[ ü ] |
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2010 |
[ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of each class | Name of each exchange on which registered | |||
Common Stock, par value $0.01 per share
|
New York Stock Exchange | |||
London Stock Exchange | ||||
Tokyo Stock Exchange | ||||
Depositary Shares, each Representing a
1/1,000
th
interest in a share of
6.204% Non-Cumulative Preferred Stock, Series D |
New York Stock Exchange | |||
Depositary Shares, each Representing a
1/1,000
th
interest in a share of Floating Rate Non-Cumulative Preferred
Stock, Series E
|
New York Stock Exchange | |||
Depositary Shares, each Representing a
1/1,000
th
Interest in a Share of 8.20% Non-Cumulative Preferred Stock,
Series H
|
New York Stock Exchange | |||
Depositary Shares, each Representing a
1/1,000
th
interest in a share of 6.625% Non-Cumulative Preferred Stock,
Series I
|
New York Stock Exchange | |||
Depositary Shares, each Representing a
1/1,000
th
interest in a share of 7.25% Non-Cumulative Preferred Stock,
Series J
|
New York Stock Exchange | |||
7.25% Non-Cumulative Perpetual Convertible Preferred Stock,
Series L
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/1,200
th
interest in a share of Bank of America Corporation Floating Rate
Non-Cumulative Preferred Stock, Series 1
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/1,200
th
interest in a share of Bank of America Corporation Floating Rate
Non-Cumulative Preferred Stock, Series 2
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/1,200
th
interest in a share of Bank of America Corporation 6.375%
Non-Cumulative Preferred Stock, Series 3
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/1,200
th
interest in a share of Bank of America Corporation Floating Rate
Non-Cumulative Preferred Stock, Series 4
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/1,200
th
interest in a share of Bank of America Corporation Floating Rate
Non-Cumulative Preferred Stock, Series 5
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/40
th
interest in a share of Bank of America Corporation 6.70%
Non-cumulative Perpetual Preferred Stock, Series 6
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/40
th
interest in a share of Bank of America Corporation 6.25%
Non-cumulative Perpetual Preferred Stock, Series 7
|
New York Stock Exchange | |||
Depositary Shares, each representing a
1/1,200
th
interest in a share of Bank of America Corporation 8.625%
Non-Cumulative Preferred Stock, Series 8
|
New York Stock Exchange | |||
6.75% Trust Preferred Securities of Countrywide
Capital IV (and the guarantees related thereto)
|
New York Stock Exchange | |||
7.00% Capital Securities of Countrywide Capital V (and the
guarantees related thereto)
|
New York Stock Exchange | |||
Capital Securities of BAC Capital Trust I (and the
guarantee related thereto)
|
New York Stock Exchange | |||
Capital Securities of BAC Capital Trust II (and the
guarantee related thereto)
|
New York Stock Exchange | |||
Capital Securities of BAC Capital Trust III (and the
guarantee related thereto)
|
New York Stock Exchange | |||
5
7
/
8
%
Capital Securities of BAC Capital Trust IV (and the
guarantee related thereto)
|
New York Stock Exchange | |||
6% Capital Securities of BAC Capital Trust V (and the
guarantee related thereto)
|
New York Stock Exchange | |||
6% Capital Securities of BAC Capital Trust VIII (and the
guarantee related thereto)
|
New York Stock Exchange | |||
6
1
/
4
%
Capital Securities of BAC Capital Trust X (and the
guarantee related thereto)
|
New York Stock Exchange | |||
6
7
/
8
%
Capital Securities of BAC Capital Trust XII (and the
guarantee related thereto)
|
New York Stock Exchange |
Title of each class
Name of each exchange on which registered
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
NYSE Amex
NYSE Amex
NYSE Amex
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Amex
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
NYSE Arca, Inc.
Large accelerated
filer
ü
|
Accelerated filer | Non-accelerated filer | Smaller reporting company | |||
(do not check if a smaller reporting company) |
Item 1.
Business
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mandating that the Federal Reserve Board limit debit card
interchange fees;
banning banking organizations from engaging in proprietary
trading and restricting their sponsorship of, or investing in,
hedge funds and private equity funds, subject to limited
exceptions;
increasing regulation of the derivative markets through measures
that broaden the derivative instruments subject to regulation
and requiring clearing and exchange trading as well as imposing
additional capital and margin requirements for derivative market
participants;
changing the assessment base used in calculating FDIC deposit
insurance fees from assessable deposits to total assets less
tangible capital;
providing for heightened capital, liquidity, and prudential
regulation and supervision over systemically important financial
institutions;
providing for new resolution authority to establish a process to
unwind large systemically important financial institutions and
requiring the development and implementation of recovery and
resolution plans;
creating a new regulatory body to set requirements around the
terms and conditions of consumer financial products and
expanding the role of state regulators in enforcing consumer
protection requirements over banks.
disqualifying trust preferred securities and certain other
hybrid capital securities from Tier 1 capital;
including a variety of corporate governance and executive
compensation provisions and requirements; and
requiring securitizers to retain a portion of the risk that
would otherwise be transferred into certain securitization
transactions.
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Table of Contents
Item 1A.
Risk
Factors
Table of Contents
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Table of Contents
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Table of Contents
Item 1B.
Unresolved
Staff Comments
Item 2.
Properties
Primary Business
Bank Occupied Space and Amount
Facility Name
Location
Property Type
Segment
Property Status
Leased to
3
rd
Parties
Corporate
Center
Charlotte,
NC
60 story building
Principal Executive
Offices All Business
Segments
Owned
Directly occupy 50% (624,153 sq. ft.)
of building while subleasing an
additional 48% (576,233 sq. ft.) of the space.
1 Bank of
America Center
Charlotte,
NC
30 story building
Deposits, Home
Loans & Insurance,
GBAM
and
GWIM
Owned
Directly occupy 21% (159,000 sq. ft.)
of building while subleasing an additional 10%
(75,000 sq. ft.) of the space.
4 World
Financial Center
New York,
NY
34 story building
(North Tower)
GBAM
49%
Owned
(1)
Directly occupy 100% (1,803,157 sq. ft.)
of building
One Bryant
Park
New York,
NY
51 Story building
GBAM
49.9%
Owned
(1)
Directly occupy 74% (1,834,969 sq. ft.)
of building
100 Federal St.
Boston
Boston, MA
37 story building
GWIM
Owned
Directly occupy 65% (818,019 sq. ft.)
of building while subleasing an
additional 35% (434,160 sq. ft.) of the space.
Hopewell Office
Park Campus
Hopewell,
NJ
8 building campus
GWIM
Owned
Directly occupy 100% (1,606,025 sq. ft.)
of campus.
Concord
Campus
Concord, CA
4 building campus
All Business
Segments
Owned
Directly occupy 100% (1,075,241 sq. ft.)
of campus.
Villa Park
Campus
Richmond,
VA
3 building campus
All Business
Segments
Leased
Directly occupy 84% (770,322 sq. ft.)
of campus.
*
All Business Segments consists of
Deposits, Global Card Services, Home Loans &
Insurance, Global Commercial Banking, GBAM
and
GWIM
.
(1)
Represents percentage ownership
interest in entity that owns the property.
Table of Contents
Item 3.
Legal
Proceedings
Item 4.
Removed
and Reserved
Table of Contents
Quarter
High
Low
first
$
14.33
$
3.14
second
14.17
7.05
third
17.98
11.84
fourth
18.59
14.58
first
18.04
14.45
second
19.48
14.37
third
15.67
12.32
fourth
13.56
10.95
Quarter
Dividend
first
$
0.01
second
0.01
third
0.01
fourth
0.01
first
0.01
second
0.01
third
0.01
fourth
0.01
Shares
Purchased as
Remaining Buyback
Part of Publicly
Authority
Common Shares
Weighted-Average
Announced
(Dollars in millions, except per
share information; shares in thousands)
Repurchased
(1)
Per Share Price
Programs
Amounts
Shares
252
$
13.32
5
$
12.96
101
$
12.28
358
$
13.02
(1)
Consists of shares acquired by the
Corporation in connection with satisfaction of tax withholding
obligations on vested restricted stock or restricted stock units
and certain forfeitures from terminations of employment related
to awards under equity incentive plans.
Item 6.
Selected
Financial Data
Managements Discussion and Analysis of Financial Condition
and Results of Operations
Page
24
28
29
33
36
38
39
40
41
44
45
48
50
51
56
59
62
63
67
71
72
83
94
96
97
100
100
103
106
106
106
107
113
113
114
115
132
abbreviations which are defined in the Glossary.
Table of Contents
Table of Contents
(Dollars in millions, except per
share information)
2010
2009
$
111,390
$
120,944
(2,238
)
6,276
10,162
6,276
(0.37
)
(0.29
)
0.86
(0.29
)
$
0.04
$
0.04
n/m
0.26
%
0.42
%
0.26
n/m
4.18
7.11
4.18
74.61
55.16
63.48
55.16
$
41,885
$
37,200
4.47
%
4.16
%
$
32,664
$
35,747
34,334
33,688
3.60
%
3.58
%
1.22
1.10
$
940,440
$
900,128
2,264,909
2,230,232
1,010,430
991,611
211,686
194,236
228,248
231,444
8.60
%
7.81
%
11.24
10.40
15.77
14.66
7.21
6.88
(1)
Fully taxable-equivalent (FTE)
basis, return on average tangible shareholders equity
(ROTE) and the efficiency ratio are non-GAAP measures. Other
companies may define or calculate these measures differently.
For additional information on these measures and ratios, see
Supplemental Financial Data beginning on page 36, and for a
corresponding reconciliation to GAAP financial measures, see
Table XIII.
(2)
Net income (loss), diluted earnings
(loss) per common share, return on average assets, ROTE and the
efficiency ratio have been calculated excluding the impact of
goodwill impairment charges of $12.4 billion in 2010 and
accordingly, these are non-GAAP measures. For additional
information on these measures and ratios, see Supplemental
Financial Data beginning on page 36, and for a
corresponding reconciliation to GAAP financial measures, see
Table XIII.
(3)
Balances and ratios do not include
loans accounted for under the fair value option. For additional
exclusions on nonperforming loans, leases and foreclosed
properties, see Nonperforming Consumer Loans and Foreclosed
Properties Activity beginning on page 81 and corresponding
Table 33, and Nonperforming Commercial Loans, Leases and
Foreclosed Properties Activity and corresponding Table 41 on
page 89.
(4)
Net charge-offs as a percentage of
average loans and leases outstanding excluding purchased
credit-impaired (PCI) loans were 3.73 percent and
3.71 percent for 2010 and 2009.
(5)
Ratio of the allowance for loan and
lease losses to net charge-offs excluding (PCI) loans was
1.04 percent and 1.00 percent for 2010 and 2009.
Table of Contents
Table of Contents
Total
Revenue
(1)
Net Income (Loss)
(Dollars in millions)
2010
2009
2010
2009
$
13,181
$
13,890
$
1,352
$
2,576
25,621
29,046
(6,603
)
(5,261
)
10,647
16,903
(8,921
)
(3,851
)
10,903
11,141
3,181
(290
)
28,498
32,623
6,319
10,058
16,671
16,137
1,347
1,716
5,869
1,204
1,087
1,328
111,390
120,944
(2,238
)
6,276
(1,170
)
(1,301
)
$
110,220
$
119,643
$
(2,238
)
$
6,276
(1)
Total revenue is net of interest
expense and is on a FTE basis which is a non-GAAP measure. For
more information on this measure, see Supplemental Financial
Data beginning on page 36, and for a corresponding
reconciliation to a GAAP financial measure, see Table XIII.
(2)
In 2010,
Global Card Services
and
All Other
are presented in accordance with new
consolidation guidance. Accordingly, current year
Global Card
Services
results are comparable to prior year results which
are presented on a managed basis. For more information on the
reconciliation of
Global Card Services
and
All
Other
, see
Note 26 Business Segment
Information
to the Consolidated Financial Statements.
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(Dollars in millions)
2010
2009
$
8,108
$
8,353
9,390
11,038
11,622
11,919
5,520
5,551
5,260
10,014
10,054
12,235
2,734
8,791
2,066
2,760
2,526
4,723
2,384
(14
)
(967
)
(2,836
)
$
58,697
$
72,534
Card income decreased $245 million due to the
implementation of the CARD Act partially offset by the impact of
the new consolidation guidance and higher interchange income.
Service charges decreased $1.6 billion largely due to the
impact of Regulation E, which became effective in the third
quarter of 2010 and the impact of our overdraft policy changes
implemented in late 2009.
Equity investment income decreased by $4.8 billion, as net
gains on the sales of certain strategic investments during 2010,
including Itaú Unibanco, MasterCard, Santander and a
portion of our investment in BlackRock, Inc. (BlackRock) were
less than gains in 2009 that included a $7.3 billion gain
related to the sale of a portion of our investment in CCB and
the $1.1 billion gain related to our BlackRock investment.
Trading account profits decreased $2.2 billion due to more
favorable market conditions in the prior year and investor
concerns regarding sovereign debt fears and regulatory
uncertainty. Net credit valuation gains on derivative
liabilities of $262 million for 2010 compared to losses of
$662 million for 2009.
Mortgage banking income decreased $6.1 billion due to an
increase of $4.9 billion in representations and warranties
provision and lower volume and margins.
Insurance income decreased $694 million due to a liability
recorded for future claims related to payment protection
insurance (PPI) sold in the U.K.
Gains on sales of debt securities decreased $2.2 billion
driven by a lower volume of sales of debt securities. The
decrease also included the impact of losses in 2010 related to
portfolio restructuring activities.
Other income (loss) improved by $2.4 billion. The prior
year included a net negative fair value adjustment of
$4.9 billion on structured liabilities compared to a net
positive adjustment of $18 million in 2010, and the prior
year
also included a $3.8 billion gain on the contribution of
our merchant processing business to a joint venture. Legacy
asset write-downs included in other income (loss) were
$1.7 billion in 2009 compared to net gains of
$256 million in 2010.
Impairment losses recognized in earnings on
available-for-sale
(AFS) debt securities decreased $1.9 billion reflecting
lower impairment write-downs on non-agency residential
mortgage-backed securities (RMBS) and collateralized debt
obligations (CDOs).
(Dollars in millions)
2010
2009
$
35,149
$
31,528
4,716
4,906
2,452
2,455
1,963
1,933
2,695
2,281
1,731
1,978
2,544
2,500
1,416
1,420
16,222
14,991
12,400
1,820
2,721
$
83,108
$
66,713
Table of Contents
December 31
Average Balance
(Dollars in millions)
2010
2009
2010
2009
$
209,616
$
189,933
$
256,943
$
235,764
194,671
182,206
213,745
217,048
338,054
311,441
323,946
271,048
940,440
900,128
958,331
948,805
(41,885
)
(37,200
)
(45,619
)
(33,315
)
624,013
683,724
732,256
803,718
$
2,264,909
$
2,230,232
$
2,439,602
$
2,443,068
$
1,010,430
$
991,611
$
988,586
$
980,966
245,359
255,185
353,653
369,863
71,985
65,432
91,669
72,207
59,962
69,524
76,676
118,781
448,431
438,521
490,497
446,634
200,494
178,515
205,290
209,972
2,036,661
1,998,788
2,206,371
2,198,423
228,248
231,444
233,231
244,645
$
2,264,909
$
2,230,232
$
2,439,602
$
2,443,068
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Table of Contents
(Dollars in millions, except per
share information)
2010
2009
2008
2007
2006
$
51,523
$
47,109
$
45,360
$
34,441
$
34,594
58,697
72,534
27,422
32,392
38,182
110,220
119,643
72,782
66,833
72,776
28,435
48,570
26,825
8,385
5,010
12,400
1,820
2,721
935
410
805
68,888
63,992
40,594
37,114
34,988
(1,323
)
4,360
4,428
20,924
31,973
915
(1,916
)
420
5,942
10,840
(2,238
)
6,276
4,008
14,982
21,133
(3,595
)
(2,204
)
2,556
14,800
21,111
9,790,472
7,728,570
4,592,085
4,423,579
4,526,637
9,790,472
7,728,570
4,596,428
4,463,213
4,580,558
n/m
0.26
%
0.22
%
0.94
%
1.44
%
n/m
n/m
1.80
11.08
16.27
n/m
n/m
4.72
26.19
38.23
n/m
4.18
5.19
25.13
37.80
10.08
%
10.38
9.74
8.56
9.27
9.56
10.01
8.94
8.53
8.90
n/m
n/m
n/m
72.26
45.66
$
(0.37
)
$
(0.29
)
$
0.54
$
3.32
$
4.63
(0.37
)
(0.29
)
0.54
3.29
4.58
0.04
0.04
2.24
2.40
2.12
20.99
21.48
27.77
32.09
29.70
12.98
11.94
10.11
12.71
13.26
$
13.34
$
15.06
$
14.08
$
41.26
$
53.39
19.48
18.59
45.03
54.05
54.90
10.95
3.14
11.25
41.10
43.09
$
134,536
$
130,273
$
70,645
$
183,107
$
238,021
$
958,331
$
948,805
$
910,871
$
776,154
$
652,417
2,439,602
2,443,068
1,843,985
1,602,073
1,466,681
988,586
980,966
831,157
717,182
672,995
490,497
446,634
231,235
169,855
130,124
212,681
182,288
141,638
133,555
129,773
233,231
244,645
164,831
136,662
130,463
$
43,073
$
38,687
$
23,492
$
12,106
$
9,413
32,664
35,747
18,212
5,948
1,856
4.47
%
4.16
%
2.49
%
1.33
%
1.28
%
leases
(5,
6)
136
111
141
207
505
116
99
136
n/a
n/a
$
34,334
$
33,688
$
16,231
$
6,480
$
4,539
3.60
%
3.58
%
1.79
%
0.84
%
0.70
%
3.27
3.75
1.77
0.64
0.25
3.48
3.98
1.96
0.68
0.26
1.22
1.10
1.42
1.79
1.99
8.60
%
7.81
%
4.80
%
4.93
%
6.82
%
11.24
10.40
9.15
6.87
8.64
15.77
14.66
13.00
11.02
11.88
7.21
6.88
6.44
5.04
6.36
6.75
6.40
5.11
3.73
4.47
5.99
5.56
2.93
3.46
4.27
(1)
Excludes merger and restructuring
charges and goodwill impairment charges.
(2)
Tangible equity ratios and tangible
book value per share of common stock are non-GAAP measures.
Other companies may define or calculate these measures
differently. For additional information on these ratios, see
Supplemental Financial Data beginning on page 36 and for
corresponding reconciliations to GAAP financial measures, see
Table XIII.
(3)
For more information on the impact
of the PCI loan portfolio on asset quality, see Consumer
Portfolio Credit Risk Management beginning on page 72 and
Commercial Portfolio Credit Risk Management beginning on
page 83.
(4)
Includes the allowance for loan and
lease losses and the reserve for unfunded lending commitments.
(5)
Balances and ratios do not include
loans accounted for under the fair value option. For additional
exclusions on nonperforming loans, leases and foreclosed
properties, see Nonperforming Consumer Loans and Foreclosed
Properties Activity beginning on page 81 and corresponding
Table 33 and Nonperforming Commercial Loans, Leases and
Foreclosed Properties Activity and corresponding Table 41 on
page 89.
(6)
Allowance for loan and lease losses
includes $22.9 billion, $17.7 billion,
$11.7 billion, $6.5 billion and $5.4 billion
allocated to products that are excluded from nonperforming
loans, leases and foreclosed properties at December 31,
2010, 2009, 2008, 2007 and 2006, respectively.
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Table of Contents
Table of Contents
Table of Contents
(Dollars in millions, except per
share information)
2010
2009
2008
2007
2006
$
52,693
$
48,410
$
46,554
$
36,190
$
35,818
111,390
120,944
73,976
68,582
74,000
2.78
%
2.65
%
2.98
%
2.60
%
2.82
%
74.61
55.16
56.14
54.71
48.37
$
0.87
0.86
63.48
%
0.42
4.14
7.03
7.11
(1)
Calculation includes fees earned on
overnight deposits placed with the Federal Reserve of
$368 million and $379 million for 2010 and 2009. The
Corporation did not have fees earned on overnight deposits
during 2008, 2007 and 2006.
(2)
Performance ratios are calculated
excluding the impact of goodwill impairment charges of
$12.4 billion recorded during 2010.
Table of Contents
(Dollars in millions)
2010
2009
$
52,693
$
48,410
(4,430
)
(6,117
)
48,263
42,293
n/a
10,524
48,263
52,817
1,897,573
1,830,193
(504,360
)
(481,376
)
1,393,213
1,348,817
n/a
83,640
1,393,213
1,432,457
2.78
%
2.65
%
0.68
0.49
3.46
3.14
n/a
0.55
3.46
%
3.69
%
(1)
FTE basis
(2)
Balance and calculation include
fees earned on overnight deposits placed with the Federal
Reserve of $368 million and $379 million for 2010 and
2009.
(3)
Represents the impact of
market-based amounts included in
GBAM
.
(4)
Represents the impact of
securitizations utilizing actual bond costs which is different
from the business segment view which utilizes funds transfer
pricing methodologies.
(5)
Represents average securitized
loans less accrued interest receivable and certain securitized
bonds retained.
Table of Contents
Table of Contents
(Dollars in millions)
2010
2009
% Change
$
8,128
$
7,089
15
%
5,058
6,796
(26
)
(5
)
5
n/m
5,053
6,801
(26
)
13,181
13,890
(5
)
201
343
(41
)
10,831
9,501
14
2,149
4,046
(47
)
797
1,470
(46
)
$
1,352
$
2,576
(48
)
1.99
%
1.75
%
5.58
10.92
21.70
46.00
82.17
68.40
Balance Sheet
$
409,359
$
405,104
1
%
435,994
431,564
1
411,001
406,823
1
24,204
23,594
3
$
403,926
$
417,713
(3
)%
432,334
444,612
(3
)
406,856
419,583
(3
)
24,273
24,186
(1)
FTE basis
Table of Contents
(Dollars in millions)
2010
2009
(1)
% Change
$
17,821
$
19,972
(11
)%
7,658
8,553
(10
)
142
521
(73
)
7,800
9,074
(14
)
25,621
29,046
(12
)
12,648
29,553
(57
)
10,400
n/m
6,953
7,726
(10
)
(4,380
)
(8,233
)
47
2,223
(2,972
)
175
$
(6,603
)
$
(5,261
)
(26
)
10.10
%
9.43
%
22.50
n/m
67.73
26.60
27.14
26.60
$
176,232
$
211,981
(17
)%
176,525
211,737
(17
)
181,766
228,438
(20
)
36,567
41,031
(11
)
$
167,367
$
196,289
(15
)%
168,224
196,046
(14
)
169,762
212,668
(20
)
27,490
42,842
(36
)
(1)
Prior year amounts are presented on
a managed basis for comparative purposes. For information on
managed basis, refer to
Note 26 Business
Segment Information
to the Consolidated Financial Statements
beginning on page 233.
