single Page[-] Text [+]
1 of 2Full SizeRelated News
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More Business & Investing News... NEW YORK (Reuters) -
Citigroup Inc shares fell to 17-year lows on Thursday, with Bank of
America Corp stock also plunging, amid renewed fears that growing
losses could lead to government control of troubled U.S. banks,
wiping out shareholders.
Bank of America shares were down 10.7 percent to $4.07 in morning
trading on the New York Stock Exchange, while Citigroup stock fell
10 percent to $2.62, after touching its lowest level since
1991.
"When you talk about nationalization you hear the names Citi and
Bank of America as the top two names burning out," said Walter
Todd, a portfolio manager at Greenwood Capital Associates.
"We still don't have any clarity about what course of action they
(the government) are going to take. In the absence of specifics,
people just jump to their own conclusions," he added.
Last month, Bank of America Corp posted its first quarterly loss in
17 years, after mounting losses at recently acquired Merrill Lynch.
Citigroup has lost $28.5 billion in the last 15 months, hammered by
bad debts and toxic assets.
Each bank received $45 billion in government aid in recent months
and a backstop on toxic assets-related losses.
(Reporting by Juan Lagorio, editing by Matthew Lewis)
bei citi kann ich mir das vorstellen, bei bofa
nicht!!
schrieb am 19.02.09 20:40:14
Kann das bitte jemand Sinngemäss wieder geben
Vielen Dank
schrieb am 20.02.09 08:17:45
20.02.2009 05:14
UPDATE 1-BofA CEO subpoenaed, sees no nationalization-WSJ
NEW YORK, Feb 19 (Reuters) - Bank of America Corp (News/Aktienkurs)
Chairman and Chief Executive Kenneth Lewis was subpoenaed last week
by New York Attorney General Andrew Cuomo, who is investigating
whether the bank violated state law by withholding information from
investors, the Wall Street Journal said late Thursday, citing
people familiar with the matter.
Investigators took testimony all day Thursday from former Merrill
Chief Executive John Thain, the newspaper said, citing the people.
Thain was asked about $4 billion in bonuses paid to Merrill
employees, and in particular why Bank of America's merger agreement
with Merrill contained a nonpublic attachment outlining the maximum
Merrill could pay, the newspaper said.
Separately, Lewis told Bank of America executives at a senior
leadership meeting on Thursday that Washington policy officials
have assured him that the possibility of nationalizing the largest
U.S. bank by assets is not on the table, the newspaper said, citing
a person at the meeting.
Cuomo's office, Bank of America and a spokesman for Thain did not
return calls seeking comment. Spokesmen for Bank of America and
Thain declined to comment to the newspaper.
Lewis would be the highest-profile subject of Cuomo's examination
of Charlotte, North Carolina-based Bank of America's purchase of
New York-based Merrill on Jan. 1.
Barely two weeks after the closing, Bank of America revealed that
Merrill lost $15.31 billion in the fourth quarter, and got an
emergency federal bailout including $20 billion of new capital and
a loss-sharing agreement on $118 billion of troubled assets.
Bank of America shares closed down 14 percent at $3.93 on Thursday
on fears that losses from Merrill, credit cards, recently acquired
mortgage lender Countrywide Financial Corp and other areas could
lead to government control, wiping out shareholders. Lewis has run
Bank of America since 2001.
Cuomo's investigators are probing, among other things, whether
trading losses were adequately disclosed to shareholders and boards
of both companies, and what top executives approving the bonuses
knew about the losses, the newspaper said.
(Reporting by Jonathan Stempel, Editing by Muralikumar
Anantharaman) Keywords: BANKOFAMERICA/MERRILL
(jon.stempel@thomsonreuters.com +1 646 223 6317; Reuters Messaging:
jon.stempel.reuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News
Content, including by framing or similar means, is expressly
prohibited without the prior written consent of Thomson
Reuters.
schrieb am 20.02.09 08:23:51
schrieb am 20.02.09 08:50:52
Antwort auf Beitrag Nr.:
36.616.778 von Finanzriese am 20.02.09
08:23:51abacho-übersetzer
Am 20.02.2009 sieht 05:14-AKTUALISIERUNG 1-BofA vorgeladener CEO,
keine Nationalisierung-WSJ NEW YORK, am 19. Febr (Reuters) - Bank
der Handelsgesellschaft von Amerika (News/Aktienkurs) Vorsitzender
und Leitender Angestellter Kenneth Lewis wurden letzte Woche vom
New Yorker Obersten Justizbeamten Andrew Cuomo vorgeladen, der
nachforscht, ob die Bank Rechtsordnung des Einzelstaates verletzte,
Information von Kapitalanlegern vorenthaltend, das Wall Street
Journal sagte späten Donnerstag, mit der Sache vertraute Leute
zitierend. Ermittlungsbeamte nahmen Zeugnis den ganzen Tag am
Donnerstag vom ehemaligen Merrill Leitenden Angestellten John
Thain, die Zeitung sagte, die Leute zitierend. Thain wurde ungefähr
4 Milliarden $ in Bonus bezahlt Merrill Angestellten, und
insbesondere gefragt, warum die Bank Amerikas \ Fusionsabmachung
mit Merrill eine nichtöffentliche Verhaftung enthielt, die den
maximalen Merrill entwirft, konnte zahlen, die Zeitung sagte.