(2)
FTE basis
Table of Contents
(Dollars in millions)
2010
2009
% Change
$
4,690
$
4,975
(6
)%
3,079
9,321
(67
)
2,257
2,346
(4
)
621
261
138
5,957
11,928
(50
)
10,647
16,903
(37
)
8,490
11,244
(24
)
2,000
n/m
13,163
11,705
12
(13,006
)
(6,046
)
(115
)
(4,085
)
(2,195
)
(86
)
$
(8,921
)
$
(3,851
)
(132
)
2.52
%
2.58
%
142.42
69.25
123.63
69.25
Balance Sheet
$
129,236
$
130,519
(1
)%
186,455
193,152
(3
)
226,352
230,123
(2
)
26,170
20,530
27
$
122,935
$
131,302
(6
)%
173,033
188,349
(8
)
213,455
232,588
(8
)
23,542
27,148
(13
)
(1)
FTE basis
Table of Contents
(Dollars in millions)
2010
2009
$
6,098
$
7,352
(6,786
)
(1,851
)
(688
)
5,501
6,475
6,219
(3,760
)
(4,491
)
376
1,539
676
553
3,767
3,820
3,079
9,321
(345
)
(530
)
$
2,734
$
8,791
(1)
Represents the change in the market
value of the MSR asset due to the impact of customer payments
received during the year.
(2)
Includes sale of MSRs.
(3)
Includes the effect of transfers of
mortgage loans from
Home Loans & Insurance
to
the ALM portfolio in
All Other
.
Table of Contents
(Dollars in millions, except as
noted)
2010
2009
$
287,236
$
354,506
7,626
10,488
298,038
378,105
8,437
13,214
$
2,057
$
2,151
1,628
1,716
14,900
19,465
92
bps
113
bps
(1)
In addition to loan production in
Home Loans & Insurance
, the remaining first
mortgage and home equity loan production is primarily in
GWIM.
(2)
Servicing of residential mortgage
loans, home equity lines of credit, home equity loans and
discontinued real estate mortgage loans.
Table of Contents
(Dollars in millions)
2010
2009
% Change
$
8,086
$
8,054
%
2,105
2,078
1
712
1,009
(29
)
2,817
3,087
(9
)
10,903
11,141
(2
)
1,971
7,768
(75
)
3,874
3,833
1
5,058
(460
)
n/m
1,877
(170
)
n/m
$
3,181
$
(290
)
n/m
2.94
%
3.19
%
15.20
n/m
7.64
n/m
35.52
34.40
$
203,339
$
229,102
(11
)%
275,356
252,309
9
306,302
283,936
8
148,565
129,832
14
41,624
41,931
(1
)
$
193,573
$
215,237
(10
)%
277,551
264,855
5
310,131
295,947
5
161,260
147,023
10
40,607
42,975
(6
)
(1)
FTE basis
Table of Contents
(Dollars in millions)
2010
2009
% Change
$
7,989
$
9,553
(16
)%
2,126
2,044
4
2,441
2,662
(8
)
5,408
5,927
(9
)
9,689
11,803
(18
)
845
634
33
20,509
23,070
(11
)
28,498
32,623
(13
)
(155
)
1,998
(108
)
18,038
15,921
13
10,615
14,704
(28
)
4,296
4,646
(8
)
$
6,319
$
10,058
(37
)
12.01
%
20.32
%
15.05
25.82
63.30
48.80
$
499,433
$
508,163
(2
)%
98,604
110,811
(11
)
504,360
481,376
5
598,613
588,252
2
758,958
778,870
(3
)
109,792
104,868
5
52,604
49,502
6
$
413,563
$
410,755
1
%
100,010
95,930
4
416,174
404,315
3
509,269
498,765
2
655,535
649,876
1
111,447
102,093
9
49,054
53,260
(8
)
(1)
FTE basis
Table of Contents
(Dollars in millions)
2010
2009
$
13,158
$
12,723
4,145
4,902
$
17,303
$
17,625
(1)
Includes $274 million and
$353 million of net interest income on a FTE basis for 2010
and 2009.
(2)
Includes $2.4 billion and
$2.6 billion of investment and brokerage services revenue
for 2010 and 2009.
(Dollars in millions)
2010
2009
$
1,019
$
1,167
3,267
3,124
1,499
1,964
5,785
6,255
(265
)
(704
)
$
5,520
$
5,551
(1)
Advisory includes fees on debt and
equity advisory services and mergers and acquisitions.
(2)
Represents the offset to fees paid
on the Corporations transactions.
Table of Contents
December 31, 2010
Retained
Total
(Dollars in millions)
Subprime
(1)
Positions
Subprime
Non-Subprime
(2)
Total
$
721
$
156
$
877
$
338
$
1,215
583
583
189
772
$
1,304
$
156
$
1,460
$
527
$
1,987
(1)
Classified as subprime when
subprime consumer real estate loans make up at least
35 percent of the original net exposure value of the
underlying collateral.
(2)
Includes highly-rated
collateralized loan obligations and CMBS super senior exposure.
(3)
Hedged amounts are presented at
carrying value before consideration of the insurance.
December 31, 2010
December 31, 2009
Other
Other
Super Senior
Guaranteed
Super Senior
Guaranteed
(Dollars in millions)
CDOs
Positions
Total
CDOs
Positions
Total
$
3,241
$
35,183
$
38,424
$
3,757
$
38,834
$
42,591
$
2,834
$
6,367
$
9,201
$
2,833
$
8,256
$
11,089
(2,168
)
(3,107
)
(5,275
)
(1,873
)
(4,132
)
(6,005
)
$
666
$
3,260
$
3,926
$
960
$
4,124
$
5,084
77
%
49
%
57
%
66
%
50
%
54
%
$
(386
)
$
362
$
(24
)
$
(961
)
$
98
$
(863
)
Table of Contents
(Dollars in millions)
2010
2009
% Change
$
5,831
$
5,988
(3
)%
8,832
8,425
5
2,008
1,724
16
10,840
10,149
7
16,671
16,137
3
646
1,061
(39
)
13,598
12,397
10
2,427
2,679
(9
)
1,080
963
12
$
1,347
$
1,716
(22
)
2.37
%
2.64
%
18.40
27.63
7.44
10.35
81.57
76.82
$
99,491
$
103,384
(4
)%
245,812
226,856
8
266,638
249,887
7
236,350
225,979
5
18,098
16,582
9
$
101,020
$
99,571
1
%
275,598
227,796
21
297,301
250,963
18
266,444
224,839
19
18,349
17,730
3
(1)
FTE basis
Table of Contents
(Dollars in millions)
2010
2009
$
3,086
$
(30,638
)
(1,405
)
(12,033
)
$
7,232
$
(42,521
)
(1,625
)
(17,241
)
December 31
(Dollars in millions)
2010
2009
$
643,955
$
749,851
1,480,231
1,402,977
126,203
144,012
266,444
224,839
101,020
99,571
(379,310
)
(348,738
)
$
2,238,543
$
2,272,512
(1)
Client brokerage assets include
non-discretionary brokerage and fee-based assets.
(2)
2009 balance includes the Columbia
Management long-term asset management business representing
$114.6 billion, net of eliminations, which was sold on
May 1, 2010.
Table of Contents
(Dollars in millions)
2010
2009
(2)
% Change
$
148
$
2,029
(93
)%
2
1,138
(100
)
4,532
10,589
(57
)
2,314
4,437
(48
)
(1,127
)
(5,590
)
80
5,721
10,574
(46
)
5,869
12,603
(53
)
4,634
8,002
(42
)
1,820
2,721
(33
)
2,431
2,909
(16
)
(3,016
)
(1,029
)
(193
)
(4,103
)
(2,357
)
(74
)
$
1,087
$
1,328
(18
)
$
250,956
$
260,755
(4
)%
263,592
338,703
(22
)
55,769
88,736
(37
)
33,964
51,475
(34
)
$
255,155
$
250,868
2
%
186,391
233,293
(20
)
38,162
65,434
(42
)
44,933
23,303
92
(1)
FTE basis
(2)
2009 is presented on an as adjusted
basis for comparative purposes, which excludes the
securitization offset. For more information on
All Other,
including the securitization offset, see
Note 26 Business Segment Information
to
the Consolidated Financial Statements.
(3)
Includes elimination of
segments excess asset allocations to match liabilities
(i.e., deposits) of $621.3 billion and $537.1 billion
for 2010 and 2009, and $645.8 billion and
$586.0 billion at December 31, 2010 and 2009.
December 31
(Dollars in millions)
2010
2009
$
$
2,731
11,656
14,071
22,545
27,838
$
34,201
$
44,640
(Dollars in millions)
2010
2009
$
(293
)
$
(88
)
2,304
1,222
2,521
9,455
4,532
10,589
728
(575
)
$
5,260
$
10,014
Table of Contents
December 31, 2010
Due after
Due after
Due in
1 Year through
3 Years through
Due after
(Dollars in millions)
1 Year or Less
3 Years
5 Years
5 Years
Total
$
89,251
$
138,603
$
69,539
$
151,038
$
448,431
3,016
4,716
2,894
6,624
17,250
5,257
2,490
1,603
1,077
10,427
181,280
17,548
4,752
4,178
207,758
696
1,047
770
1,150
3,663
$
279,500
$
164,404
$
79,558
$
164,067
$
687,529
Table of Contents
Table of Contents
(1)
Exposure at default (EAD)
represents the unpaid principal balance at the time of default
or the unpaid principal balance as of December 31, 2010.
Table of Contents
Legacy Orginator
Percent of
(Dollars in billions)
Countrywide
Other
Total
Total
$
846
$
272
$
1,118
(406
)
(133
)
(539
)
(31
)
(3
)
(34
)
$
409
$
136
$
545
$
59
$
14
$
73
90
17
107
$
16
15
%
32
30
33
31
26
24
$
107
100
%
$
3.3
2.8
$
6.3
Table of Contents
Principal Balance
Principal at Risk
Outstanding
Outstanding
Borrower
Borrower
Borrower
Original
Principal
Principal Balance
Defaulted
Made
Made
Made
(Dollars in billions)
Principal
Balance
180 Days or More
Principal
Principal at
Borrower Made
13 to 24
25 to 36
> 36
By Entity
Balance
12/31/2010
Past Due
Balance
Risk
< 13 Payments
Payments
Payments
Payments
$
100
$
34
$
4
$
3
$
7
$
1
$
2
$
2
$
2
716
293
86
80
166
24
46
49
47
65
22
7
10
17
3
4
3
7
82
23
7
19
26
4
6
4
12
$
963
$
372
$
104
$
112
$
216
$
32
$
58
$
58
$
68
$
302
$
124
$
16
$
11
$
27
$
2
$
6
$
8
$
11
172
82
22
21
43
7
12
12
12
150
65
30
20
50
5
15
16
14
245
82
36
43
79
16
19
17
27
88
18
16
16
2
5
5
4
6
1
1
1
1
$
963
$
372
$
104
$
112
$
216
$
32
$
58
$
58
$
68
(1)
Includes $186 billion of
original principal balance related to transactions with monoline
participation.
(2)
Excludes transactions sponsored by
Bank of America and Merrill Lynch where no representations or
warranties were assumed.
(3)
Includes exposures on third-party
sponsored transactions related to legacy entity originations.
Representation of material compliance with underwriting
guidelines (which often explicitly permit exceptions).
Few transactions contain a representation that there has been no
fraud or material misrepresentation by a borrower or third party.
Many representations include materiality qualifiers.
Breach of representation must materially and adversely affect
certificate holders interest in the loan.
No representation that the mortgage is of investment quality.
Offering documents included extensive disclosures, including
detailed risk factors, description of underwriting practices and
guidelines, and loan attributes.
Only parties to a pooling and servicing agreement (e.g., the
trustee) can bring repurchase claims. Certificate holders cannot
bring claims directly and do not have access to loan files. At
least 25 percent of each tranche of certificate holders is
generally required in order to direct a trustee to review
loan files for potential claims. In addition, certificate
holders must bear costs of a trustees loan file review.
Repurchase liability is generally limited to the seller.
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
December 31
(Dollars in billions)
2010
2009
8.60
%
7.81
%
11.24
10.40
15.77
14.66
7.21
6.88
$
1,456
$
1,543
2,270
2,332
(1)
Reflects adjusted average total
assets for the three months ended December 31, 2010 and
2009.
December 31
(Dollars in millions)
2010
2009
$
211,686
$
194,236
(73,861
)
(86,314
)
(6,846
)
(8,299
)
(4,137
)
1,034
3,947
4,092
2,984
2,981
19,290
(8,663
)
(7,080
)
29
454
125,139
120,394
16,562
17,964
21,451
21,448
474
582
163,626
160,388
41,270
43,284
41,885
37,200
1,188
1,487
(24,690
)
(18,721
)
4,777
1,525
1,538
907
$
229,594
$
226,070
(1)
Represents loss on structured
notes,
net-of-tax,
that is excluded from Tier 1 common capital, Tier 1
capital and Total capital for regulatory purposes.
Table of Contents
December 31
2010
2009
(Dollars in millions)
Ratio
Amount
Ratio
Amount
10.78
%
$
114,345
10.30
%
$
111,916
15.30
25,589
15.21
28,831
14.26
151,255
13.76
149,528
16.94
28,343
17.01
32,244
7.83
114,345
7.38
111,916
13.21
25,589
23.09
28,831
Table of Contents
Table of Contents
Dividend
Declaration Date
Record Date
Payment Date
Per Share
March 4, 2011
March 25, 2011
$
0.01
December 3, 2010
December 24, 2010
0.01
September 3, 2010
September 24, 2010
0.01
June 4, 2010
June 25, 2010
0.01
March 5, 2010
March 26, 2010
0.01
Table of Contents
December 31
(Dollars in billions)
2010
2009
$
121
$
99
180
89
35
26
$
336
$
214
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
302,487
$
281,692
87,482
99,917
19,901
19,903
16,505
16,460
6,924
7,973
6,628
4,894
3,069
2,666
5,435
5,016
$
448,431
$
438,521
Table of Contents
Table of Contents
Table of Contents
Countrywide Purchased
Credit-impaired Loan
Portfolio
Outstandings
December 31
December 31
January 1
December 31
(Dollars in millions)
2010
(1)
2010
(1)
2009
2010
(1)
2009
$
257,973
$
242,129
$
242,129
$
10,592
$
11,077
137,981
154,202
149,126
12,590
13,214
13,108
14,854
14,854
11,652
13,250
113,785
129,642
49,453
n/a
n/a
27,465
31,182
21,656
n/a
n/a
90,308
99,812
97,236
n/a
n/a
2,830
3,110
3,110
n/a
n/a
$
643,450
$
674,931
$
577,564
$
34,834
$
37,541
(1)
Balances reflect the impact of new
consolidation guidance. Adoption of the new consolidation
guidance did not impact the Countrywide PCI loan portfolio.
(2)
Outstandings include
non-U.S.
residential mortgages of $90 million and $552 million
at December 31, 2010 and 2009.
(3)
Outstandings include
$11.8 billion and $13.4 billion of pay option loans
and $1.3 billion and $1.5 billion of subprime loans at
December 31, 2010 and 2009. We no longer originate these
products.
(4)
Outstandings include dealer
financial services loans of $42.9 billion and
$41.6 billion, consumer lending loans of $12.9 billion
and $19.7 billion, U.S. securities-based lending margin
loans of $16.6 billion and $12.9 billion, student
loans of $6.8 billion and $10.8 billion,
non-U.S.
consumer loans of $8.0 billion and $8.0 billion and
other consumer loans of $3.1 billion and $4.2 billion
at December 31, 2010 and 2009, respectively.
(5)
Outstandings include consumer
finance loans of $1.9 billion and $2.3 billion, other
non-U.S.
consumer loans of $803 million and $709 million and
consumer overdrafts of $88 million and $144 million at
December 31, 2010 and 2009.
Table of Contents
Accruing Past Due 90 Days or More
Nonperforming
December 31
January 1
December 31
December 31
January 1
December 31
(Dollars in millions)
2010
(1)
2010
(1)
2009
2010
(1)
2010
(1)
2009
$
16,768
$
11,680
$
11,680
$
17,691
$
16,596
$
16,596
2,694
4,252
3,804
331
249
249
3,320
5,408
2,158
n/a
n/a
n/a
599
814
515
n/a
n/a
n/a
1,058
1,492
1,488
90
86
86
2
3
3
48
104
104
$
21,747
$
19,397
$
15,844
$
20,854
$
21,287
$
20,839
(1)
Balances reflect the impact of new
consolidation guidance.
(2)
Our policy is to classify consumer
real estate-secured loans as nonperforming at 90 days past
due, except Countrywide PCI loans and FHA loans as referenced in
footnote (3).
(3)
At December 31, 2010 and 2009,
balances accruing past due 90 days or more represent loans
insured by the FHA. These balances include $8.3 billion and
$2.2 billion of loans that are no longer accruing interest
or interest has been curtailed by the FHA although principal is
still insured and $8.5 billion and $9.5 billion of
loans that were still accruing interest. Our policy is to
classify delinquent consumer loans secured by real estate and
insured by the FHA as accruing past due 90 days or more.
Net Charge-offs
Net Charge-offs
(1, 2)
(Dollars in millions)
2010
2009
2010
2009
$
3,670
$
4,350
1.49
%
1.74
%
6,781
7,050
4.65
4.56
68
101
0.49
0.58
13,027
6,547
11.04
12.50
2,207
1,239
7.88
6.30
3,336
5,463
3.45
5.46
261
428
8.89
12.94
$
29,350
$
25,178
4.51
4.22
Net Losses
Net Losses
(1)
n/a
$
16,962
n/a
12.07
n/a
2,223
n/a
7.43
n/a
$
19,185
n/a
11.25
(1)
Net charge-off and net loss ratios
are calculated as held net charge-offs or managed net losses
divided by average outstanding held or managed loans and leases.
(2)
Net charge-off ratios excluding the
Countrywide PCI and FHA insured loan portfolio were
1.79 percent and 1.83 percent for residential
mortgage, 5.10 percent and 5.00 percent for home
equity, 4.20 percent and 5.57 percent for discontinued
real estate and 5.02 percent and 4.53 percent for the
total held portfolio for 2010 and 2009. These are the only
product classifications materially impacted by the Countrywide
PCI loan portfolio for 2010 and 2009. For all loan and lease
categories, the net charge-offs were unchanged.
Table of Contents
December 31
Excluding Countrywide Purchased Credit-impaired
and
Reported Basis
FHA Insured Loans
(Dollars in millions)
2010
2009
2010
2009
$
257,973
$
242,129
$
193,435
$
218,147
16,768
11,680
n/a
n/a
17,691
16,596
17,691
16,596
15
%
12
%
10
%
11
%
32
27
23
23
20
17
14
12
32
42
38
42
1.49
1.74
1.79
1.83
Table of Contents
December 31
Year Ended December 31
Outstandings
Nonperforming
Net Charge-offs
(Dollars in millions)
2010
2009
2010
2009
2010
2009
$
68,341
$
81,508
$
6,389
$
5,967
$
1,392
$
1,726
13,616
15,088
2,054
1,912
604
796
12,545
15,752
772
632
44
66
9,077
9,865
492
534
52
59
6,960
7,496
450
450
72
89
82,896
88,438
7,534
7,101
1,506
1,614
$
193,435
$
218,147
$
17,691
$
16,596
$
3,670
$
4,350
53,946
12,905
10,592
11,077
$
257,973
$
242,129
(1)
Amount excludes the Countrywide PCI
residential mortgage and FHA insured loan portfolios.
Table of Contents
December 31
Excluding Countrywide Purchased Credit-
Reported Basis
impaired Loans
(Dollars in millions)
2010
2009
2010
2009
$
137,981
$
149,126
$
125,391
$
135,912
2,694
3,804
2,694
3,804
11
%
12
%
11
%
12
%
34
35
30
31
14
13
12
13
50
52
47
49
4.65
4.56
5.10
5.00
Table of Contents
Year Ended
December 31
December 31
Outstandings
Nonperforming
Net Charge-offs
(Dollars in millions)
2010
2009
2010
2009
2010
2009
$
35,426
$
38,573
$
708
$
1,178
$
2,341
$
2,669
15,028
16,735
482
731
1,420
1,583
8,153
8,732
169
192
219
225
8,061
8,752
246
274
273
262
5,657
6,155
71
90
102
93
53,066
56,965
1,018
1,339
2,426
2,218
$
125,391
$
135,912
$
2,694
$
3,804
$
6,781
$
7,050
12,590
13,214
$
137,981
$
149,126
(1)
Amount excludes the Countrywide PCI
home equity loan portfolio.
Table of Contents
December 31, 2010
Unpaid
Carrying
% of
Principal
Carrying
Related
Value Net of
Unpaid Principal
(Dollars in millions)
Balance
Value
Allowance
Allowance
Balance
$
11,481
$
10,592
$
229
$
10,363
90.26
%
15,072
12,590
4,514
8,076
53.58
14,893
11,652
1,591
10,061
67.56
$
41,446
$
34,834
$
6,334
$
28,500
68.76
%
December 31
(Dollars in millions)
2010
2009
$
5,882
$
6,142
779
843
579
617
271
278
164
166
2,917
3,031
$
10,592
$
11,077
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
4,178
$
4,311
750
765
532
550
520
542
375
416
6,235
6,630
$
12,590
$
13,214
December 31
(Dollars in millions)
2010
2009
$
6,322
$
7,148
1,121
1,315
368
421
344
399
339
430
3,158
3,537
$
11,652
$
13,250
December 31
January 1
December 31
(Dollars in millions)
2010
(1)
2010
(1)
2009
$
113,785
$
129,642
$
49,453
5,913
9,866
3,907
3,320
5,408
2,158
2010
2009
$
13,027
$
6,547
11.04
%
12.50
%
n/a
$
16,962
n/a
12.07
%
(1)
Balances reflect the impact of new
consolidation guidance.
Table of Contents
December 31
Year Ended December 31
Outstandings
Accruing Past Due 90 Days or More
Net Charge-offs
(Dollars in millions)
2010
2009
2010
2009
2010
2009
$
17,028
$
20,048
$
612
$
1,097
$
2,752
$
3,558
9,121
10,858
376
676
1,611
2,178
7,581
8,653
207
345
784
960
6,862
7,839
192
295
694
855
4,579
5,168
132
189
452
559
68,614
77,076
1,801
2,806
6,734
8,852
$
113,785
$
129,642
$
3,320
$
5,408
$
13,027
$
16,962
December 31
January 1
December 31
(Dollars in millions)
2010
(1)
2010
(1)
2009
$
27,465
$
31,182
$
21,656
1,354
1,744
1,104
599
814
515
2010
2009
$
2,207
$
1,239
7.88
%
6.30
%
n/a
$
2,223
n/a
7.43
%
(1)
Balances reflect the impact of new
consolidation guidance.
Table of Contents
December 31
Year Ended December 31
Outstandings
Accruing Past Due 90 Days or More
Net Charge-offs
(Dollars in millions)
2010
2009
2010
2009
2010
2009
$
10,558
$
11,664
$
132
$
228
$
591
$
1,055
7,885
8,743
78
105
262
382
6,725
7,559
80
130
343
597
4,770
5,111
56
73
183
272
2,814
3,165
44
52
126
205
57,556
60,994
668
900
1,831
2,952
$
90,308
$
97,236
$
1,058
$
1,488
$
3,336
$
5,463
Table of Contents
(Dollars in millions)
2010
2009
$
20,839
$
9,888
448
n/a
21,136
29,271
(2,809
)
(1,459
)
(7,647
)
(4,540
)
(9,772
)
(10,702
)
(1,341
)
(1,619
)
15
10,951
20,854
20,839
1,428
1,506
2,337
1,976
(2,327
)
(1,687
)
(189
)
(367
)
(179
)
(78
)
1,249
1,428
$
22,103
$
22,267
3.24
%
3.61
%
3.43
3.85
(1)
Balances do not include
nonperforming LHFS of $1.0 billion and $1.6 billion at
December 31, 2010 and 2009. For more information on our
definition of nonperforming loans, see the discussion beginning
on page 81.
(2)
2009 includes $465 million of
nonperforming loans acquired from Merrill Lynch.
(3)
Consumer loans may be returned to
performing status when all principal and interest is current and
full repayment of the remaining contractual principal and
interest is expected, or when the loan otherwise becomes
well-secured and is in the process of collection. Certain TDRs
are classified as nonperforming at the time of restructure and
may only be returned to performing status after considering the
borrowers sustained repayment performance for a reasonable
period, generally six months.
(4)
Our policy is not to classify
consumer credit card and consumer loans not secured by real
estate as nonperforming; therefore, the charge-offs on these
loans have no impact on nonperforming activity and accordingly
are excluded from this table.
(5)
At December 31, 2010,
67 percent of nonperforming loans are 180 days or more
past due and have been written down through charge-offs to
69 percent of the unpaid principal balance.
(6)
Our policy is to record any losses
in the value of foreclosed properties as a reduction in the
allowance for loan and lease losses during the first
90 days after transfer of a loan into foreclosed
properties. Thereafter, all gains and losses in value are
recorded in noninterest expense. New foreclosed properties in
the table above are net of $575 million and
$818 million of charge-offs during 2010 and 2009, taken
during the first 90 days after transfer.
(7)
2009 includes $21 million of
foreclosed properties acquired from Merrill Lynch.
Table of Contents
Accruing Past Due
Outstandings
Nonperforming
90 Days or More
December 31
January 1
December 31
December 31
December 31
December 31
December 31
(Dollars in millions)
2010
(1)
2010
(1)
2009
2010
2009
2010
2009
$
175,586
$
186,675
$
181,377
$
3,453
$
4,925
$
236
$
213
49,393
69,377
69,447
5,829
7,286
47
80
21,942
22,199
22,199
117
115
18
32
32,029
27,079
27,079
233
177
6
67
278,950
305,330
300,102
9,632
12,503
307
392
14,719
17,526
17,526
204
200
325
624
293,669
322,856
317,628
9,836
12,703
632
1,016
3,321
4,936
4,936
30
138
87
$
296,990
$
327,792
$
322,564
$
9,866
$
12,841
$
632
$
1,103
(1)
Balance reflects impact of new
consolidation guidance.
(2)
Excludes U.S. small business
commercial loans.
(3)
Includes U.S. commercial real
estate loans of $46.9 billion and $66.5 billion and
non-U.S.
commercial real estate loans of $2.5 billion and
$3.0 billion at December 31, 2010 and 2009.
(4)
Includes card-related products.
(5)
Commercial loans accounted for
under the fair value option include U.S. commercial loans of
$1.6 billion and $3.0 billion,
non-U.S.
commercial loans of $1.7 billion and $1.9 billion and
commercial real estate loans of $79 million and
$90 million at December 31, 2010 and 2009. See
Note 23 Fair Value Option
to the
Consolidated Financial Statements for additional information on
the fair value option.
Table of Contents
Net Charge-offs
Net Charge-off Ratios
(1)
(Dollars in millions)
2010
2009
2010
2009
$
881
$
2,190
0.50
%
1.09
%
2,017
2,702
3.37
3.69
57
195
0.27
0.89
111
537
0.39
1.76
3,066
5,624
1.07
1.72
1,918
2,886
12.00
15.68
$
4,984
$
8,510
1.64
2.47
(1)
Net charge-off ratios are
calculated as net charge-offs divided by average outstanding
loans and leases excluding loans accounted for under the fair
value option.
(2)
Excludes U.S. small business
commercial loans.
December 31
Commercial
Utilized
(1)
Commercial Unfunded
(2, 3)
Total Commercial Committed
(Dollars in millions)
2010
2009
2010
2009
2010
2009
$
296,990
$
322,564
$
272,172
$
298,048
$
569,162
$
620,612
73,000
87,622
73,000
87,622
62,027
67,975
1,511
1,767
63,538
69,742
10,216
11,754
4,546
1,508
14,762
13,262
10,380
8,169
242
781
10,622
8,950
3,372
2,958
1,179
569
4,551
3,527
3,706
3,658
23
16
3,729
3,674
731
797
731
797
$
460,422
$
505,497
$
279,673
$
302,689
$
740,095
$
808,186
(1)
Total commercial utilized exposure
at December 31, 2010 and 2009 includes loans and issued
letters of credit accounted for under the fair value option
including loans outstanding of $3.3 billion and
$4.9 billion and letters of credit with a notional value of
$1.4 billion and $1.7 billion.
(2)
Total commercial unfunded exposure
at December 31, 2010 and 2009 includes loan commitments
accounted for under the fair value option with a notional value
of $25.9 billion and $25.3 billion.
(3)
Excludes unused business card lines
which are not legally binding.
(4)
Derivative assets are carried at
fair value, reflect the effects of legally enforceable master
netting agreements and have been reduced by cash collateral of
$58.3 billion and $51.5 billion at December 31,
2010 and 2009. Not reflected in utilized and committed exposure
is additional derivative collateral held of $17.7 billion
and $16.2 billion which consists primarily of other
marketable securities.
(5)
Total commercial committed exposure
consists of $14.2 billion and $9.8 billion of debt
securities and $590 million and $3.5 billion of other
investments at December 31, 2010 and 2009.
Table of Contents
December 31
2010
2009
(Dollars in millions)
Amount
Percent
(1)
Amount
Percent
(1)
$
17,195
7.44
%
$
28,259
11.77
%
20,518
38.88
23,804
32.13
1,188
5.41
2,229
10.04
2,043
5.01
2,605
7.12
40,944
11.81
56,897
15.26
1,677
11.37
1,789
10.18
$
42,621
11.80
$
58,686
15.03
(1)
Percentages are calculated as
commercial utilized reservable criticized exposure divided by
total commercial utilized reservable exposure for each exposure
category.
(2)
Excludes U.S. small business
commercial exposure.
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
9,012
$
14,554
7,639
12,089
6,169
8,641
5,806
7,019
5,301
6,662
3,649
4,589
2,811
4,527
2,627
3,459
2,243
3,097
2,515
2,994
1,701
1,906
$
49,473
$
69,537
$
9,688
$
12,511
7,721
11,169
7,484
9,519
5,039
5,852
4,299
7,250
4,266
5,924
2,650
6,946
2,376
3,215
5,950
7,151
$
49,473
$
69,537
(1)
Distribution is based on geographic
location of collateral.
(2)
Includes unsecured outstandings to
real estate investment trusts and national home builders whose
portfolios of properties span multiple geographic regions and
properties in the states of Colorado, Utah, Hawaii, Wyoming and
Montana.
(3)
Includes commercial real estate
loans accounted for under the fair value option of
$79 million and $90 million at December 31, 2010
and 2009.
(4)
Homebuilder includes condominiums
and residential land.
(5)
Represents loans to borrowers whose
primary business is commercial real estate, but the exposure is
not secured by the listed property types or is unsecured.
Table of Contents
December 31
Nonperforming
Loans and
Foreclosed
Utilized Reservable
Properties
(1)
Criticized Exposure
(2)
(Dollars in millions)
2010
2009
2010
2009
$
1,061
$
729
$
3,956
$
3,822
500
546
2,940
2,496
1,000
1,157
2,837
3,469
420
442
1,878
1,757
483
416
1,316
1,578
139
160
1,191
1,140
820
968
1,420
1,657
168
417
1,604
2,210
4,591
4,835
17,142
18,129
1,963
3,228
3,376
5,675
$
6,554
$
8,063
$
20,518
$
23,804
(1)
Includes commercial foreclosed
properties of $725 million and $777 million at
December 31, 2010 and 2009.
(2)
Utilized reservable criticized
exposure corresponds to the Special Mention, Substandard and
Doubtful asset categories defined by regulatory authorities.
This includes loans, excluding those accounted for under the
fair value option, SBLCs and bankers acceptances.
(3)
Represents loans to borrowers whose
primary business is commercial real estate, but the exposure is
not secured by the listed property types or is unsecured.
Net Charge-offs
Net Charge-off Ratios
(1)
(Dollars in millions)
2010
2009
2010
2009
$
273
$
249
2.49
%
2.01
%
116
217
1.21
1.96
318
239
3.56
2.30
59
82
1.07
1.34
143
146
2.92
2.58
45
5
1.02
0.08
377
286
13.04
8.00
220
140
3.14
1.72
1,551
1,364
2.86
2.13
466
1,338
8.26
14.41
$
2,017
$
2,702
3.37
3.69
(1)
Net charge-off ratios are
calculated as net charge-offs divided by average outstanding
loans excluding loans accounted for under the fair value option.
(2)
Represents loans to borrowers whose
primary business is commercial real estate, but the exposure is
not secured by the listed property types or is unsecured.
Table of Contents
Table of Contents
(Dollars in millions)
2010
2009
$
12,703
$
6,497
402
7,809
16,190
330
339
(3,938
)
(3,075
)
(841
)
(630
)
(1,607
)
(461
)
(3,221
)
(5,626
)
(1,045
)
(857
)
(354
)
(76
)
(2,867
)
6,206
9,836
12,703
777
321
818
857
(780
)
(310
)
(90
)
(91
)
(52
)
456
725
777
$
10,561
$
13,480
3.35
%
4.00
%
leases and foreclosed
properties
(5)
3.59
4.23
(1)
Balances do not include
nonperforming LHFS of $1.5 billion and $4.5 billion at
December 31, 2010 and 2009.
(2)
Includes U.S. small business
commercial activity.
(3)
Commercial loans and leases may be
restored to performing status when all principal and interest is
current and full repayment of the remaining contractual
principal and interest is expected or when the loan otherwise
becomes well-secured and is in the process of collection. TDRs
are generally classified as performing after a sustained period
of demonstrated payment performance.
(4)
Business card loans are not
classified as nonperforming; therefore, the charge-offs on these
loans have no impact on nonperforming activity and accordingly
are excluded from this table.
(5)
Outstanding commercial loans and
leases exclude loans accounted for under the fair value option.
Table of Contents
Table of Contents
December 31
Commercial Utilized
Total Commercial Committed
(Dollars in millions)
2010
2009
2010
2009
$
55,196
$
69,259
$
83,248
$
109,079
58,531
75,049
72,004
93,147
44,131
44,151
59,594
61,998
30,420
29,584
47,569
46,870
21,940
23,911
46,087
48,184
24,660
23,671
43,950
42,414
24,759
28,704
39,694
44,214
15,873
16,373
33,046
33,233
20,056
23,892
30,517
34,646
26,831
20,299
29,667
23,384
14,777
14,812
28,126
28,079
9,765
9,605
26,328
23,619
17,263
20,613
24,417
28,033
6,990
9,217
24,207
25,316
18,278
25,941
22,899
34,698
11,611
14,020
20,619
22,886
12,070
13,724
18,436
20,101
3,859
2,875
11,009
10,626
4,373
3,416
10,932
10,516
8,409
8,920
10,823
11,374
3,837
3,216
9,531
9,359
3,823
3,558
9,321
9,478
4,297
4,409
8,836
9,998
3,222
3,680
6,161
6,562
2,090
2,379
5,941
6,359
13,361
10,219
17,133
14,013
$
460,422
$
505,497
$
740,095
$
808,186
$
(20,118
)
$
(19,025
)
(1)
Includes U.S. small business
commercial exposure.
(2)
Industries are viewed from a
variety of perspectives to best isolate the perceived risks. For
purposes of this table, the real estate industry is defined
based on the borrowers or counterparties primary
business activity using operating cash flows and primary source
of repayment as key factors.
(3)
Represents net notional credit
protection purchased. See Risk Mitigation below for additional
information.
Table of Contents
December 31
2010
2009
14
%
16
%
80
81
6
3
100
%
100
%
December 31
2010
2009
Net
Percent of
Net
Percent of
(Dollars in millions)
Notional
Total
Notional
Total
$
0.0
%
$
15
(0.1
)%
(188
)
0.9
(344
)
1.8
(6,485
)
32.2
(6,092
)
32.0
(7,731
)
38.4
(9,573
)
50.4
(2,106
)
10.5
(2,725
)
14.3
(1,260
)
6.3
(835
)
4.4
(762
)
3.8
(1,691
)
8.9
(1,586
)
7.9
2,220
(11.7
)
$
(20,118
)
100.0
%
$
(19,025
)
100.0
%
(1)
Ratings are refreshed on a
quarterly basis.
(2)
The Corporation considers ratings
of BBB- or higher to meet the definition of investment grade.
(3)
In addition to names which have not
been rated, NR includes $(1.5) billion and
$2.3 billion in net credit default swaps index positions at
December 31, 2010 and 2009. While index positions are
principally investment grade, credit default swaps indices
include names in and across each of the ratings categories.
Table of Contents
December 31
2010
2009
Contract/
Contract/
(Dollars in millions)
Notional
Credit Risk
Notional
Credit Risk
$
2,184,703
$
18,150
$
2,800,539
$
25,964
26,038
1,013
21,685
1,740
2,210,741
19,163
2,822,224
27,704
2,133,488
n/a
2,788,760
n/a
22,474
n/a
33,109
n/a
2,155,962
n/a
2,821,869
n/a
$
4,366,703
$
19,163
$
5,644,093
$
27,704
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
148,078
$
170,796
73,255
47,645
14,848
19,516
3,688
3,906
22,188
15,799
$
262,057
$
257,662
(1)
Local funding or liabilities are
subtracted from local exposures consistent with FFIEC reporting
requirements.
(2)
Derivative assets included in the
exposure amounts have been reduced by the amount of cash
collateral applied of $44.2 billion and $34.3 billion
at December 31, 2010 and 2009.
(3)
Generally, resale agreements are
presented based on the domicile of the counterparty, consistent
with FFIEC reporting requirements. Cross-border resale
agreements where the underlying securities are U.S. Treasury
securities, in which case the domicile is the U.S., are excluded
from this presentation.
Exposure as a
Cross-border
Percentage of
(Dollars in millions)
December 31
Public Sector
Banks
Private Sector
Exposure
Total Assets
2010
$
101
$
5,544
$
32,354
$
37,999
1.68
%
2009
157
8,478
52,080
60,715
2.73
2010
978
8,110
15,685
24,773
1.09
2010
777
21,617
1,534
23,928
1.06
(1)
At December 31, 2010, total
cross-border exposure for the United Kingdom, France and China
included derivatives exposure of $2.3 billion,
$1.7 billion and $870 million, respectively, which has
been reduced by the amount of cash collateral applied of
$13.0 billion, $6.9 billion and $130 million,
respectively. Derivative assets were collateralized by other
marketable securities of $96 million, $26 million and
$71 million, respectively, at December 31, 2010.
(2)
At December 31, 2009, total
cross-border exposure for France and China was
$17.4 billion and $12.1 billion, representing
0.78 percent and 0.54 percent of total assets.
Table of Contents
Total
Emerging
Increase
Loans and
Local Country
Market
(Decrease)
Leases, and
Securities/
Total Cross-
Exposure Net
Exposure at
From
Loan
Other
Derivative
Other
border
of Local
December 31,
December 31,
(Dollars in millions)
Commitments
Financing
(2)
Assets
(3)
Investments
(4)
Exposure
(5)
Liabilities
(6)
2010
2009
$
1,064
$
1,237
$
870
$
20,757
$
23,928
$
$
23,928
$
11,865
3,292
1,590
607
2,013
7,502
766
8,268
2,108
621
1,156
585
2,009
4,371
908
5,279
268
560
75
442
1,469
2,546
2,546
1,678
349
516
242
935
2,042
2,042
940
283
64
84
692
1,123
732
1,855
1,126
20
17
39
569
645
24
669
482
298
32
145
239
714
714
(130
)
6,487
4,687
3,014
28,683
42,871
2,430
45,301
18,337
1,033
293
560
2,355
4,241
1,565
5,806
(3,648
)
1,917
305
303
1,860
4,385
4,385
(1,086
)
954
132
401
38
1,525
1
1,526
365
132
460
10
75
677
677
481
231
150
16
121
518
518
248
74
167
10
456
707
153
860
(154
)
4,341
1,507
1,300
4,905
12,053
1,719
13,772
(3,794
)
967
6
154
49
1,176
1,176
456
78
3
1,079
1,160
1,160
27
406
7
56
102
571
571
(577
)
441
55
132
153
781
781
13
1,892
68
345
1,383
3,688
3,688
(81
)
264
133
35
104
536
536
(133
)
269
165
14
52
500
500
112
148
210
277
618
1,253
1,253
35
681
508
326
774
2,289
2,289
14
$
13,401
$
6,770
$
4,985
$
35,745
$
60,901
$
4,149
$
65,050
$
14,476
(1)
There is no generally accepted
definition of emerging markets. The definition that we use
includes all countries in Asia Pacific excluding Japan,
Australia and New Zealand; all countries in Latin America
excluding Cayman Islands and Bermuda; all countries in Middle
East and Africa; and all countries in Central and Eastern
Europe. At December 31, 2010, there was $460 million
in emerging market exposure accounted for under the fair value
option, none at December 31, 2009.
(2)
Includes acceptances, due froms,
SBLCs, commercial letters of credit and formal guarantees.
(3)
Derivative assets are carried at
fair value and have been reduced by the amount of cash
collateral applied of $1.2 billion and $557 million at
December 31, 2010 and 2009. At December 31, 2010 and
2009, there were $408 million and $616 million of
other marketable securities collateralizing derivative assets.
(4)
Generally, cross-border resale
agreements are presented based on the domicile of the
counterparty, consistent with FFIEC reporting requirements.
Cross-border resale agreements where the underlying securities
are U.S. Treasury securities, in which case the domicile is the
U.S., are excluded from this presentation.
(5)
Cross-border exposure includes
amounts payable to the Corporation by borrowers or
counterparties with a country of residence other than the one in
which the credit is booked, regardless of the currency in which
the claim is denominated, consistent with FFIEC reporting
requirements.
(6)
Local country exposure includes
amounts payable to the Corporation by borrowers with a country
of residence in which the credit is booked regardless of the
currency in which the claim is denominated. Local funding or
liabilities are subtracted from local exposures consistent with
FFIEC reporting requirements. Total amount of available local
liabilities funding local country exposure at December 31,
2010 was $15.7 billion compared to $17.6 billion at
December 31, 2009. Local liabilities at December 31,
2010 in Asia Pacific, Latin America, and Middle East and Africa
were $15.1 billion, $451 million and
$193 million, respectively, of which $7.9 billion was
in Singapore, $1.8 billion in both China and Hong Kong,
$1.2 billion in India, $802 million in South Korea and
$573 million in Taiwan. There were no other countries with
available local liabilities funding local country exposure
greater than $500 million.
(7)
No country included in Other Asia
Pacific, Other Latin America, Other Middle East and Africa, and
Other Central and Eastern Europe had total
non-U.S.
exposure of more than $500 million.
Table of Contents
Local
Total Non-
Loans and
Country
U.S.