Getrennt sagte Lewis Bank von Managern von Amerika an einer älteren
Führung, die sich am Donnerstag trifft, dass Washingtoner
Politikbeamte ihn versichert haben, dass die Möglichkeit, die
größte US-amerikanische Bank durch das Vermögen einzubürgern, nicht
auf dem Tisch ist, sagte die Zeitung, eine Person an der Sitzung
zitierend. Cuomo \'s Büro, Bank Amerikas und ein Sprecher für Thain
gab Anrufe nicht zurück, Anmerkung suchend. Sprecher für die Bank
Amerikas und Thain lehnten ab, zur Zeitung zu kommentieren. Lewis
würde das Thema des höchsten Profils von Cuomo \'s Überprüfung von
Charlotte, Carolina-basierte Nordbank Amerikas \ Kauf von Neuem mit
Sitz York Merrill am 1. Januar sein. Kaum zwei Wochen nach dem
Schließen offenbarte die Bank Amerikas, dass Merrill 15.31
Milliarden $ im vierten Viertel verlor, und eine
Notbundessicherheitsleistung einschließlich 20 Milliarden $ der
neuen Hauptstadt und einer Verlust teilenden Abmachung auf 118
Milliarden $ des beunruhigten Vermögens bekam. Die Bank von
Anteilen von Amerika schloss 14 Prozent an 3.93 $ am Donnerstag auf
Ängsten, dass Verluste von Merrill, Kreditkarten, kürzlich
Hypothekenverleiher Im ganzen Land erwarben, konnten
Finanzhandelsgesellschaft und andere Gebiete zu Regierungskontrolle
führen, Aktionäre wegwischend. Lewis hat Bank Amerikas seit 2001
geführt. Cuomo \'s Ermittlungsbeamte dringen unter anderem
forschend ein, ob Handelsverluste Aktionären und Ausschüssen von
beiden Gesellschaften entsprechend bekannt gegeben wurden, und was
Leitende Angestellte, die die Bonus genehmigen, über die Verluste
wussten, sagte die Zeitung. (Bericht durch Jonathan Stempel, durch
Muralikumar Anantharaman Editierend), Schlüsselwörter:
BANKOFAMERICA/MERRILL (jon.stempel@thomsonreuters.com +1 646223
6317; Nachrichtenübermittlung von Reuters:
jon.stempel.reuters.com@reuters.net) URHEBERRECHTS-Copyright
Thomson Reuters 2009. Alle Rechte vorbehalten. Das Kopieren, die
Neuauflage oder die Neuverteilung des Nachrichteninhalts von
Reuters, einschließlich sich entwickelnd oder ähnlicher Mittel,
werden ohne die vorherige schriftliche Zustimmung von Thomson
Reuters ausdrücklich verboten.
schrieb am 20.02.09 10:38:29
Über Thomson Reuters
Zeitung - Offenbar keine Bank-of-America-Verstaatlichung
geplant
Freitag, 20. Februar 2009, 10:03 Uhr
Diesen Artikel drucken
[-] Text [+]
New York (Reuters) - Der Bank of America (BoA) droht einem
Zeitungsbericht zufolge offenbar keine Verstaatlichung.
Hochrangige Politiker hätten ihm versichert, dass eine
Verstaatlichung seines Instituts keine Option sei, erklärte
Firmenchef Kenneth Lewis gegenüber Führungskräften des Instituts,
wie das "Wall Street Journal" in der Nacht auf Freitag berichtete.
Am Donnerstag waren die Papiere der Bank um 14 Prozent abgestürzt.
Händler machten dafür Spekulationen über eine mögliche
Verstaatlichung der nach Anlagen größten Bank des Landes im Fall
von wachsenden Verlusten verantwortlich.
BoA macht besonders die im Eilverfahren durchgezogene Übernahme der
Investmentbank Merrill Lynch zu schaffen, deren Details von der
Staatsanwaltschaft überprüft werden. Laut "Wall Street Journal" hat
der New Yorker Staatsanwaltschaft Andrew Cuomo deshalb auch
BoA-Chef Lewis vorgeladen. Cuomo untersucht unter anderem, ob den
Aktionären bei der Merrill-Übernahme Informationen vorenthalten
wurden und ob Boni-Zahlungen angesichts der horrenden Verluste
gerechtfertigt waren.
© Thomson Reuters 2009 Alle Rechte vorbehalten.
http://de.reuters.com/article/topNews/idDEBEE51J04X20090220
schrieb am 20.02.09 14:42:05
... wenn die kanonen donnern, und die donnern gewaltig!!
schrieb am 20.02.09 14:45:46
Antwort auf Beitrag Nr.:
36.620.646 von Finanzriese am 20.02.09
14:42:05Sie werden nächste Woche noch "immer weiter
Donnern", ich warte lieber bis das Gewitter an uns vorbei zieht....

schrieb am 20.02.09 15:09:47
Antwort auf Beitrag Nr.:
36.620.691 von Uptick08 am 20.02.09
14:45:46ich kann wenigstens sagen, ich war dabei, egal
wie das hier ausgeht!!
Verstaatlichung - citi ja, boa nein!
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