Leases, and
Securities/
Total Cross-
Exposure Net
Exposure at
Loan
Other
Derivative
Other
border
of Local
December 31,
Credit Default
(Dollars in millions)
Commitments
Financing
(1)
Assets
(2)
Investments
(3)
Exposure
(4)
Liabilities
(5)
2010
Protection
(6)
$
$
$
$
103
$
103
$
$
103
$
(23
)
260
2
43
69
374
374
$
260
$
2
$
43
$
172
$
477
$
$
477
$
(23
)
$
7
$
326
$
22
$
52
$
407
$
$
407
$
1,641
524
152
267
2,584
2,584
(15
)
$
1,648
$
850
$
174
$
319
$
2,991
$
$
2,991
$
(15
)
$
$
$
1,247
$
21
$
1,268
$
1
$
1,269
$
(1,136
)
967
639
560
1,310
3,476
1,792
5,268
(67
)
$
967
$
639
$
1,807
$
1,331
$
4,744
$
1,793
$
6,537
$
(1,203
)
$
$
$
36
$
$
36
$
$
36
$
(19
)
65
55
26
344
490
490
$
65
$
55
$
62
$
344
$
526
$
$
526
$
(19
)
$
25
$
$
36
$
$
61
$
40
$
101
$
(57
)
1,028
40
382
1,872
3,322
1,835
5,157
(7
)
$
1,053
$
40
$
418
$
1,872
$
3,383
$
1,875
$
5,258
$
(64
)
$
32
$
326
$
1,341
$
176
$
1,875
$
41
$
1,916
$
(1,235
)
3,961
1,260
1,163
3,862
10,246
3,627
13,873
(89
)
$
3,993
$
1,586
$
2,504
$
4,038
$
12,121
$
3,668
$
15,789
$
(1,324
)
(1)
Includes acceptances, due froms,
SBLCs, commercial letters of credit and formal guarantees.
(2)
Derivative assets are carried at
fair value and have been reduced by the amount of cash
collateral applied of $2.9 billion at December 31,
2010. At December 31, 2010, there was $41 million of
other marketable securities collateralizing derivative assets.
(3)
Generally, cross-border resale
agreements are presented based on the domicile of the
counterparty, consistent with FFIEC reporting requirements.
Cross-border resale agreements where the underlying securities
are U.S. Treasury securities, in which case the domicile is the
U.S., are excluded from this presentation.
(4)
Cross-border exposure includes
amounts payable to the Corporation by borrowers or
counterparties with a country of residence other than the one in
which the credit is booked, regardless of the currency in which
the claim is denominated, consistent with FFIEC reporting
requirements.
(5)
Local country exposure includes
amounts payable to the Corporation by borrowers with a country
of residence in which the credit is booked regardless of the
currency in which the claim is denominated. Local funding or
liabilities are subtracted from local exposures consistent with
FFIEC reporting requirements. Of the $838 million applied
for exposure reduction, $459 million was in Italy,
$208 million in Ireland, $137 million in Spain and
$34 million in Greece.
(6)
Represents net notional credit
default protection purchased to hedge counterparty risk.
Table of Contents
Table of Contents
(Dollars in millions)
2010
2009
$
37,200
$
23,071
10,788
n/a
47,988
23,071
(3,779
)
(4,436
)
(7,059
)
(7,205
)
(77
)
(104
)
(13,818
)
(6,753
)
(2,424
)
(1,332
)
(4,303
)
(6,406
)
(320
)
(491
)
(31,780
)
(26,727
)
(3,190
)
(5,237
)
(2,185
)
(2,744
)
(96
)
(217
)
(139
)
(558
)
(5,610
)
(8,756
)
(37,390
)
(35,483
)
109
86
278
155
9
3
791
206
217
93
967
943
59
63
2,430
1,549
391
161
168
42
39
22
28
21
626
246
3,056
1,795
(34,334
)
(33,688
)
28,195
48,366
36
(549
)
41,885
37,200
1,487
421
240
204
(539
)
862
1,188
1,487
$
43,073
$
38,687
(1)
Includes U.S. small business
commercial charge-offs of $2.0 billion and
$3.0 billion in 2010 and 2009.
(2)
Includes U.S. small business
commercial recoveries of $107 million and $65 million
in 2010 and 2009.
(3)
The 2009 amount includes a
$750 million reduction in the allowance for loan and lease
losses related to credit card loans of $8.5 billion which
were exchanged for $7.8 billion in
held-to-maturity
debt securities that were issued by the Corporations U.S.
Credit Card Securitization Trust and retained by the Corporation.
(4)
The 2010 amount includes the
remaining balance of the acquired Merrill Lynch reserve
excluding those commitments accounted for under the fair value
option, net of accretion, and the impact of funding previously
unfunded positions. All other amounts represent primarily
accretion of the Merrill Lynch purchase accounting adjustment
and the impact of funding previously unfunded positions.
Table of Contents
(Dollars in millions)
2010
2009
$
937,119
$
895,192
4.47
%
4.16
%
5.40
4.81
2.44
2.96
$
954,278
$
941,862
3.60
%
3.58
%
136
111
1.22
1.10
3.94
%
3.88
%
4.66
4.43
2.44
2.96
3.73
3.71
116
99
1.04
1.00
(5)
Outstanding loan and lease balances
and ratios do not include loans accounted for under the fair
value option. Loans accounted for under the fair value option
were $3.3 billion and $4.9 billion at
December 31, 2010 and 2009. Average loans accounted for
under the fair value option were $4.1 billion and
$6.9 billion in 2010 and 2009.
(6)
Allowance for loan and lease losses
includes $22.9 billion and $17.7 billion allocated to
products that were excluded from nonperforming loans, leases and
foreclosed properties at December 31, 2010 and 2009.
(7)
For more information on our
definition of nonperforming loans, see the discussion beginning
on page 81.
(8)
Metrics exclude the impact of
Countrywide consumer PCI loans and Merrill Lynch commercial PCI
loans.
December 31, 2010
January 1,
2010
(1)
December 31, 2009
Percent of
Percent of
Loans and
Loans and
Percent
Leases
Percent of
Leases
(Dollars in millions)
Amount
of Total
Outstanding
(2)
Amount
Amount
Total
Outstanding
(2)
$
4,648
11.10
%
1.80
%
$
4,607
$
4,607
12.38
%
1.90
%
12,934
30.88
9.37
10,733
10,160
27.31
6.81
1,670
3.99
12.74
989
989
2.66
6.66
10,876
25.97
9.56
15,102
6,017
16.18
12.17
2,045
4.88
7.45
2,686
1,581
4.25
7.30
2,381
5.68
2.64
4,251
4,227
11.36
4.35
161
0.38
5.67
204
204
0.55
6.53
34,715
82.88
5.40
38,572
27,785
74.69
4.81
3,576
8.54
1.88
5,153
5,152
13.85
2.59
3,137
7.49
6.35
3,567
3,567
9.59
5.14
126
0.30
0.57
291
291
0.78
1.31
331
0.79
1.03
405
405
1.09
1.50
7,170
17.12
2.44
9,416
9,415
25.31
2.96
41,885
100.00
%
4.47
47,988
37,200
100.00
%
4.16
1,188
1,487
1,487
$
43,073
$
49,475
$
38,687
(1)
Balances reflect impact of new
consolidation guidance.
(2)
Ratios are calculated as allowance
for loan and lease losses as a percentage of loans and leases
outstanding excluding loans accounted for under the fair value
option for each loan and lease category. Loans accounted for
under the fair value option include U.S. commercial loans of
$1.6 billion and $3.0 billion,
non-U.S.
commercial loans of $1.7 billion and $1.9 billion and
commercial real estate loans of $79 million and
$90 million at December 31, 2010 and 2009.
(3)
December 31, 2010 is presented
in accordance with new consolidation guidance. December 31,
2009 has not been restated.
(4)
Includes allowance for U.S. small
business commercial loans of $1.5 billion and
$2.4 billion at December 31, 2010 and 2009.
(5)
Includes allowance for loan and
lease losses for impaired commercial loans of $1.1 billion
and $1.2 billion at December 31, 2010 and 2009.
Included in the $1.1 billion at December 31, 2010 is
$445 million related to U.S. small business commercial
renegotiated TDR loans.
(6)
Includes $6.4 billion and
$3.9 billion of allowance for credit losses related to
purchased credit-impaired loans at December 31, 2010 and
2009.
Table of Contents
Table of Contents
Table of Contents
Daily Trading-related Revenue and VaR
2010
2009
(Dollars in millions)
Average
High
(1)
Low
(1)
Average
High
(1)
Low
(1)
$
23.8
$
73.1
$
4.9
$
20.3
$
55.4
$
6.1
64.1
128.3
33.2
73.7
136.7
43.6
171.5
287.2
122.9
183.3
338.7
123.9
83.1
138.5
42.9
51.1
81.3
32.4
39.4
90.9
20.8
44.6
87.6
23.6
19.9
31.7
12.8
20.2
29.1
16.0
(200.5
)
(187.0
)
$
201.3
$
375.2
$
123.0
$
206.2
$
325.2
$
117.9
(1)
The high and low for the total
portfolio may not equal the sum of the individual components as
the highs or lows of the individual portfolios may have occurred
on different trading days.
Table of Contents
December 31
2010
2009
Federal
Three-Month
10-Year
Federal
Three-Month
10-Year
Funds
LIBOR
Swap
Funds
LIBOR
Swap
0.25
%
0.30
%
3.39
%
0.25
%
0.25
%
3.97
%
0.25
0.72
3.86
1.14
1.53
4.47
(Dollars in millions)
December 31
Curve Change
Short Rate (bps)
Long Rate (bps)
2010
2009
+100
+100
$
601
$
598
100
100
(834
)
(1,084
)
+100
136
127
100
(637
)
(616
)
100
(170
)
(444
)
+100
493
476
(1)
Prior periods are reported on a
managed basis.
Table of Contents
Table of Contents
December 31, 2010
Expected Maturity
Average
Fair
Estimated
(Dollars in millions, average
estimated duration in years)
Value
Total
2011
2012
2013
2014
2015
Thereafter
Duration
$
7,364
4.45
$
104,949
$
8
$
36,201
$
7,909
$
7,270
$
8,094
$
45,467
3.94
%
1.00
%
2.49
%
3.90
%
3.66
%
3.71
%
5.19
%
(3,827
)
6.03
$
156,067
$
50,810
$
16,205
$
1,207
$
4,712
$
10,933
$
72,200
3.02
%
2.37
%
2.15
%
2.88
%
2.40
%
2.75
%
3.76
%
103
$
152,849
$
13,449
$
49,509
$
31,503
$
21,085
$
11,431
$
25,872
4,830
235,164
21,936
39,365
46,380
41,003
23,430
63,050
(120
)
6,572
(1,180
)
2,092
2,390
603
311
2,356
4,272
109,544
59,508
5,427
10,048
13,035
2,372
19,154
(21
)
(280
)
(280
)
$
12,601
December 31, 2009
Expected Maturity
Average
Fair
Estimated
(Dollars in millions, average
estimated duration in years)
Value
Total
2010
2011
2012
2013
2014
Thereafter
Duration
$
4,047
4.34
$
110,597
$
15,212
$
8
$
35,454
$
7,333
$
8,247
$
44,343
3.65
%
1.61
%
1.00
%
2.42
%
4.06
%
3.48
%
5.29
%
1,175
4.18
$
104,445
$
2,500
$
50,810
$
14,688
$
806
$
3,729
$
31,912
2.83
%
1.82
%
2.37
%
2.24
%
3.77
%
2.61
%
3.92
%
107
$
42,881
$
4,549
$
8,593
$
11,934
$
5,591
$
5,546
$
6,668
4,633
122,807
7,958
10,968
19,862
18,322
31,853
33,844
174
6,540
656
2,031
1,742
244
603
1,264
2,144
103,726
63,158
3,491
3,977
6,795
10,585
15,720
(8
)
10,559
10,559
$
12,272
(1)
At December 31, 2010 and 2009,
the receive-fixed interest rate swap notional amounts that
represented forward starting swaps and will not be effective
until their respective contractual start dates were
$1.7 billion and $2.5 billion, and the forward
starting pay-fixed swap positions were $34.5 billion and
$76.8 billion.
(2)
Does not include basis adjustments
on either fixed-rate debt issued by the Corporation or AFS debt
securities which are hedged in fair value hedge relationships
using derivatives designated as hedging instruments that
substantially offset the fair values of these derivatives.
(3)
At December 31, 2010 and
2009, same-currency basis swaps consist of $152.8 billion
and $42.9 billion in both foreign currency and U.S.
dollar-denominated basis swaps in which both sides of the swap
are in the same currency.
(4)
Foreign exchange basis swaps
consisted of cross-currency variable interest rate swaps used
separately or in conjunction with receive-fixed interest rate
swaps.
(5)
Does not include foreign currency
translation adjustments on certain
non-U.S.
debt issued by the Corporation which substantially offset the
fair values of these derivatives.
(6)
Option products of
$6.6 billion at December 31, 2010 are comprised of
$160 million in purchased caps/floors, $8.2 billion in
swaptions and $(1.8) billion in foreign exchange options.
Option products of $6.5 billion at December 31, 2009
are comprised of $177 million in purchased caps/floors and
$6.3 billion in swaptions.
(7)
Foreign exchange contracts include
foreign currency-denominated and cross-currency receive-fixed
interest rate swaps as well as foreign currency forward rate
contracts. Total notional amount was comprised of
$57.6 billion in foreign currency-denominated and
cross-currency receive-fixed swaps and $52.0 billion in
foreign currency forward rate contracts at December 31,
2010, and $46.0 billion in foreign currency-denominated and
cross-currency receive-fixed swaps and $57.7 billion in
foreign currency forward rate contracts at December 31,
2009.
(8)
Reflects the net of long and short
positions.
Table of Contents
Table of Contents
Table of Contents
Table of Contents
December 31, 2010
December 31, 2009
As a %
As a %
of Total
As a %
of Total
As a %
Level 3
Level 3
of Total
Level 3
Level 3
of Total
(Dollars in millions)
Fair Value
Assets
Assets
Fair Value
Assets
Assets
$
15,525
19.56
%
0.69
%
$
21,077
20.34
%
0.95
%
18,773
23.65
0.83
23,048
22.24
1.03
15,873
19.99
0.70
20,346
19.63
0.91
29,217
36.80
1.29
39,164
37.79
1.76
$
79,388
100.00
%
3.51
%
$
103,635
100.00
%
4.65
%
As a %
As a %
of Total
As a %
of Total
As a %
Level 3
Level 3
of Total
Level 3
Level 3
of Total
Fair Value
Liabilities
Liabilities
Fair Value
Liabilities
Liabilities
$
7
0.05
%
$
396
1.81
%
0.02
%
11,028
70.90
0.54
%
15,185
69.53
0.76
2,986
19.20
0.15
4,660
21.34
0.23
1,534
9.85
0.07
1,598
7.32
0.08
$
15,555
100.00
%
0.76
%
$
21,839
100.00
%
1.09
%
(1)
Level 3 total assets and
liabilities are shown before the impact of counterparty netting
related to our derivative positions.
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
2010
2009
2008
Interest
Interest
Interest
Average
Income/
Yield/
Average
Income/
Yield/
Average
Income/
Yield/
(Dollars in millions)
Balance
Expense
Rate
Balance
Expense
Rate
Balance
Expense
Rate
$
27,419
$
292
1.06
%
$
27,465
$
334
1.22
%
$
10,696
$
367
3.43
%
256,943
1,832
0.71
235,764
2,894
1.23
128,053
3,313
2.59
213,745
7,050
3.30
217,048
8,236
3.79
186,579
9,259
4.96
323,946
11,850
3.66
271,048
13,224
4.88
250,551
13,383
5.34
245,727
11,736
4.78
249,335
13,535
5.43
260,244
14,657
5.63
145,860
5,990
4.11
154,761
6,736
4.35
135,060
7,606
5.63
13,830
527
3.81
17,340
1,082
6.24
10,898
858
7.87
117,962
12,644
10.72
52,378
5,666
10.82
63,318
6,843
10.81
28,011
3,450
12.32
19,655
2,122
10.80
16,527
2,042
12.36
96,649
4,753
4.92
99,993
6,016
6.02
82,516
6,934
8.40
2,927
186
6.34
3,303
237
7.17
3,816
321
8.41
650,966
39,286
6.04
596,765
35,394
5.93
572,379
39,261
6.86
195,895
7,909
4.04
223,813
8,883
3.97
220,554
11,702
5.31
59,947
2,000
3.34
73,349
2,372
3.23
63,208
3,057
4.84
21,427
1,070
4.99
21,979
990
4.51
22,290
799
3.58
30,096
1,091
3.62
32,899
1,406
4.27
32,440
1,503
4.63
307,365
12,070
3.93
352,040
13,651
3.88
338,492
17,061
5.04
958,331
51,356
5.36
948,805
49,045
5.17
910,871
56,322
6.18
117,189
3,919
3.34
130,063
5,105
3.92
75,972
4,161
5.48
1,897,573
76,299
4.02
1,830,193
78,838
4.31
1,562,722
86,805
5.55
174,621
368
196,237
379
45,367
73
367,408
416,638
235,896
$
2,439,602
$
2,443,068
$
1,843,985
$
36,649
$
157
0.43
%
$
33,671
$
215
0.64
%
$
32,204
$
230
0.71
%
441,589
1,405
0.32
358,712
1,557
0.43
267,831
3,781
1.41
142,648
1,723
1.21
218,041
5,054
2.32
203,887
7,404
3.63
17,683
226
1.28
37,796
473
1.25
32,264
1,076
3.33
638,569
3,511
0.55
648,220
7,299
1.13
536,186
12,491
2.33
18,102
144
0.80
18,688
145
0.78
37,354
1,056
2.83
3,349
10
0.28
6,270
16
0.26
10,975
279
2.54
55,059
332
0.60
57,045
347
0.61
53,695
1,424
2.65
76,510
486
0.64
82,003
508
0.62
102,024
2,759
2.70
715,079
3,997
0.56
730,223
7,807
1.07
638,210
15,250
2.39
430,329
3,699
0.86
488,644
5,512
1.13
455,703
12,362
2.71
91,669
2,571
2.80
72,207
2,075
2.87
72,915
2,774
3.80
490,497
13,707
2.79
446,634
15,413
3.45
231,235
9,938
4.30
1,727,574
23,974
1.39
1,737,708
30,807
1.77
1,398,063
40,324
2.88
273,507
250,743
192,947
205,290
209,972
88,144
233,231
244,645
164,831
$
2,439,602
$
2,443,068
$
1,843,985
2.63
%
2.54
%
2.67
%
0.13
0.08
0.30
$
52,325
2.76
%
$
48,031
2.62
%
$
46,481
2.97
%
(1)
Fees earned on overnight deposits
placed with the Federal Reserve, which were included in time
deposits placed and other short-term investments in prior
periods, have been reclassified to cash and cash equivalents,
consistent with the Corporations Consolidated Balance
Sheet presentation of these deposits. Net interest income and
net interest yield are calculated excluding these fees.
(2)
Yields on AFS debt securities are
calculated based on fair value rather than the cost basis. The
use of fair value does not have a material impact on net
interest yield.
(3)
Nonperforming loans are included in
the respective average loan balances. Income on these
nonperforming loans is recognized on a cash basis. Purchased
credit-impaired loans were written down to fair value upon
acquisition and accrete interest income over the remaining life
of the loan.
(4)
Includes
non-U.S.
residential mortgage loans of $410 million and
$622 million in 2010 and 2009. There were no material
non-U.S.
residential mortgage loans prior to January 1, 2009.
(5)
Includes
non-U.S.
consumer loans of $7.9 billion, $8.0 billion and
$2.7 billion in 2010, 2009 and 2008, respectively.
(6)
Includes consumer finance loans of
$2.1 billion, $2.4 billion and $2.8 billion;
other
non-U.S.
consumer loans of $731 million, $657 million and
$774 million; and consumer overdrafts of $111 million,
$217 million and $247 million in 2010, 2009 and 2008,
respectively.
(7)
Includes U.S. commercial real
estate loans of $57.3 billion, $70.7 billion and
$62.1 billion; and
non-U.S.
commercial real estate loans of $2.7 billion,
$2.7 billion and $1.1 billion in 2010, 2009 and 2008,
respectively.
(8)
Interest income includes the impact
of interest rate risk management contracts, which decreased
interest income on the underlying assets $1.4 billion,
$456 million and $260 million in 2010, 2009 and 2008,
respectively. Interest expense includes the impact of interest
rate risk management contracts, which increased (decreased)
interest expense on the underlying liabilities
$(3.5) billion, $(3.0) billion and $409 million
in 2010, 2009 and 2008, respectively. For further information on
interest rate contracts, see Interest Rate Risk Management for
Nontrading Activities beginning on page 103.
Table of Contents
From 2009 to 2010
From 2008 to 2009
Due to Change in
(1)
Net
Due to Change
in
(1)
Net
(Dollars in millions)
Volume
Rate
Change
Volume
Rate
Change
$
1
$
(43
)
$
(42
)
$
575
$
(608
)
$
(33
)
266
(1,328
)
(1,062
)
2,793
(3,212
)
(419
)
(135
)
(1,051
)
(1,186
)
1,507
(2,530
)
(1,023
)
2,585
(3,959
)
(1,374
)
1,091
(1,250
)
(159
)
(192
)
(1,607
)
(1,799
)
(619
)
(503
)
(1,122
)
(391
)
(355
)
(746
)
1,107
(1,977
)
(870
)
(219
)
(336
)
(555
)
507
(283
)
224
7,097
(119
)
6,978
(1,181
)
4
(1,177
)
903
425
1,328
387
(307
)
80
(198
)
(1,065
)
(1,263
)
1,465
(2,383
)
(918
)
(27
)
(24
)
(51
)
(43
)
(41
)
(84
)
3,892
(3,867
)
(1,106
)
132
(974
)
182
(3,001
)
(2,819
)
(436
)
64
(372
)
493
(1,178
)
(685
)
(24
)
104
80
(12
)
203
191
(121
)
(194
)
(315
)
20
(117
)
(97
)
(1,581
)
(3,410
)
2,311
(7,277
)
(511
)
(675
)
(1,186
)
2,966
(2,022
)
944
$
(2,539
)
$
(7,967
)
$
20
$
(78
)
$
(58
)
$
9
$
(24
)
$
(15
)
342
(494
)
(152
)
1,277
(3,501
)
(2,224
)
(1,745
)
(1,586
)
(3,331
)
511
(2,861
)
(2,350
)
(252
)
5
(247
)
183
(786
)
(603
)
(3,788
)
(5,192
)
(4
)
3
(1
)
(527
)
(384
)
(911
)
(7
)
1
(6
)
(120
)
(143
)
(263
)
(11
)
(4
)
(15
)
88
(1,165
)
(1,077
)
(22
)
(2,251
)
(3,810
)
(7,443
)
(649
)
(1,164
)
(1,813
)
880
(7,730
)
(6,850
)
556
(60
)
496
(30
)
(669
)
(699
)
1,509
(3,215
)
(1,706
)
9,267
(3,792
)
5,475
(6,833
)
(9,517
)
$
4,294
$
1,550
(1)
The changes for each category of
interest income and expense are divided between the portion of
change attributable to the variance in volume and the portion of
change attributable to the variance in rate for that category.
The unallocated change in rate or volume variance is allocated
between the rate and volume variances.
(2)
Fees earned on overnight deposits
placed with the Federal Reserve, which were included in the time
deposits placed and other short-term investments line in prior
periods, have been reclassified to cash and cash equivalents,
consistent with the balance sheet presentation of these
deposits. Net interest income is calculated excluding these fees.
Table of Contents
Outstanding
Notional
Amount
Per Annum
Dividend Per
Preferred Stock
(in millions)
Declaration Date
Record Date
Payment Date
Dividend Rate
Share
$
1
January 26, 2011
April 11, 2011
April 25, 2011
7.00
%
$
1.75
October 25, 2010
January 11, 2011
January 25, 2011
7.00
1.75
July 28, 2010
October 11, 2010
October 25, 2010
7.00
1.75
April 28, 2010
July 9, 2010
July 23, 2010
7.00
1.75
January 27, 2010
April 9, 2010
April 23, 2010
7.00
1.75
$
661
January 4, 2011
February 28, 2011
March 14, 2011
6.204
%
$
0.38775
October 4, 2010
November 30, 2010
December 14, 2010
6.204
0.38775
July 2, 2010
August 31, 2010
September 14, 2010
6.204
0.38775
April 2, 2010
May 28, 2010
June 14, 2010
6.204
0.38775
January 4, 2010
February 26, 2010
March 15, 2010
6.204
0.38775
$
487
January 4, 2011
January 31, 2011
February 15, 2011
Floating
$
0.25556
October 4, 2010
October 29, 2010
November 15, 2010
Floating
0.25556
July 2, 2010
July 30, 2010
August 16, 2010
Floating
0.25556
April 2, 2010
April 30, 2010
May 17, 2010
Floating
0.24722
January 4, 2010
January 29, 2010
February 16, 2010
Floating
0.25556
$
2,862
January 4, 2011
January 15, 2011
February 1, 2011
8.20
%
$
0.51250
October 4, 2010
October 15, 2010
November 1, 2010
8.20
0.51250
July 2, 2010
July 15, 2010
August 2, 2010
8.20
0.51250
April 2, 2010
April 15, 2010
May 3, 2010
8.20
0.51250
January 4, 2010
January 15, 2010
February 1, 2010
8.20
0.51250
$
365
January 4, 2011
March 15, 2011
April 1, 2011
6.625
%
$
0.41406
October 4, 2010
December 15, 2010
January 3, 2011
6.625
0.41406
July 2, 2010
September 15, 2010
October 1, 2010
6.625
0.41406
April 2, 2010
June 15, 2010
July 1, 2010
6.625
0.41406
January 4, 2010
March 15, 2010
April 1, 2010
6.625
0.41406
$
978
January 4, 2011
January 15, 2011
February 1, 2011
7.25
%
$
0.45312
October 4, 2010
October 15, 2010
November 1, 2010
7.25
0.45312
July 2, 2010
July 15, 2010
August 2, 2010
7.25
0.45312
April 2, 2010
April 15, 2010
May 3, 2010
7.25
0.45312
January 4, 2010
January 15, 2010
February 1, 2010
7.25
0.45312
$
1,668
January 4, 2011
January 15, 2011
January 31, 2011
Fixed-to-Floating
$
40.00
July 2, 2010
July 15, 2010
July 30, 2010
Fixed-to-Floating
40.00
January 4, 2010
January 15, 2010
February 1, 2010
Fixed-to-Floating
40.00
$
3,349
December 17, 2010
January 3, 2011
January 31, 2011
7.25
%
$
18.125
September 17, 2010
October 1, 2010
November 1, 2010
7.25
18.125
June 17, 2010
July 1, 2010
July 30, 2010
7.25
18.125
March 17, 2010
April 1, 2010
April 30, 2010
7.25
18.125
$
1,434
October 4, 2010
October 31, 2010
November 15, 2010
Fixed-to-Floating
$
40.625
April 2, 2010
April 30, 2010
May 17, 2010
Fixed-to-Floating
40.625
(1)
Dividends are cumulative.
(2)
Dividends per depositary share,
each representing a 1/1000th interest in a share of preferred
stock.
(3)
Initially pays dividends
semi-annually.
(4)
Dividends per depositary share,
each representing a 1/25th interest in a share of preferred
stock.
Table of Contents
Outstanding
Notional
Amount
Per Annum
Dividend Per
Preferred Stock
(in millions)
Declaration Date
Record Date
Payment Date
Dividend Rate
Share
$
146
January 4, 2011
February 15, 2011
February 28, 2011
Floating
$
0.19167
October 4, 2010
November 15, 2010
November 29, 2010
Floating
0.19167
July 2, 2010
August 15, 2010
August 31, 2010
Floating
0.19167
April 2, 2010
May 15, 2010
May 28, 2010
Floating
0.18542
January 4, 2010
February 15, 2010
February 26, 2010
Floating
0.19167
$
526
January 4, 2011
February 15, 2011
February 28, 2011
Floating
$
0.19167
October 4, 2010
November 15, 2010
November 29, 2010
Floating
0.19167
July 2, 2010
August 15, 2010
August 31, 2010
Floating
0.19167
April 2, 2010
May 15, 2010
May 28, 2010
Floating
0.18542
January 4, 2010
February 15, 2010
February 26, 2010
Floating
0.19167
$
670
January 4, 2011
February 15, 2011
February 28, 2011
6.375
%
$
0.39843
October 4, 2010
November 15, 2010
November 29, 2010
6.375
0.39843
July 2, 2010
August 15, 2010
August 30, 2010
6.375
0.39843
April 2, 2010
May 15, 2010
May 28, 2010
6.375
0.39843
January 4, 2010
February 15, 2010
March 1, 2010
6.375
0.39843
$
389
January 4, 2011
February 15, 2011
February 28, 2011
Floating
$
0.25556
October 4, 2010
November 15, 2010
November 29, 2010
Floating
0.25556
July 2, 2010
August 15, 2010
August 31, 2010
Floating
0.25556
April 2, 2010
May 15, 2010
May 28, 2010
Floating
0.24722
January 4, 2010
February 15, 2010
February 26, 2010
Floating
0.25556
$
606
January 4, 2011
February 1, 2011
February 22, 2011
Floating
$
0.25556
October 4, 2010
November 1, 2010
November 22, 2010
Floating
0.25556
July 2, 2010
August 1, 2010
August 23, 2010
Floating
0.25556
April 2, 2010
May 1, 2010
May 21, 2010
Floating
0.24722
January 4, 2010
February 1, 2010
February 22, 2010
Floating
0.25556
$
65
January 4, 2011
March 15, 2011
March 30, 2011
6.70
%
$
0.41875
October 4, 2010
December 15, 2010
December 30, 2010
6.70
0.41875
July 2, 2010
September 15, 2010
September 30, 2010
6.70
0.41875
April 2, 2010
June 15, 2010
June 30, 2010
6.70
0.41875
January 4, 2010
March 15, 2010
March 30, 2010
6.70
0.41875
$
17
January 4, 2011
March 15, 2011
March 30, 2011
6.25
%
$
0.39062
October 4, 2010
December 15, 2010
December 30, 2010
6.25
0.39062
July 2, 2010
September 15, 2010
September 30, 2010
6.25
0.39062
April 2, 2010
June 15, 2010
June 30, 2010
6.25
0.39062
January 4, 2010
March 15, 2010
March 30, 2010
6.25
0.39062
$
2,673
January 4, 2011
February 15, 2011
February 28, 2011
8.625
%
$
0.53906
October 4, 2010
November 15, 2010
November 29, 2010
8.625
0.53906
July 2, 2010
August 15, 2010
August 31, 2010
8.625
0.53906
April 2, 2010
May 15, 2010
May 28, 2010
8.625
0.53906
January 4, 2010
February 15, 2010
March 1, 2010
8.625
0.53906
$
October 4, 2010
October 5, 2010
October 15, 2010
9.00
%
$
1,150.00
July 2, 2010
August 15, 2010
August 30, 2010
9.00
2,250.00
April 2, 2010
May 15, 2010
May 28, 2010
9.00
2,250.00
January 4, 2010
February 15, 2010
March 1, 2010
9.00
2,250.00
$
October 4, 2010
October 5, 2010
October 15, 2010
9.00
%
$
1,150.00
July 2, 2010
August 15, 2010
August 30, 2010
9.00
2,250.00
April 2, 2010
May 15, 2010
May 28, 2010
9.00
2,250.00
January 4, 2010
February 15, 2010
March 1, 2010
9.00
2,250.00
(5)
Dividends per depositary share,
each representing a 1/1200th interest in a share of preferred
stock.
(6)
Dividends per depositary share,
each representing a 1/40th interest in a share of preferred
stock.
(7)
All of the outstanding shares of
the preferred stock of Merrill Lynch & Co., Inc.
converted into 31 million shares of common stock on
October 15, 2010.
(8)
All of the outstanding shares of
the preferred stock of Merrill Lynch & Co., Inc.
converted into 19 million shares of common stock on
October 15, 2010.
Table of Contents
December 31
(Dollars in millions)
2010
(1)
2009
2008
2007
2006
$
257,973
$
242,129
$
248,063
$
274,949
$
241,181
137,981
149,126
152,483
114,820
87,893
13,108
14,854
19,981
n/a
n/a
113,785
49,453
64,128
65,774
61,195
27,465
21,656
17,146
14,950
10,999
90,308
97,236
83,436
76,538
59,206
2,830
3,110
3,442
4,170
5,231
643,450
577,564
588,679
551,201
465,705
190,305
198,903
219,233
208,297
161,982
49,393
69,447
64,701
61,298
36,258
21,942
22,199
22,400
22,582
21,864
32,029
27,079
31,020
28,376
20,681
293,669
317,628
337,354
320,553
240,785
3,321
4,936
5,413
4,590
n/a
296,990
322,564
342,767
325,143
240,785
$
940,440
$
900,128
$
931,446
$
876,344
$
706,490
(1)
2010 period is presented in
accordance with new consolidation guidance.
(2)
Includes
non-U.S.
residential mortgages of $90 million and $552 million
at December 31, 2010 and 2009. There were no material
non-U.S.
residential mortgage loans prior to January 1, 2009.
(3)
Includes $11.8 billion,
$13.4 billion and $18.2 billion of pay option loans,
and $1.3 billion, $1.5 billion and $1.8 billion
of subprime loans at December 31, 2010, 2009 and 2008,
respectively. We no longer originate these products.
(4)
Includes dealer financial services
loans of $42.9 billion, $41.6 billion,
$40.1 billion, $37.2 billion and $33.4 billion;
consumer lending loans of $12.9 billion,
$19.7 billion, $28.2 billion, $24.4 billion and
$16.3 billion; U.S. securities-based lending margin loans
of $16.6 billion, $12.9 billion, $0, $0 and $0;
student loans of $6.8 billion, $10.8 billion,
$8.3 billion, $4.7 billion and $4.3 billion;
non-U.S.
consumer loans of $8.0 billion, $8.0 billion,
$1.8 billion, $3.4 billion and $3.9 billion; and
other consumer loans of $3.1 billion, $4.2 billion,
$5.0 billion, $6.8 billion and $1.3 billion at
December 31, 2010, 2009, 2008, 2007 and 2006, respectively.
(5)
Includes consumer finance loans of
$1.9 billion, $2.3 billion, $2.6 billion,
$3.0 billion and $2.8 billion, other
non-U.S.
consumer loans of $803 million, $709 million,
$618 million, $829 million and $2.3 billion, and
consumer overdrafts of $88 million, $144 million,
$211 million, $320 million and $172 million at
December 31, 2010, 2009, 2008, 2007 and 2006, respectively.
(6)
Includes U.S. small business
commercial loans, including card-related products, of
$14.7 billion, $17.5 billion, $19.1 billion,
$19.3 billion and $15.2 billion at December 31,
2010, 2009, 2008, 2007 and 2006, respectively.
(7)
Includes U.S. commercial real
estate loans of $46.9 billion, $66.5 billion,
$63.7 billion, $60.2 billion and $35.7 billion
and
non-U.S.
commercial real estate loans of $2.5 billion,
$3.0 billion, $979 million, $1.1 billion and
$578 million at December 31, 2010, 2009, 2008, 2007
and 2006, respectively.
(8)
Certain commercial loans are
accounted for under the fair value option and include U.S.
commercial loans of $1.6 billion, $3.0 billion,
$3.5 billion and $3.5 billion,
non-U.S.
commercial loans of $1.7 billion, $1.9 billion,
$1.7 billion and $790 million, and commercial real
estate loans of $79 million, $90 million,
$203 million and $304 million at December 31,
2010, 2009, 2008 and 2007, respectively.
December 31
(Dollars in millions)
2010
2009
2008
2007
2006
$
17,691
$
16,596
$
7,057
$
1,999
$
660
2,694
3,804
2,637
1,340
289
331
249
77
n/a
n/a
90
86
26
8
4
48
104
91
95
77
20,854
20,839
9,888
3,442
1,030
3,453
4,925
2,040
852
494
5,829
7,286
3,906
1,099
118
117
115
56
33
42
233
177
290
19
13
9,632
12,503
6,292
2,003
667
204
200
205
152
90
9,836
12,703
6,497
2,155
757
30,690
33,542
16,385
5,597
1,787
1,974
2,205
1,827
351
69
$
32,664
$
35,747
$
18,212
$
5,948
$
1,856
(1)
Balances do not include PCI loans
even though the customer may be contractually past due. Loans
accounted for as PCI loans were written down to fair value upon
acquisition and accrete interest income over the remaining life
of the loan. In addition, FHA loans are excluded from
nonperforming loans and foreclosed properties since the
principal payments are insured by the FHA.
(2)
In 2010, $2.0 billion in
interest income was estimated to be contractually due on
consumer loans and leases classified as nonperforming at
December 31, 2010 provided that these loans and leases had
been paying according to their terms and conditions, including
TDRs of which $9.9 billion were performing at
December 31, 2010 and not included in the table above.
Approximately $514 million of the estimated
$2.0 billion in contractual interest was received and
included in earnings for 2010.
(3)
Excludes U.S. small business
commercial loans.
(4)
In 2010, $429 million in
interest income was estimated to be contractually due on
commercial loans and leases classified as nonperforming at
December 31, 2010, including TDRs of which
$238 million were performing at December 31, 2010 and
not included in the table above. Approximately $76 million
of the estimated $429 million in contractual interest was
received and included in earnings for 2010.
(5)
Balances do not include loans
accounted for under the fair value option. At December 31,
2010, there were $30 million of nonperforming loans
accounted for under the fair value option. At December 31,
2010, there were $0 of loans or leases past due 90 days or
more and still accruing interest accounted for under the fair
value option.
Table of Contents
December 31
(Dollars in millions)
2010
2009
2008
2007
2006
$
16,768
$
11,680
$
372
$
237
$
118
3,320
2,158
2,197
1,855
1,991
599
515
368
272
184
1,058
1,488
1,370
745
378
2
3
4
4
7
21,747
15,844
4,311
3,113
2,678
236
213
381
119
66
47
80
52
36
78
18
32
23
25
26
6
67
7
16
9
307
392
463
196
179
325
624
640
427
199
632
1,016
1,103
623
378
$
22,379
$
16,860
$
5,414
$
3,736
$
3,056
(1)
Accruing loans past due
90 days or more do not include PCI loan portfolios of
Countrywide and Merrill Lynch that were considered impaired and
written down to fair value upon acquisition and accrete interest
income over the remaining life of the loan.
(2)
Balances represent loans insured by
the FHA.
(3)
Excludes U.S. small business
commercial loans.
(4)
Balances do not include loans
accounted for under the fair value option. At December 31,
2010, there were no loans past due 90 days or more and
still accruing interest accounted for under the fair value
option. At December 31, 2009, there was $87 million of
loans past due 90 days or more and still accruing interest
accounted for under the fair value option.
Table of Contents
(Dollars in millions)
2010
2009
2008
2007
2006
$
37,200
$
23,071
$
11,588
$
9,016
$
8,045
10,788
n/a
n/a
n/a
n/a
47,988
23,071
11,588
9,016
8,045
(3,779
)
(4,436
)
(964
)
(78
)
(74
)
(7,059
)
(7,205
)
(3,597
)
(286
)
(67
)
(77
)
(104
)
(19
)
n/a
n/a
(13,818
)
(6,753
)
(4,469
)
(3,410
)
(3,546
)
(2,424
)
(1,332
)
(639
)
(453
)
(292
)
(4,303
)
(6,406
)
(3,777
)
(1,885
)
(857
)
(320
)
(491
)
(461
)
(346
)
(327
)
(31,780
)
(26,727
)
(13,926
)
(6,458
)
(5,163
)
(3,190
)
(5,237
)
(2,567
)
(1,135
)
(597
)
(2,185
)
(2,744
)
(895
)
(54
)
(7
)
(96
)
(217
)
(79
)
(55
)
(28
)
(139
)
(558
)
(199
)
(28
)
(86
)
(5,610
)
(8,756
)
(3,740
)
(1,272
)
(718
)
(37,390
)
(35,483
)
(17,666
)
(7,730
)
(5,881
)
109
86
39
22
35
278
155
101
12
16
9
3
3
n/a
n/a
791
206
308
347
452
217
93
88
74
67
967
943
663
512
247
59
63
62
68
110
2,430
1,549
1,264
1,035
927
391
161
118
128
261
168
42
8
7
4
39
22
19
53
56
28
21
26
27
94
626
246
171
215
415
3,056
1,795
1,435
1,250
1,342
(34,334
)
(33,688
)
(16,231
)
(6,480
)
(4,539
)
28,195
48,366
26,922
8,357
5,001
36
(549
)
792
695
509
41,885
37,200
23,071
11,588
9,016
1,487
421
518
397
395
240
204
(97
)
28
9
(539
)
862
93
(7
)
1,188
1,487
421
518
397
$
43,073
$
38,687
$
23,492
$
12,106
$
9,413
(1)
Includes U.S. small business
commercial charge-offs of $2.0 billion, $3.0 billion,
$2.0 billion, $931 million and $424 million in
2010, 2009, 2008, 2007 and 2006, respectively.
(2)
Includes U.S. small business
commercial recoveries of $107 million, $65 million,
$39 million, $51 million and $54 million in 2010,
2009, 2008, 2007 and 2006, respectively.
(3)
The 2009 amount includes a
$750 million reduction in the allowance for loan and lease
losses related to credit card loans of $8.5 billion which
were exchanged for $7.8 billion in
held-to-maturity
debt securities that were issued by the Corporations U.S.
Credit Card Securitization Trust and retained by the
Corporation. The 2008 amount includes the $1.2 billion
addition of the Countrywide allowance for loan losses as of
July 1, 2008. The 2007 and 2006 amounts include
$750 million and $577 million of additions to
allowance for loan losses for certain acquisitions.
(4)
The 2010 amount includes the
remaining balance of the acquired Merrill Lynch liability
excluding those commitments accounted for under the fair value
option, net of accretion, and the impact of funding previously
unfunded positions. The 2009 amount represents primarily
accretion of the Merrill Lynch purchase accounting adjustment
and the impact of funding previously unfunded positions. The
2007 amount includes a $124 million addition for reserve
for unfunded lending commitments for a prior acquisition.
Table of Contents
(Dollars in millions)
2010
2009
2008
2007
2006
$
937,119
$
895,192
$
926,033
$
871,754
$
706,490
4.47
%
4.16
%
2.49
%
1.33
%
1.28
%
5.40
4.81
2.83
1.23
1.19
2.44
2.96
1.90
1.51
1.44
$
954,278
$
941,862
$
905,944
$
773,142
$
652,417
3.60
%
3.58
%
1.79
%
0.84
%
0.70
%
136
111
141
207
505
1.22
1.10
1.42
1.79
1.99
3.94
%
3.88
%
2.53
%
n/a
n/a
4.66
4.43
2.91
n/a
n/a
2.44
2.96
1.90
n/a
n/a
3.73
3.71
1.83
n/a
n/a
116
99
136
n/a
n/a
1.04
1.00
1.38
n/a
n/a
(5)
Outstanding loan and lease balances
and ratios do not include loans accounted for under the fair
value option. Loans accounted for under the fair value option
were $3.3 billion, $4.9 billion, $5.4 billion and
$4.6 billion at December 31, 2010, 2009, 2008 and
2007, respectively. Average loans accounted for under the fair
value option were $4.1 billion, $6.9 billion,
$4.9 billion and $3.0 billion for 2010, 2009, 2008 and
2007, respectively.
(6)
Allowance for loan and lease losses
includes $22.9 billion, $17.7 billion,
$11.7 billion, $6.5 billion and $5.4 billion
allocated to products that were excluded from nonperforming
loans, leases and foreclosed properties at December 31,
2010, 2009, 2008, 2007 and 2006, respectively.
(7)
For more information on our
definition of nonperforming loans, see the discussion beginning
on page 81.
(8)
Metrics exclude the impact of
Countrywide consumer PCI loans and Merrill Lynch commercial PCI
loans.
Table of Contents
December 31
2010
2009
2008
2007
2006
Percent
Percent
Percent
Percent
Percent
(Dollars in millions)
Amount
of Total
Amount
of Total
Amount
of Total
Amount
of Total
Amount
of Total
$
4,648
11.10
%
$
4,607
12.38
%
$
1,382
5.99
%
$
207
1.79
%
$
248
2.75
%
12,934
30.88
10,160
27.31
5,385
23.34
963
8.31
133
1.48
1,670
3.99
989
2.66
658
2.85
n/a
n/a
n/a
n/a
10,876
25.97
6,017
16.18
3,947
17.11
2,919
25.19
3,176
35.23
2,045
4.88
1,581
4.25
742
3.22
441
3.81
336
3.73
2,381
5.68
4,227
11.36
4,341
18.81
2,077
17.92
1,378
15.28
161
0.38
204
0.55
203
0.88
151
1.30
289
3.20
34,715
82.88
27,785
74.69
16,658
72.20
6,758
58.32
5,560
61.67
3,576
8.54
5,152
13.85
4,339
18.81
3,194
27.56
2,162
23.98
3,137
7.49
3,567
9.59
1,465
6.35
1,083
9.35
588
6.52
126
0.30
291
0.78
223
0.97
218
1.88
217
2.41
331
0.79
405
1.09
386
1.67
335
2.89
489
5.42
7,170
17.12
9,415
25.31
6,413
27.80
4,830
41.68
3,456
38.33
41,885
100.00
%
37,200
100.00
%
23,071
100.00
%
11,588
100.00
%
9,016
100.00
%
1,188
1,487
421
518
397
$
43,073
$
38,687
$
23,492
$
12,106
$
9,413
(1)
December 31, 2010 is presented
in accordance with new consolidation guidance. Prior periods
have not been restated.
(2)
Includes allowance for U.S. small
business commercial loans of $1.5 billion,
$2.4 billion, $2.4 billion, $1.4 billion and
$578 million at December 31, 2010, 2009, 2008, 2007
and 2006, respectively.
(3)
Includes allowance for loan and
lease losses for impaired commercial loans of $1.1 billion,
$1.2 billion, $691 million, $123 million and
$43 million at December 31, 2010, 2009, 2008, 2007 and
2006, respectively. Included in the $1.1 billion at
December 31, 2010 is $445 million related to U.S.
small business commercial renegotiated TDR loans.
(4)
Amounts for 2010 and 2009 include
the Merrill Lynch acquisition. The majority of the increase from
December 31, 2008 relates to the fair value of the acquired
Merrill Lynch unfunded lending commitments, excluding
commitments accounted for under the fair value option.
(5)
Includes $6.4 billion,
$3.9 billion and $750 million related to PCI loans at
December 31, 2010, 2009 and 2008, respectively.
December 31, 2010
Due After
One Year
Due in One
Through
Due After
(Dollars in millions)
Year or Less
Five Years
Five Years
Total
$
62,325
$
84,412
$
45,141
$
191,878
21,097
21,084
4,777
46,958
31,012
5,610
959
37,581
$
114,434
$
111,106
$
50,877
$
276,417
41.4
%
40.2
%
18.4
%
100
%
$
12,164
$
25,619
98,942
25,258
$
111,106
$
50,877
(1)
Loan maturities are based on the
remaining maturities under contractual terms.
(2)
Includes loans accounted for under
the fair value option.
(3)
Loan maturities include other
consumer, commercial real estate and
non-U.S.
commercial loans.
Table of Contents
December 31, 2010
Asset
Liability
(Dollars in millions)
Positions
Positions
$
5,036
$
3,758
17,785
17,785
22,821
21,543
(15,531
)
(14,899
)
6,240
6,734
1,999
2,055
15,529
15,433
(10,756
)
(10,756
)
$
4,773
$
4,677
December 31, 2010
Asset
Liability
(Dollars in millions)
Positions
Positions
$
9,262
$
9,453
4,631
4,395
659
682
977
903
15,529
15,433
(10,756
)
(10,756
)
$
4,773
$
4,677
Table of Contents
2010 Quarters
2009 Quarters
(Dollars in millions, except per
share information)
Fourth
Third
Second
First
Fourth
Third
Second
First
$
12,439
$
12,435
$
12,900
$
13,749
$
11,559
$
11,423
$
11,630
$
12,497
9,959
14,265
16,253
18,220
13,517
14,612
21,144
23,261
22,398
26,700
29,153
31,969
25,076
26,035
32,774
35,758
5,129
5,396
8,105
9,805
10,110
11,705
13,375
13,380
2,000
10,400
370
421
508
521
533
594
829
765
18,494
16,395
16,745
17,254
15,852
15,712
16,191
16,237
(3,595
)
(5,912
)
3,795
4,389
(1,419
)
(1,976
)
2,379
5,376
(2,351
)
1,387
672
1,207
(1,225
)
(975
)
(845
)
1,129
(1,244
)
(7,299
)
3,123
3,182
(194
)
(1,001
)
3,224
4,247
(1,565
)
(7,647
)
2,783
2,834
(5,196
)
(2,241
)
2,419
2,814
10,036,575
9,976,351
9,956,773
9,177,468
8,634,565
8,633,834
7,241,515
6,370,815
10,036,575
9,976,351
10,029,776
10,005,254
8,634,565
8,633,834
7,269,518
6,431,027
n/m
n/m
0.50
%
0.51
%
n/m
n/m
0.53
%
0.68
%
n/m
n/m
0.20
0.21
0.26
%
0.20
%
0.28
0.28
n/m
n/m
5.18
5.73
n/m
n/m
5.59
7.10
n/m
n/m
9.19
9.79
n/m
n/m
12.68
16.15
n/m
n/m
8.98
9.55
n/m
n/m
8.86
12.42
10.08
%
9.85
%
9.85
9.80
10.38
11.40
11.29
10.32
9.94
9.83
9.36
9.14
10.31
10.67
10.01
9.08
n/m
n/m
3.63
3.57
n/m
n/m
3.56
2.28
$
(0.16
)
$
(0.77
)
$
0.28
$
0.28
$
(0.60
)
$
(0.26
)
$
0.33
$
0.44
(0.16
)
(0.77
)
0.27
0.28
(0.60
)
(0.26
)
0.33
0.44
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
20.99
21.17
21.45
21.12
21.48
22.99
22.71
25.98
12.98
12.91
12.14
11.70
11.94
12.00
11.66
10.88
$
13.34
$
13.10
$
14.37
$
17.85
$
15.06
$
16.92
$
13.20
$
6.82
13.56
15.67
19.48
18.04
18.59
17.98
14.17
14.33
10.95
12.32
14.37
14.45
14.58
11.84
7.05
3.14
$
134,536
$
131,442
$
144,174
$
179,071
$
130,273
$
146,363
$
114,199
$
43,654
$
940,614
$
934,860
$
967,054
$
991,615
$
905,913
$
930,255
$
966,105
$
994,121
2,370,258
2,379,397
2,494,432
2,516,590
2,431,024
2,398,201
2,425,377
2,519,134
1,007,738
973,846
991,615
981,015
995,160
989,295
974,892
964,081
465,875
485,588
497,469
513,634
445,440
449,974
444,131
446,975
218,728
215,911
215,468
200,380
197,123
197,230
173,497
160,739
235,525
233,978
233,461
229,891
250,599
255,983
242,867
228,766
$
43,073
$
44,875
$
46,668
$
48,356
$
38,687
$
37,399
$
35,777
$
31,150
32,664
34,556
35,598
35,925
35,747
33,825
30,982
25,632
4.47
%
4.69
%
4.75
%
4.82
%
4.16
%
3.95
%
3.61
%
3.00
%
136
135
137
139
111
112
116
122
116
118
121
124
99
101
108
115
$
6,783
$
7,197
$
9,557
$
10,797
$
8,421
$
9,624
$
8,701
$
6,942
2.87
%
3.07
%
3.98
%
4.44
%
3.71
%
4.13
%
3.64
%
2.85
%
3.27
3.47
3.48
3.46
3.75
3.51
3.12
2.47
3.48
3.71
3.73
3.69
3.98
3.72
3.31
2.64
1.56
1.53
1.18
1.07
1.11
0.94
0.97
1.03
8.60
%
8.45
%
8.01
%
7.60
%
7.81
%
7.25
%
6.90
%
4.49
%
11.24
11.16
10.67
10.23
10.40
12.46
11.93
10.09
15.77
15.65
14.77
14.47
14.66
16.69
15.99
14.03
7.21
7.21
6.68
6.44
6.88
8.36
8.17
7.07
6.75
6.54
6.14
6.02
6.40
7.51
7.37
6.42
5.99
5.74
5.35
5.22
5.56
4.80
4.66
3.13
(1)
Excludes merger and restructuring
charges and goodwill impairment charges.
(2)
Calculated as total net income for
four consecutive quarters divided by average assets for the
period.
(3)
Tangible equity ratios and tangible
book value per share of common stock are non-GAAP measures.
Other companies may define or calculate these measures
differently. For additional information on these ratios, see
Supplemental Financial Data beginning on page 36 and for
corresponding reconciliations to GAAP financial measures, see
Table XV.
(4)
For more information on the impact
of the PCI loan portfolio on asset quality, see Consumer
Portfolio Credit Risk Management beginning on page 72 and
Commercial Portfolio Credit Risk Management beginning on
page 83.
(5)
Includes the allowance for loan and
lease losses and the reserve for unfunded lending commitments.
(6)
Balances and ratios do not include
loans accounted for under the fair value option. For additional
exclusions on nonperforming loans, leases and foreclosed
properties, see Nonperforming Consumer Loans and Foreclosed
Properties Activity beginning on page 81 and corresponding
Table 33 and Nonperforming Commercial Loans, Leases and
Foreclosed Properties Activity and corresponding Table 41 on
page 89.
(7)
Allowance for loan and lease losses
includes $22.9 billion, $23.7 billion,
$24.3 billion, $26.2 billion, $17.7 billion,
$17.2 billion, $16.5 billion and $14.9 billion
allocated to products that are excluded from nonperforming
loans, leases and foreclosed properties at December 31,
2010, September 30, 2010, June 30, 2010,
March 31, 2010, December 31, 2009, September 30,
2009, June 30, 2009, and March 31, 2009, respectively.
Table of Contents
(Dollars in millions, except per
share information)
2010
2009
2008
2007
2006
$
51,523
$
47,109
$
45,360
$
34,441
$
34,594
1,170
1,301
1,194
1,749
1,224
$
52,693
$
48,410
$
46,554
$
36,190
$
35,818
$
110,220
$
119,643
$
72,782
$
66,833
$
72,776
1,170
1,301
1,194
1,749
1,224
$
111,390
$
120,944
$
73,976
$
68,582
$
74,000
$
83,108
$
66,713
$
41,529
$
37,524
$
35,793
(12,400
)
$
70,708
$
66,713
$
41,529
$
37,524
$
35,793
$
915
$
(1,916
)
$
420
$
5,942
$
10,840
1,170
1,301
1,194
1,749
1,224
$
2,085
$
(615
)
$
1,614
$
7,691
$
12,064
$
(2,238
)
$
6,276
$
4,008
$
14,982
$
21,133
12,400
$
10,162
$
6,276
$
4,008
$
14,982
$
21,133
$
(3,595
)
$
(2,204
)
$
2,556
$
14,800
$
21,111
12,400
$
8,805
$
(2,204
)
$
2,556
$
14,800
$
21,111
$
212,681
$
182,288
$
141,638
$
133,555
$
129,773
2,900
1,213
(82,596
)
(86,034
)
(79,827
)
(69,333
)
(66,040
)
(10,985
)
(12,220
)
(9,502
)
(9,566
)
(10,324
)
3,306
3,831
1,782
1,845
1,809
$
125,306
$
89,078
$
54,091
$
56,501
$
55,218
$
233,231
$
244,645
$
164,831
$
136,662
$
130,463
(82,596
)
(86,034
)
(79,827
)
(69,333
)
(66,040
)
(10,985
)
(12,220
)
(9,502
)
(9,566
)
(10,324
)
3,306
3,831
1,782
1,845
1,809
$
142,956
$
150,222
$
77,284
$
59,608
$
55,908
$
211,686
$
194,236
$
139,351
$
142,394
$
132,421
19,244
(73,861
)
(86,314
)
(81,934
)
(77,530
)
(65,662
)
(9,923
)
(12,026
)
(8,535
)
(10,296
)
(9,422
)
3,036
3,498
1,854
1,855
1,799
$
130,938
$
118,638
$
50,736
$
56,423
$
59,136
$
228,248
$
231,444
$
177,052
$
146,803
$
135,272
(73,861
)
(86,314
)
(81,934
)
(77,530
)
(65,662
)
(9,923
)
(12,026
)
(8,535
)
(10,296
)
(9,422
)
3,036
3,498
1,854
1,855
1,799
$
147,500
$
136,602
$
88,437
$
60,832
$
61,987
$
2,264,909
$
2,230,232
$
1,817,943
$
1,715,746
$
1,459,737
(73,861
)
(86,314
)
(81,934
)
(77,530
)
(65,662
)
(9,923
)
(12,026
)
(8,535
)
(10,296
)
(9,422
)
3,036
3,498
1,854
1,855
1,799
$
2,184,161
$
2,135,390
$
1,729,328
$
1,629,775
$
1,386,452
10,085,155
8,650,244
5,017,436
4,437,885
4,458,151
1,286,000
10,085,155
9,936,244
5,017,436
4,437,885
4,458,151
(1)
Presents reconciliations of
non-GAAP measures to GAAP financial measures. We believe the use
of these non-GAAP measures provides additional clarity in
assessing the results of the Corporation. Other companies may
define or calculate non-GAAP measures differently. For more
information on non-GAAP measures and ratios we use in assessing
the results of the Corporation, see Supplemental Financial Data
beginning on page 36.
(2)
On February 24, 2010, the
common equivalent shares converted into common shares.
Table of Contents
2010 Quarters
2009 Quarters
(Dollars in millions, except per
share information)
Fourth
Third
Second
First
Fourth
Third
Second
First
$
12,709
$
12,717
$
13,197
$
14,070
$
11,896
$
11,753
$
11,942
$
12,819
22,668
26,982
29,450
32,290
25,413
26,365
33,086
36,080
2.69
%
2.72
%
2.77
%
2.93
%
2.62
%
2.61
%
2.64
%
2.70
%
92.04
100.87
58.58
55.05
64.47
61.84
51.44
47.12
$
0.04
$
0.27
0.04
0.27
83.22
%
62.33
%
0.13
0.52
0.43
0.39
0.79
5.06
1.27
8.67
1.96
8.54
(1)
Supplemental financial data on a
FTE basis and performance measures and ratios excluding the
impact of goodwill impairment charges are non-GAAP measures.
Other companies may define or calculate these measures
differently. For additional information on these performance
measures and ratios, see Supplemental Financial Data beginning
on page 36 and for corresponding reconciliations to GAAP
financial measures, see Table XV.
(2)
Calculation includes fees earned on
overnight deposits placed with the Federal Reserve of
$63 million, $107 million, $106 million and
$92 million for the fourth, third, second and first
quarters of 2010, and $130 million, $107 million,
$92 million and $50 million for the fourth, third,
second and first quarters of 2009, respectively.
(3)
Performance ratios are calculated
excluding the impact of the goodwill impairment charges of
$10.4 billion recorded during the third quarter of 2010 and
$2.0 billion recorded during the fourth quarter of 2010.
(4)
Calculated as total net income for
four consecutive quarters divided by average assets for the
period.
Table of Contents
2010 Quarters
2009 Quarters
(Dollars in millions, except per
share information)
Fourth
Third
Second
First
Fourth
Third
Second
First
$
12,439
$
12,435
$
12,900
$
13,749
$
11,559
$
11,423
$
11,630
$
12,497
270
282
297
321
337
330
312
322
$
12,709
$
12,717
$
13,197
$
14,070
$
11,896
$
11,753
$
11,942
$
12,819
$
22,398
$
26,700
$
29,153
$
31,969
$
25,076
$
26,035
$
32,774
$
35,758
270
282
297
321
337
330
312
322
$
22,668
$
26,982
$
29,450
$
32,290
$
25,413
$
26,365
$
33,086
$
36,080
$
20,864
$
27,216
$
17,253
$
17,775
$
16,385
$
16,306
$
17,020
$
17,002
(2,000
)
(10,400
)
$
18,864
$
16,816
$
17,253
$
17,775
$
16,385
$
16,306
$
17,020
$
17,002
$
(2,351
)
$
1,387
$
672
$
1,207
$
(1,225
)
$
(975
)
$
(845
)
$
1,129
270
282
297
321
337
330
312
322
$
(2,081
)
$
1,669
$
969
$
1,528
$
(888
)
$
(645
)
$
(533
)
$
1,451
$
(1,244
)
$
(7,299
)
$
3,123
$
3,182
$
(194
)
$
(1,001
)
$
3,224
$
4,247
2,000
10,400
$
756
$
3,101
$
3,123
$
3,182
$
(194
)
$
(1,001
)
$
3,224
$
4,247
$
(1,565
)
$
(7,647
)
$
2,783
$
2,834
$
(5,196
)
$
(2,241
)
$
2,419
$
2,814
2,000
10,400
$
435
$
2,753
$
2,783
$
2,834
$
(5,196
)
$
(2,241
)
$
2,419
$
2,814
$
218,728
$
215,911
$
215,468
$
200,380
$
197,123
$
197,230
$
173,497
$
160,739
11,760
4,811
(75,584
)
(82,484
)
(86,099
)
(86,334
)
(86,053
)
(86,170
)
(87,314
)
(84,584
)
(10,211
)
(10,629
)
(11,216
)
(11,906
)
(12,556
)
(13,223
)
(13,595
)
(9,461
)
3,121
3,214
3,395
3,497
3,712
3,725
3,916
3,977
$
136,054
$
126,012
$
121,548
$
117,397
$
107,037
$
101,562
$
76,504
$
70,671
(1)
Presents reconciliations of
non-GAAP measures to GAAP financial measures. We believe the use
of these non-GAAP measures provides additional clarity in
assessing the results of the Corporation. Other companies may
define or calculate non-GAAP measures differently. For more
information on non-GAAP measures and ratios we use in assessing
the results of the Corporation, see Supplemental Financial Data
beginning on page 36.
(2)
On February 24, 2010, the
common equivalent shares converted into common shares.
Table of Contents
2010 Quarters
2009 Quarters
(Dollars in millions, except per
share information)
Fourth
Third
Second
First
Fourth
Third
Second
First
$ 235,525
$ 233,978
$ 233,461
$ 229,891
$
250,599
$
255,983
$
242,867
$
228,766
(75,584
)
(82,484
)
(86,099
)
(86,334
)
(86,053
)
(86,170
)
(87,314
)
(84,584
)
(10,211
)
(10,629
)
(11,216
)
(11,906
)
(12,556
)
(13,223
)
(13,595
)
(9,461
)
3,121
3,214
3,395
3,497
3,712
3,725
3,916
3,977
$ 152,851
$ 144,079
$ 139,541
$ 135,148
$
155,702
$
160,315
$
145,874
$
138,698
$ 211,686
$ 212,391
$ 215,181
$ 211,859
$
194,236
$
198,843
$
196,492
$
166,272
19,244
(73,861
)
(75,602
)
(85,801
)
(86,305
)
(86,314
)
(86,009
)
(86,246
)
(86,910
)
(9,923
)
(10,402
)
(10,796
)
(11,548
)
(12,026
)
(12,715
)
(13,245
)
(13,703
)
3,036
3,123
3,215
3,396
3,498
3,714
3,843
3,958
$ 130,938
$ 129,510
$ 121,799
$ 117,402
$
118,638
$
103,833
$
100,844
$
69,617
$ 228,248
$ 230,495
$ 233,174
$ 229,823
$
231,444
$
257,683
$
255,152
$
239,549
(73,861
)
(75,602
)
(85,801
)
(86,305
)
(86,314
)
(86,009
)
(86,246
)
(86,910
)
(9,923
)
(10,402
)
(10,796
)
(11,548
)
(12,026
)
(12,715
)
(13,245
)
(13,703
)
3,036
3,123
3,215
3,396
3,498
3,714
3,843
3,958
$ 147,500
$ 147,614
$ 139,792
$ 135,366
$
136,602
$
162,673
$
159,504
$
142,894
$2,264,909
$2,339,660
$2,368,384
$2,344,634
$
2,230,232
$
2,259,891
$
2,260,853
$
2,321,961
(73,861
)
(75,602
)
(85,801
)
(86,305
)
(86,314
)
(86,009
)
(86,246
)
(86,910
)
(9,923
)
(10,402
)
(10,796
)
(11,548
)
(12,026
)
(12,715
)
(13,245
)
(13,703
)
3,036
3,123
3,215
3,396
3,498
3,714
3,843
3,958
$2,184,161
$2,256,779
$2,275,002
$2,250,177
$
2,135,390
$
2,164,881
$
2,165,205
$
2,225,306
10,085,155
10,033,705
10,033,017
10,032,001
8,650,244
8,650,314
8,651,459
6,400,950
1,286,000
10,085,155
10,033,705
10,033,017
10,032,001
9,936,244
8,650,314
8,651,459
6,400,950
Table of Contents
Fourth Quarter 2010
Third Quarter 2010
Interest
Interest
Average
Income/
Yield/
Average
Income/
Yield/
(Dollars in millions)
Balance
Expense
Rate
Balance
Expense
Rate
$
28,141
$
75
1.07
%
$
23,233
$
86
1.45
%
243,589
486
0.79
254,820
441
0.69
216,003
1,710
3.15
210,529
1,692
3.20
341,867
3,065
3.58
328,097
2,646
3.22
254,051
2,857
4.50
237,292
2,797
4.71
139,772
1,410
4.01
143,083
1,457
4.05
13,297
118
3.57
13,632
122
3.56
112,673
3,040
10.70
115,251
3,113
10.72
27,457
815
11.77
27,047
875
12.84
91,549
1,088
4.72
95,692
1,130
4.68
2,796
45
6.32
2,955
47
6.35
641,595
9,373
5.81
634,952
9,541
5.98
193,608
1,894
3.88
192,306
2,040
4.21
51,617
432
3.32
55,660
452
3.22
21,363
250
4.69
21,402
255
4.78
32,431
289
3.53
30,540
282
3.67
299,019
2,865
3.81
299,908
3,029
4.01
940,614
12,238
5.18
934,860
12,570
5.35
113,325
923
3.23
112,280
949
3.36
1,883,539
18,497
3.90
1,863,819
18,384
3.93
136,967
63
155,784
107
349,752
359,794
$
2,370,258
$
2,379,397
$
37,145
$
35
0.36
%
$
37,008
$
36
0.39
%
464,531
333
0.28
442,906
359
0.32
124,855
338
1.07
132,687
377
1.13
16,334
47
1.16
17,326
57
1.30
642,865
753
0.46
629,927
829
0.52
16,827
38
0.91
17,431
38
0.86
1,560
2
0.42
2,055
2
0.36
58,746
101
0.69
54,373
81
0.59
77,133
141
0.73
73,859
121
0.65
719,998
894
0.49
703,786
950
0.54
369,738
1,142
1.23
391,148
848
0.86
81,313
561
2.74
95,265
635
2.65
465,875
3,254
2.78
485,588
3,341
2.74
1,636,924
5,851
1.42
1,675,787
5,774
1.37
287,740
270,060
210,069
199,572
235,525
233,978
$
2,370,258
$
2,379,397
2.48
%
2.56
%
0.18
0.13
$
12,646
2.66
%
$
12,610
2.69
%
(1)
Fees earned on overnight deposits
placed with the Federal Reserve, which were included in time
deposits placed and other short-term investments in prior
periods, have been reclassified to cash and cash equivalents,
consistent with the Corporations Consolidated Balance
Sheet presentation of these deposits. Net interest income and
net interest yield in the table are calculated excluding these
fees.
(2)
Yields on AFS debt securities are
calculated based on fair value rather than the cost basis. The
use of fair value does not have a material impact on net
interest yield.
(3)
Nonperforming loans are included in
the respective average loan balances. Income on these
nonperforming loans is recognized on a cash basis. Purchased
credit-impaired loans were written down to fair value upon
acquisition and accrete interest income over the remaining life
of the loan.
(4)
Includes
non-U.S.
residential mortgage loans of $96 million,
$502 million, $506 million and $538 million in
the fourth, third, second and first quarters of 2010, and
$550 million in the fourth quarter of 2009, respectively.
(5)
Includes
non-U.S.
consumer loans of $7.9 billion, $7.7 billion,
$7.7 billion and $8.1 billion in the fourth, third,
second and first quarters of 2010, and $8.6 billion in the
fourth quarter of 2009, respectively.
(6)
Includes consumer finance loans of
$2.0 billion, $2.0 billion, $2.1 billion and
$2.2 billion in the fourth, third, second and first
quarters of 2010, and $2.3 billion in the fourth quarter of
2009, respectively; other
non-U.S.
consumer loans of $791 million, $788 million,
$679 million and $664 million in the fourth, third,
second and first quarters of 2010, and $689 million in the
fourth quarter of 2009, respectively; and consumer overdrafts of
$34 million, $123 million, $155 million and
$132 million in the fourth, third, second and first
quarters of 2010, and $192 million in the fourth quarter of
2009, respectively.
(7)
Includes U.S. commercial real
estate loans of $49.0 billion, $53.1 billion,
$61.6 billion and $65.6 billion in the fourth, third,
second and first quarters of 2010, and $68.2 billion in the
fourth quarter of 2009, respectively; and
non-U.S.
commercial real estate loans of $2.6 billion,
$2.5 billion, $2.6 billion and $3.0 billion in
the fourth, third, second and first quarters of 2010, and
$3.1 billion in the fourth quarter of 2009, respectively.
(8)
Interest income includes the impact
of interest rate risk management contracts, which decreased
interest income on the underlying assets by $29 million,
$639 million, $479 million and $272 million in
the fourth, third, second and first quarters of 2010 and
$248 million in the fourth quarter of 2009, respectively.
Interest expense includes the impact of interest rate risk
management contracts, which decreased interest expense on the
underlying liabilities by $672 million, $1.0 billion,
$829 million and $970 million in the fourth, third,
second and first quarters of 2010, and $1.1 billion in the
fourth quarter of 2009, respectively. For further information on
interest rate contracts, see Interest Rate Risk Management for
Nontrading Activities beginning on page 103.
Table of Contents
Second Quarter 2010
First Quarter 2010
Fourth Quarter 2009
Interest
Interest
Interest
Average
Income/
Yield/
Average
Income/
Yield/
Average
Income/
Yield/
(Dollars in millions)
Balance
Expense
Rate
Balance
Expense
Rate
Balance
Expense
Rate
$
30,741
$
70
0.93
%
$
27,600
$
61
0.89
%
$
28,566
$
90
1.25
%
263,564
457
0.70
266,070
448
0.68
244,914
327
0.53
213,927
1,853
3.47
214,542
1,795
3.37
218,787
1,800
3.28
314,299
2,966
3.78
311,136
3,173
4.09
279,231
2,921
4.18
247,715
2,982
4.82
243,833
3,100
5.09
236,883
3,108
5.24
148,219
1,537
4.15
152,536
1,586
4.20
150,704
1,613
4.26
13,972
134
3.84
14,433
153
4.24
15,152
174
4.58
118,738
3,121
10.54
125,353
3,370
10.90
49,213
1,336
10.77
27,706
854
12.37
29,872
906
12.30
21,680
605
11.08
98,549
1,233
5.02
100,920
1,302
5.23
98,938
1,361
5.46
2,958
46
6.32
3,002
48
6.35
3,177
50
6.33
657,857
9,907
6.03
669,949
10,465
6.30
575,747
8,247
5.70
195,144
2,005
4.12
202,662
1,970
3.94
207,050
2,090
4.01
64,218
541
3.38
68,526
575
3.40
71,352
595
3.31
21,271
261
4.90
21,675
304
5.60
21,769
273
5.04
28,564
256
3.59
28,803
264
3.72
29,995
287
3.78
309,197
3,063
3.97
321,666
3,113
3.92
330,166
3,245
3.90
967,054
12,970
5.38
991,615
13,578
5.53
905,913
11,492
5.05
121,205
994
3.29
122,097
1,053
3.50
130,487
1,222
3.72
1,910,790
19,310
4.05
1,933,060
20,108
4.19
1,807,898
17,852
3.93
209,686
106
196,911
92
230,618
130
373,956
386,619
392,508
$
2,494,432
$
2,516,590
$
2,431,024
$
37,290
$
43
0.46
%
$
35,126
$
43
0.50
%
$
33,749
$
54
0.63
%
442,262
372
0.34
416,110
341
0.33
392,212
388
0.39
147,425
441
1.20
166,189
567
1.38
192,779
835
1.72
17,355
59
1.36
19,763
63
1.31
31,758
82
1.04
644,332
915
0.57
637,188
1,014
0.65
650,498
1,359
0.83
19,751
36
0.72
18,424
32
0.71
16,132
30
0.75
4,214
3
0.28
5,626
3
0.22
5,779
4
0.26
52,195
77
0.60
54,885
73
0.53
55,685
79
0.56
76,160
116
0.61
78,935
108
0.55
77,596
113
0.58
720,492
1,031
0.57
716,123
1,122
0.64
728,094
1,472
0.80
454,051
891
0.79
508,332
818
0.65
450,538
658
0.58
100,021
715
2.87
90,134
660
2.97
83,118
591
2.82
497,469
3,582
2.88
513,634
3,530
2.77
445,440
3,365
3.01
1,772,033
6,219
1.41
1,828,223
6,130
1.35
1,707,190
6,086
1.42
271,123
264,892
267,066
217,815
193,584
206,169
233,461
229,891
250,599
$
2,494,432
$
2,516,590
$
2,431,024
2.64
%
2.84
%
2.51
%
0.10
0.08
0.08
$
13,091
2.74
%
$
13,978
2.92
%
$
11,766
2.59
%
Table of Contents
Table of Contents
Table of Contents
Asset-backed securities
Available-for-sale
Asset and liability management
Asset Liability Market Risk Committee
Adjustable-rate mortgage
Auction rate securities
Basis points
Collateralized debt obligation
Common Equivalent Securities
Commercial mortgage-backed securities
Collateralized mortgage obligation
Community Reinvestment Act
Credit Risk Committee
Financial Accounting Standards Board
Federal Deposit Insurance Corporation
Federal Financial Institutions Examination Council
Federal Housing Administration
Freddie Mac
Fixed income, currencies and commodities
Fair Isaac Corporation (credit score)
Fannie Mae
Financial Services Authority
Fully taxable-equivalent
Generally accepted accounting principles in the United States of
America
Government National Mortgage Association
Global Markets Risk Committee
Government-sponsored enterprise
Home Affordable Foreclosure Alternatives
Initial public offering
Loans held-for-sale
London InterBank Offered Rate
Mortgage-backed securities
Managements Discussion and Analysis of Financial Condition
and Results of Operations
Metropolitan statistical area
Other comprehensive income
Over-the-counter
Other-than-temporary impairment
Purchased credit-impaired
Payment protection insurance
Qualifying special purpose entity
Residential mortgage-backed securities
Risk Oversight Committee
Return on average tangible shareholders equity
Standby letters of credit
Securities and Exchange Commission
Special purpose entity
Veterans Affairs
Variable interest entity
Table of Contents
Over Financial Reporting
Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Table of Contents
February 25, 2011
Table of Contents
Year Ended December 31
(Dollars in millions, except per
share information)
2010
2009
2008
$
50,996
$
48,703
$
56,017
11,667
12,947
13,146
1,832
2,894
3,313
6,841
7,944
9,057
4,161
5,428
4,151
75,497
77,916
85,684
3,997
7,807
15,250
3,699
5,512
12,362
2,571
2,075
2,774
13,707
15,413
9,938
23,974
30,807
40,324
51,523
47,109
45,360
8,108
8,353
13,314
9,390
11,038
10,316
11,622
11,919
4,972
5,520
5,551
2,263
5,260
10,014
539
10,054
12,235
(5,911
)
2,734
8,791
4,087
2,066
2,760
1,833
2,526
4,723
1,124
2,384
(14
)
(1,654
)
(2,174
)
(3,508
)
(3,461
)
1,207
672
(967
)
(2,836
)
(3,461
)
58,697
72,534
27,422
110,220
119,643
72,782
28,435
48,570
26,825
35,149
31,528
18,371
4,716
4,906
3,626
2,452
2,455
1,655
1,963
1,933
2,368
2,695
2,281
1,592
1,731
1,978
1,834
2,544
2,500
2,546
1,416
1,420
1,106
16,222
14,991
7,496
12,400
1,820
2,721
935
83,108
66,713
41,529
(1,323
)
4,360
4,428
915
(1,916
)
420
$
(2,238
)
$
6,276
$
4,008
1,357
8,480
1,452
$
(3,595
)
$
(2,204
)
$
2,556
$
(0.37
)
$
(0.29
)
$
0.54
(0.37
)
(0.29
)
0.54
0.04
0.04
2.24
9,790,472
7,728,570
4,592,085
9,790,472
7,728,570
4,596,428
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
108,427
$
121,339
26,433
24,202
209,616
189,933
194,671
182,206
73,000
87,622
337,627
301,601
427
9,840
338,054
311,441
940,440
900,128
(41,885
)
(37,200
)
898,555
862,928
14,306
15,500
15,177
19,774
73,861
86,314
9,923
12,026
35,058
43,874
85,704
81,996
182,124
191,077
$
2,264,909
$
2,230,232
$
19,627
2,027
2,601
145,469
(8,935
)
136,534
1,953
7,086
$
169,828
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
285,200
$
269,615
645,713
640,789
6,101
5,489
73,416
75,718
1,010,430
991,611
245,359
255,185
71,985
65,432
55,914
50,661
59,962
69,524
144,580
127,854
448,431
438,521
2,036,661
1,998,788
16,562
37,208
150,905
128,734
60,849
71,233
(66
)
(5,619
)
(2
)
(112
)
228,248
231,444
$
2,264,909
$
2,230,232
$
6,742
71,013
9,141
$
86,896
Table of Contents
Common Stock and
Additional Paid-in
Capital
Accumulated
Other
Total
Preferred
Retained
Comprehensive
Shareholders
Comprehensive
(Dollars in millions, shares in
thousands)
Stock
Shares
Amount
Earnings
Income (Loss)
Other
Equity
Income (Loss)
$
4,409
4,437,885
$
60,328
$
81,393
$
1,129
$
(456
)
$
146,803
4,008
4,008
$
4,008
(8,557
)
(8,557
)
(8,557
)
944
944
944
(3,341
)
(3,341
)
(3,341
)
(1,000
)
(1,000
)
(1,000
)
(10,256
)
(10,256
)
(1,272
)
(1,272
)
33,242
1,500
34,742
106,776
4,201
4,201
455,000
9,883
9,883
17,775
854
43
897
50
(50
)
37,701
5,017,436
76,766
73,823
(10,825
)
(413
)
177,052
(7,946
)
71
(71
)
(71
)
6,276
6,276
6,276
3,593
3,593
3,593
923
923
923
550
550
550
211
211
211
(326
)
(326
)
(4,537
)
(4,537
)
26,800
3,200
30,000
(41,014
)
(3,986
)
(45,000
)
19,244
19,244
8,605
1,375,476
20,504
29,109
1,250,000
13,468
13,468
(14,797
)
999,935
14,221
576
7,397
575
308
883
669
(664
)
(7
)
(2
)
37,208
8,650,244
128,734
71,233
(5,619
)
(112
)
231,444
11,482
(6,154
)
(116
)
(6,270
)
(116
)
(229
)
229
229
(2,238
)
(2,238
)
(2,238
)
5,759
5,759
5,759
(701
)
(701
)
(701
)
145
145
145
237
237
237
(405
)
(405
)
(1,357
)
(1,357
)
98,557
1,385
103
1,488
(1,542
)
50,354
1,542
(19,244
)
1,286,000
19,244
140
(1
)
7
146
$
16,562
10,085,155
$
150,905
$
60,849
$
(66
)
$
(2
)
$
228,248
$
3,315
Table of Contents
Year Ended December 31
(Dollars in millions)
2010
2009
2008
$
(2,238
)
$
6,276
$
4,008
28,435
48,570
26,825
12,400
(2,526
)
(4,723
)
(1,124
)
2,181
2,336
1,485
1,731
1,978
1,834
608
370
(5,801
)
20,775
59,822
(16,973
)
5,213
28,553
(6,391
)
14,069
(16,601
)
(8,885
)
1,946
3,150
9,056
82,594
129,731
4,034
(2,154
)
19,081
2,203
(19,683
)
31,369
53,723
100,047
164,155
120,972
70,868
59,949
26,068
(199,159
)
(185,145
)
(184,232
)
11
2,771
741
(100
)
(3,914
)
(840
)
8,046
7,592
52,455
(2,550
)
21,257
(69,574
)
(987
)
(2,240
)
(2,098
)
3,107
1,997
1,187
31,804
6,650
2,807
9,400
9,249
(10,185
)
(30,347
)
157,925
(2,930
)
36,598
10,507
14,830
(9,826
)
(62,993
)
(34,529
)
(31,698
)
(126,426
)
(33,033
)
52,215
67,744
43,782
(110,919
)
(101,207
)
(35,072
)
49,244
34,742
(45,000
)
13,468
10,127
(1,762
)
(4,863
)
(11,528
)
42
5
(42
)
(56
)
(65,387
)
(199,568
)
(10,695
)
228
394
(83
)
(12,912
)
88,482
(9,674
)
121,339
32,857
42,531
$
108,427
$
121,339
$
32,857
$
21,166
$
37,602
$
36,387
1,465
2,964
4,816
(7,783
)
(31
)
(116
)
The Corporation securitized $2.4 billion,
$14.0 billion and $26.1 billion of residential
mortgage loans into mortgage-backed securities which were
retained by the Corporation during 2010, 2009 and 2008,
respectively.
During 2009, the Corporation exchanged credit card loans of
$8.5 billion and the related allowance for loan and lease
losses of $750 million for a $7.8 billion
held-to-maturity
debt security that was issued by the Corporations
U.S. credit card securitization trust and retained by the
Corporation.
The acquisition-date fair values of non-cash assets acquired and
liabilities assumed in the Merrill Lynch & Co., Inc.
(Merrill Lynch) acquisition were $619.1 billion and
$626.8 billion.
Approximately 1.4 billion shares of common stock valued at
approximately $20.5 billion and 376 thousand shares of
preferred stock valued at approximately $8.6 billion were
issued in connection with the Merrill Lynch acquisition.
The acquisition-date fair values of non-cash assets acquired and
liabilities assumed in the Countrywide Financial Corporation
(Countrywide) acquisition were $157.4 billion and
$157.8 billion.
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Level 1
Unadjusted quoted prices in active markets for identical assets
or liabilities. Level 1 assets and liabilities include debt
and equity securities and derivative contracts that are traded
in an active exchange market, as well as certain
U.S. Treasury securities that are highly liquid and are
actively traded in
over-the-counter
markets.
Level 2
Observable inputs other than Level 1 prices, such as quoted
prices for similar assets or liabilities, quoted prices in
markets that are not active, or other inputs that are observable
or can be corroborated by observable market data for
substantially the full term of the assets or liabilities.
Level 2 assets and liabilities include debt securities with
quoted prices that are traded less frequently than
exchange-traded instruments and derivative contracts where value
is determined using a pricing model with inputs that are
observable in the market or can be derived principally from or
corroborated by observable market data. This category generally
includes U.S. government and agency mortgage-backed debt
securities, corporate debt securities, derivative contracts,
residential mortgage loans and certain LHFS.
Level 3
Unobservable inputs that are supported by little or no market
activity and that are significant to the overall fair value of
the assets or liabilities. Level 3 assets and liabilities
include financial instruments for which the determination of
fair value requires significant management judgment or
estimation. The fair value for such assets and liabilities is
generally determined using pricing models, discounted cash flow
methodologies or similar techniques that incorporate the
assumptions a market participant would use in pricing the asset
or liability. This category generally includes certain private
equity investments and other principal investments, retained
residual interests in securitizations, residential MSRs,
asset-backed securities (ABS), highly structured, complex or
long-dated derivative contracts, certain LHFS, IRLCs and certain
CDOs where independent pricing information cannot be obtained
for a significant portion of the underlying assets.
Table of Contents
Table of Contents
(Dollars in billions, except per
share amounts)
1,600
0.8595
1,375
$
14.08
$
19.4
8.6
1.1
$
29.1
19.9
(2.6
)
(2.1
)
(6.1
)
5.4
(0.7
)
16.0
12.5
(5.9
)
6.6
23.9
$
5.2
(1)
The value of the shares of common
stock exchanged with Merrill Lynch shareholders was based upon
the closing price of the Corporations common stock at
December 31, 2008, the last trading day prior to the date
of acquisition.
(2)
Consists of trade name of
$1.5 billion and customer relationship and core deposit
intangibles of $3.9 billion. The amortization life is
10 years for the customer relationship and core deposit
intangibles which are primarily amortized on a straight-line
basis.
Table of Contents
(Dollars in billions)
January 1, 2009
$
138.8
87.7
96.4
70.5
55.9
5.4
195.3
$
650.0
$
98.1
111.6
18.1
72.0
37.9
99.5
188.9
626.1
$
23.9
(Dollars in millions)
2010
2009
2008
$
455
$
1,351
$
138
1,137
1,155
640
228
215
157
$
1,820
$
2,721
$
935
Exit Cost Reserves
Restructuring Reserves
(Dollars in millions)
2010
2009
2010
2009
$
112
$
523
$
403
$
86
n/a
n/a
375
949
(18
)
54
191
(9
)
(24
)
(6
)
(70
)
(387
)
(496
)
(817
)
$
15
$
112
$
336
$
403
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
60,811
$
44,585
49,352
57,009
32,129
33,562
33,523
28,143
18,856
18,907
$
194,671
$
182,206
$
29,340
$
26,519
15,482
18,407
15,813
12,897
11,350
7,609
$
71,985
$
65,432
(1)
Includes $29.7 billion and
$23.5 billion at December 31, 2010 and 2009 of GSE
obligations.
December 31, 2010
Gross Derivative Assets
Gross Derivative Liabilities
Trading
Trading
Derivatives
Derivatives
and
Qualifying
and
Qualifying
Contract/
Economic
Accounting
Economic
Accounting
(Dollars in billions)
Notional
(1)
Hedges
Hedges
(2)
Total
Hedges
Hedges
(2)
Total
$
42,719.2
$
1,193.9
$
14.9
$
1,208.8
$
1,187.9
$
2.2
$
1,190.1
9.939.2
6.0
6.0
4.7
4.7
2,887.7
82.8
82.8
3,026.2
88.0
88.0
630.1
26.5
3.7
30.2
28.5
2.1
30.6
2,652.9
41.3
41.3
44.2
44.2
439.6
13.2
13.2
417.1
13.0
13.0
42.4
1.7
1.7
2.0
2.0
78.8
2.9
2.9
2.1
2.1
242.7
19.4
19.4
193.5
21.5
21.5
90.2
8.8
0.2
9.0
9.3
9.3
413.7
4.1
4.1
2.8
2.8
86.3
6.7
6.7
84.6
6.6
6.6
2,184.7
69.8
69.8
34.0
34.0
26.0
0.9
0.9
0.2
0.2
2,133.5
33.3
33.3
63.2
63.2
22.5
0.5
0.5
0.5
0.5
$
1,518.8
$
18.8
$
1,537.6
$
1,501.5
$
4.3
$
1,505.8
(1,406.3
)
(1,406.3
)
(58.3
)
(43.6
)
$
73.0
$
55.9
(1)
Represents the total
contract/notional amount of derivative assets and liabilities
outstanding.
(2)
Excludes $4.1 billion of
long-term debt designated as a hedge of foreign currency risk.
Table of Contents
December 31, 2009
Gross Derivative Assets
Gross Derivative Liabilities
Trading
Trading
Derivatives
Derivatives
and
Qualifying
and
Qualifying
Contract/
Economic
Accounting
Economic
Accounting
(Dollars in billions)
Notional
(1)
Hedges
Hedges
(2)
Total
Hedges
Hedges
(2)
Total
$
45,261.5
$
1,121.3
$
5.6
$
1,126.9
$
1,105.0
$
0.8
$
1,105.8
11,842.1
7.1
7.1
6.1
6.1
2,865.5
84.1
84.1
2,626.7
84.1
84.1
661.9
23.7
4.6
28.3
27.3
0.5
27.8
1,750.8
24.6
0.3
24.9
25.6
0.1
25.7
383.6
13.0
13.0
355.3
12.7
12.7
58.5
2.0
2.0
2.0
2.0
79.0
3.0
3.0
2.2
2.2
283.4
25.1
0.4
25.5
273.7
27.3
27.3
65.3
6.9
0.1
7.0
6.8
6.8
387.8
10.4
10.4
9.6
9.6
54.9
7.9
7.9
50.9
7.6
7.6
2,800.5
105.5
105.5
45.2
45.2
21.7
1.5
1.5
0.4
0.4
2,788.8
44.1
44.1
98.4
98.4
33.1
1.8
1.8
1.1
1.1
$
1,483.6
$
10.6
$
1,494.2
$
1,459.8
$
1.8
$
1,461.6
(1,355.1
)
(1,355.1
)
(51.5
)
(55.8
)
$
87.6
$
50.7
(1)
Represents the total
contract/notional amount of derivative assets and liabilities
outstanding.
(2)
Excludes $4.4 billion of long-term
debt designated as a hedge of foreign currency risk.
Table of Contents
2010
Hedged
Hedge
(Dollars in millions)
Derivative
Item
Ineffectiveness
$
2,952
$
(3,496
)
$
(544
)
(463
)
130
(333
)
(2,577
)
2,667
90
19
(19
)
$
(69
)
$
(718
)
$
(787
)
2009
$
(4,858
)
$
4,082
$
(776
)
932
(858
)
74
791
(1,141
)
(350
)
(51
)
51
$
(3,186
)
$
2,134
$
(1,052
)
2008
$
4,340
$
(4,143
)
$
197
294
(444
)
(150
)
32
(51
)
(19
)
$
4,666
$
(4,638
)
$
28
(1)
Amounts are recorded in interest
expense on long-term debt.
(2)
Amounts are recorded in interest
income on AFS securities.
(3)
Measurement of ineffectiveness in
2010 includes $7 million compared to $354 million in
2009 of interest costs on short forward contracts. The
Corporation considers this as part of the cost of hedging and it
is offset by the fixed coupon receipt on the AFS security that
is recognized in interest income on securities.
(4)
Amounts are recorded in trading
account profits.
Table of Contents
2010
Hedge
Gains (losses)
Gains (losses)
Ineffectiveness and
Recognized in
in Income
Amounts Excluded
Accumulated OCI
Reclassified from
from Effectiveness
(Dollars in millions, amounts
pre-tax)
on Derivatives
Accumulated OCI
Testing
(1,
2)
$
(1,876
)
$
(410
)
$
(30
)
32
25
11
(97
)
(33
)
186
(226
)
$
(1,755
)
$
(644
)
$
(19
)
$
(482
)
$
$
(315
)
2009
$
502
$
(1,293
)
$
71
72
70
(2
)
(332
)
$
242
$
(1,223
)
$
69
$
(2,997
)
$
$
(142
)
2008
$
(13
)
$
(1,266
)
$
(7
)
243
$
230
$
(1,266
)
$
(7
)
$
2,814
$
$
(192
)
(1)
Gains (losses).
(2)
Amounts related to derivatives
designated as cash flow hedges represent hedge ineffectiveness
and amounts related to net investment hedges represent amounts
excluded from effectiveness testing.
Table of Contents
(Dollars in millions)
2010
2009
2008
$
9,109
$
8,898
$
892
3,878
(4,264
)
8,052
(119
)
(698
)
309
(2,080
)
1,572
(1,316
)
(109
)
16
34
$
10,679
$
5,524
$
7,971
(1)
Gains (losses) on these derivatives
are recorded in mortgage banking income.
(2)
Includes gains on interest rate
lock commitments related to the origination of mortgage loans
that are
held-for-sale,
which are considered derivative instruments, of
$8.7 billion, $8.4 billion and $1.6 billion for
2010, 2009 and 2008, respectively.
(3)
Gains (losses) on these derivatives
are recorded in other income (loss).
(4)
The majority of the balance is
related to the revaluation of economic hedges on foreign
currency-denominated debt which is recorded in other income
(loss).
(5)
Gains (losses) on these derivatives
are recorded in other income (loss), and for 2010, also in
personnel expense for hedges of certain RSUs.
Table of Contents
2010
Trading
Account
Profits
Other
Net Interest
(Dollars in millions)
(Losses)
Revenues
(1)
Income
Total
$
2,004
$
113
$
624
$
2,741
903
3
906
1,670
2,506
21
4,197
4,791
617
3,652
9,060
228
39
(142
)
125
$
9,596
$
3,278
$
4,155
$
17,029
2009
$
3,145
$
33
$
1,068
$
4,246
972
6
26
1,004
2,041
2,613
246
4,900
4,433
(2,576
)
4,637
6,494
1,084
13
(469
)
628
$
11,675
$
89
$
5,508
$
17,272
2008
$
1,083
$
47
$
276
$
1,406
1,320
6
13
1,339
(66
)
686
99
719
(8,276
)
(6,881
)
4,380
(10,777
)
130
58
(14
)
174
$
(5,809
)
$
(6,084
)
$
4,754
$
(7,139
)
(1)
Represents investment and brokerage
services and other income recorded in
GBAM
that the
Corporation includes in its definition of sales and trading
revenue.
Table of Contents
December 31, 2010
Carrying Value
Less than
One to
Three to
Over Five
(Dollars in millions)
One Year
Three Years
Five Years
Years
Total
$
158
$
2,607
$
7,331
$
14,880
$
24,976
598
6,630
7,854
23,106
38,188
756
9,237
15,185
37,986
63,164
38
60
98
1
2
2
415
420
1
2
40
475
518
$
757
$
9,239
$
15,225
$
38,461
$
63,682
136
949
1,085
9
33
174
2,315
2,531
$
9
$
169
$
174
$
3,264
$
3,616
Maximum Payout/Notional
$
133,691
$
466,565
$
475,715
$
275,434
$
1,351,405
84,851
314,422
178,880
203,930
782,083
218,542
780,987
654,595
479,364
2,133,488
10
15,413
4,012
19,435
113
78
951
1,897
3,039
113
88
16,364
5,909
22,474
$
218,655
$
781,075
$
670,959
$
485,273
$
2,155,962
December 31, 2009
Carrying Value
Less than
One to
Three to
Over Five
(Dollars in millions)
One Year
Three Years
Five Years
Years
Total
$
454
$
5,795
$
5,831
$
24,586
$
36,666
1,342
14,012
16,081
30,274
61,709
1,796
19,807
21,912
54,860
98,375
1
20
5
540
566
194
3
291
488
1
214
8
831
1,054
$
1,797
$
20,021
$
21,920
$
55,691
$
99,429
Maximum Payout/Notional
$
147,501
$
411,258
$
596,103
$
335,526
$
1,490,388
123,907
417,834
399,896
356,735
1,298,372
271,408
829,092
995,999
692,261
2,788,760
31
60
1,081
8,087
9,259
2,035
1,280
2,183
18,352
23,850
2,066
1,340
3,264
26,439
33,109
$
273,474
$
830,432
$
999,263
$
718,700
$
2,821,869
(1)
Maximum payout/notional for
credit-related notes is the same as these amounts.
Table of Contents
Table of Contents
Gross
Gross
Amortized
Unrealized
Unrealized
(Dollars in millions)
Cost
Gains
Losses
Fair Value
$
49,413
$
604
$
(912
)
$
49,105
190,409
3,048
(2,240
)
191,217
36,639
401
(23
)
37,017
23,458
588
(929
)
23,117
6,167
686
(1
)
6,852
4,054
92
(7
)
4,139
5,157
144
(10
)
5,291
15,514
39
(161
)
15,392
330,811
5,602
(4,283
)
332,130
5,687
32
(222
)
5,497
$
336,498
$
5,634
$
(4,505
)
$
337,627
427
427
$
336,925
$
5,634
$
(4,505
)
$
338,054
$
8,650
$
10,628
$
(13
)
$
19,265
$
22,648
$
414
$
(37
)
$
23,025
164,677
2,415
(846
)
166,246
25,330
464
(13
)
25,781
37,940
1,191
(4,028
)
35,103
6,354
671
(116
)
6,909
4,732
61
(896
)
3,897
6,136
182
(126
)
6,192
25,469
260
(478
)
25,251
293,286
5,658
(6,540
)
292,404
9,340
100
(243
)
9,197
$
302,626
$
5,758
$
(6,783
)
$
301,601
9,800
(100
)
9,700
$
312,426
$
5,758
$
(6,883
)
$
311,301
$
6,020
$
3,895
$
(507
)
$
9,408
(1)
At December 31, 2010, includes
approximately 90 percent prime bonds, eight percent Alt-A
bonds and two percent subprime bonds. At December 31, 2009,
includes approximately 85 percent prime bonds,
10 percent Alt-A bonds and five percent subprime bonds.
(2)
Classified in other assets on the
Corporations Consolidated Balance Sheet.
Table of Contents
2010
Non-agency
Non-agency
Other
Residential
Commercial
Non-U.S.
Corporate
Taxable
(Dollars in millions)
MBS
MBS
Securities
Bonds
Securities
Total
$
(1,305
)
$
(19
)
$
(276
)
$
(6
)
$
(568
)
$
(2,174
)
817
15
16
2
357
1,207
$
(488
)
$
(4
)
$
(260
)
$
(4
)
$
(211
)
$
(967
)
2009
$
(2,240
)
$
(6
)
$
(360
)
$
(87
)
$
(815
)
$
(3,508
)
672
672
$
(1,568
)
$
(6
)
$
(360
)
$
(87
)
$
(815
)
$
(2,836
)
(Dollars in millions)
2010
2009
$
442
$
22
207
420
406
$
1,055
$
442
(1)
On January 1, 2009, the
Corporation had securities with $134 million of OTTI
previously recognized in earnings of which $22 million
represented the credit component and $112 million
represented the non-credit component which was reclassified to
accumulated OCI through a cumulative effect transition
adjustment.
(2)
In 2010 and 2009, the Corporation
recognized $354 million and $2.4 billion of OTTI
losses on debt securities on which no portion of OTTI loss
remained in accumulated OCI. OTTI losses related to these
securities are excluded from these amounts.
Range
(1)
Weighted-average
10
th
Percentile
(2)
90
th
Percentile
(2)
12.6
%
3.0
%
27.1
%
46.2
17.7
57.9
49.1
2.2
99.1
(1)
Represents the range of
inputs/assumptions based upon the underlying collateral.
(2)
The value of a variable below which
the indicated percentile of observations will fall.
Table of Contents
Less than Twelve Months
Twelve Months or Longer
Total
Gross
Gross
Gross
Unrealized
Unrealized
Unrealized
(Dollars in millions)
Fair Value
Losses
Fair Value
Losses
Fair Value
Losses
$
27,384
$
(763
)
$
2,382
$
(149
)
$
29,766
$
(912
)
85,517
(2,240
)
85,517
(2,240
)
3,220
(23
)
3,220
(23
)
6,385
(205
)
2,245
(274
)
8,630
(479
)
47
(1
)
47
(1
)
70
(7
)
70
(7
)
465
(9
)
22
(1
)
487
(10
)
3,414
(38
)
46
(7
)
3,460
(45
)
126,432
(3,279
)
4,765
(438
)
131,197
(3,717
)
2,325
(95
)
568
(119
)
2,893
(214
)
128,757
(3,374
)
5,333
(557
)
134,090
(3,931
)
7
(2
)
19
(11
)
26
(13
)
128,764
(3,376
)
5,352
(568
)
134,116
(3,944
)
128
(11
)
530
(439
)
658
(450
)
223
(116
)
223
(116
)
68
(8
)
68
(8
)
$
128,960
$
(3,395
)
$
6,105
$
(1,123
)
$
135,065
$
(4,518
)
$
4,655
$
(37
)
$
$
$
4,655
$
(37
)
53,979
(817
)
740
(29
)
54,719
(846
)
965
(10
)
747
(3
)
1,712
(13
)
6,907
(557
)
13,613
(3,370
)
20,520
(3,927
)
1,263
(35
)
1,711
(81
)
2,974
(116
)
169
(27
)
3,355
(869
)
3,524
(896
)
1,157
(71
)
294
(55
)
1,451
(126
)
3,779
(70
)
932
(408
)
4,711
(478
)
72,874
(1,624
)
21,392
(4,815
)
94,266
(6,439
)
4,716
(93
)
1,989
(150
)
6,705
(243
)
77,590
(1,717
)
23,381
(4,965
)
100,971
(6,682
)
338
(113
)
1,554
(394
)
1,892
(507
)
77,928
(1,830
)
24,935
(5,359
)
102,863
(7,189
)
51
(17
)
1,076
(84
)
1,127
(101
)
$
77,979
$
(1,847
)
$
26,011
$
(5,443
)
$
103,990
$
(7,290
)
(1)
Includes
other-than-temporarily
impaired AFS debt securities on which a portion of the OTTI loss
remains in OCI.
(2)
At December 31, 2010, the
amortized cost of approximately 8,500 AFS securities exceeded
their fair value by $4.5 billion. At December 31,
2009, the amortized cost of approximately 12,000 AFS securities
exceeded their fair value by $7.3 billion.
Table of Contents
December 31
2010
2009
Amortized
Amortized
(Dollars in millions)
Cost
Fair Value
Cost
Fair Value
$
123,662
$
123,107
$
100,321
$
101,096
72,863
74,305
60,610
61,121
30,523
30,822
29,076
29,810
46,576
46,081
19,315
19,516
(1)
Investments in U.S. Treasury
securities did not exceed 10 percent of consolidated
shareholders equity at December 31, 2009.
December 31, 2010
Due in One
Due after One Year
Due after Five Years
Year or Less
through Five Years
through Ten Years
Due after Ten Years
Total
(Dollars in millions)
Amount
Yield
(1)
Amount
Yield
(1)
Amount
Yield
(1)
Amount
Yield
(1)
Amount
Yield
(1)
$
643
5.00
%
$
1,731
2.30
%
$
12,318
3.50
%
$
34,721
4.20
%
$
49,413
4.00
%
34
4.80
88,913
4.30
70,789
3.80
30,673
3.90
190,409
4.10
29
0.80
13,279
2.80
13,738
0.20
9,593
2.30
36,639
3.20
178
12.50
4,241
7.40
1,746
5.60
17,293
4.20
23,458
4.90
439
5.20
4,960
6.30
441
9.80
327
6.70
6,167
6.50
1,852
0.80
2,076
5.40
126
3.50
4,054
5.30
133
1.20
3,847
2.30
1,114
3.70
63
2.20
5,157
2.60
6,129
0.90
3,875
1.20
118
11.20
5,392
3.80
15,514
2.09
9,437
1.62
122,922
4.16
100,390
3.35
98,062
3.91
330,811
3.98
193
4.10
912
4.30
1,408
3.80
3,174
4.60
5,687
4.35
$
9,630
1.72
$
123,834
4.16
$
101,798
3.36
$
101,236
3.93
$
336,498
3.99
$
646
$
1,769
$
12,605
$
34,085
$
49,105
36
90,967
70,031
30,183
191,217
22
13,402
13,920
9,673
37,017
158
4,149
1,739
17,071
23,117
448
5,498
543
363
6,852
1,868
2,140
131
4,139
136
3,929
1,162
64
5,291
6,132
3,863
118
5,279
15,392
9,446
125,717
100,249
96,718
332,130
193
923
1,408
2,973
5,497
$
9,639
$
126,640
$
101,657
$
99,691
$
337,627
(1)
Yields are calculated based on the
amortized cost of the securities.
(Dollars in millions)
2010
2009
2008
$
3,995
$
5,047
$
1,367
(1,469
)
(324
)
(243
)
$
2,526
$
4,723
$
1,124
$
935
$
1,748
$
416
Table of Contents
Table of Contents
December 31, 2010
December 31, 2009
90 Days or
Total Past
Total Current
Purchased
Loans
30-89 Days
More
Due 30 Days
or Less Than 30
Credit -
Measured at
Total
Total
(Dollars in millions)
Past Due
(1)
Past Due
(2)
or More
Days Past Due
(3)
Impaired
(4)
Fair Value
Outstandings
(5)
Outstandings
$
8,274
$
33,240
$
41,514
$
205,867
$
10,592
$
257,973
$
242,129
2,086
2,291
4,377
121,014
12,590
137,981
149,126
107
419
526
930
11,652
13,108
14,854
2,593
3,320
5,913
107,872
113,785
49,453
755
599
1,354
26,111
27,465
21,656
1,608
1,104
2,712
87,596
90,308
97,236
90
50
140
2,690
2,830
3,110
15,513
41,023
56,536
552,080
34,834
643,450
577,564
946
1,453
2,399
173,185
2
175,586
181,377
721
3,554
4,275
44,957
161
49,393
69,447
118
31
149
21,793
21,942
22,199
27
6
33
31,955
41
32,029
27,079
360
438
798
13,921
14,719
17,526
2,172
5,482
7,654
285,811
204
293,669
317,628
$
3,321
3,321
4,936
2,172
5,482
7,654
285,811
204
3,321
296,990
322,564
$
17,685
$
46,505
$
64,190
$
837,891
$
35,038
$
3,321
$
940,440
$
900,128
1.88
%
4.95
%
6.83
%
89.10
%
3.72
%
0.35
%
(1)
Home loans includes
$2.3 billion of FHA insured loans, $818 million of
nonperforming loans and $156 million of TDRs that were
removed from the Countrywide PCI loan portfolio prior to the
adoption of new accounting guidance effective January 1,
2010.
(2)
Home loans includes
$16.8 billion of FHA insured loans and $372 million of
TDRs that were removed from the Countrywide PCI loan portfolio
prior to the adoption of new accounting guidance effective
January 1, 2010.
(3)
Home loans includes
$1.1 billion of nonperforming loans as all principal and
interest are not current or are TDRs that have not demonstrated
sustained repayment performance.
(4)
PCI loan amounts are shown gross of
the valuation allowance and exclude $1.6 billion of PCI
home loans from the Merrill Lynch acquisition which are included
in their appropriate aging categories.
(5)
Periods subsequent to
January 1, 2010 are presented in accordance with new
consolidation guidance.
(6)
Total outstandings include
non-U.S.
residential mortgages of $90 million and $552 million
at December 31, 2010 and 2009.
(7)
Total outstandings include
$11.8 billion and $13.4 billion of pay option loans
and $1.3 billion and $1.5 billion of subprime loans at
December 31, 2010 and 2009. The Corporation no longer
originates these products.
(8)
Total outstandings include dealer
financial services loans of $42.9 billion and
$41.6 billion, consumer lending of $12.9 billion and
$19.7 billion, U.S. securities-based lending margin loans
of $16.6 billion and $12.9 billion, student loans of
$6.8 billion and $10.8 billion,
non-U.S.
consumer loans of $8.0 billion and $8.0 billion, and
other consumer loans of $3.1 billion and $4.2 billion
at December 31, 2010 and 2009.
(9)
Total outstandings include consumer
finance loans of $1.9 billion and $2.3 billion, other
non-U.S.
consumer loans of $803 million and $709 million, and
consumer overdrafts of $88 million and $144 million at
December 31, 2010 and 2009.
(10)
Total outstandings include U.S.
commercial real estate loans of $46.9 billion and
$66.5 billion, and
non-U.S.
commercial real estate loans of $2.5 billion and
$3.0 billion at December 31, 2010 and 2009.
(11)
Certain commercial loans are
accounted for under the fair value option and include U.S.
commercial loans of $1.6 billion and $3.0 billion,
non-U.S.
commercial loans of $1.7 billion and $1.9 billion, and
commercial real estate loans of $79 million and
$90 million at December 31, 2010 and 2009. See
Note 22 Fair Value Measurements
and
Note 23 Fair Value Option
for
additional information.
Table of Contents
Accruing Past Due
Nonperforming Loans and Leases
90 Days or More
December 31
December 31
(Dollars in millions)
2010
2009
2010
2009
$
17,691
$
16,596
$
16,768
$
11,680
2,694
3,804
331
249
n/a
n/a
3,320
2,158
n/a
n/a
599
515
90
86
1,058
1,488
48
104
2
3
20,854
20,839
21,747
15,844
3,453
4,925
236
213
5,829
7,286
47
80
117
115
18
32
233
177
6
67
204
200
325
624
9,836
12,703
632
1,016
$
30,690
$
33,542
$
22,379
$
16,860
(1)
Residential mortgage loans accruing
past due 90 days or more represent loans insured by the
FHA. At December 31, 2010 and 2009, residential mortgage
includes $8.3 billion and $2.2 billion of loans that
are no longer accruing interest as interest has been curtailed
by the FHA although principal is still insured.
Table of Contents
December 31, 2010
Countrywide
Countrywide
Countrywide
Discontinued
Residential
Residential
Home
Home Equity
Discontinued
Real Estate
(Dollars in millions)
Mortgage
(1)
Mortgage PCI
(2)
Equity
(1,
3)
PCI
(2,
3)
Real Estate
(1)
PCI
(2)
$
130,260
$
3,390
$
73,680
$
1,883
$
1,033
$
5,248
19,907
1,654
14,038
1,186
155
1,578
43,268
5,548
37,673
9,521
268
4,826
53,946
$
247,381
$
10,592
$
125,391
$
12,590
$
1,456
$
11,652
$
27,483
$
4,016
$
15,494
$
3,206
$
663
$
7,168
165,952
6,576
109,897
9,384
793
4,484
53,946
$
247,381
$
10,592
$
125,391
$
12,590
$
1,456
$
11,652
(1)
Excludes Countrywide PCI loans.
(2)
Excludes PCI home loans related to
the Merrill Lynch acquisition.
(3)
Refreshed LTV is reported using a
combined LTV, which measures the carrying value of the combined
loans with liens against the property and the available line of
credit as a percentage of the appraised value securing the loan.
(4)
Credit quality indicators are not
reported for FHA insured loans as principal repayment is insured
by the FHA.
December 31, 2010
U.S. Credit
Non-U.S.
Direct/Indirect
Other
(Dollars in millions)
Card
Credit Card
Consumer
Consumer
(1)
$
14,159
$
631
$
6,748
$
979
99,626
7,528
48,209
961
19,306
35,351
890
$
113,785
$
27,465
$
90,308
$
2,830
(1)
96 percent of the other
consumer portfolio was associated with portfolios from certain
consumer finance businesses that have been previously exited by
the Corporation.
(2)
Other internal credit metrics may
include delinquency status, geography or other factors.
(3)
Direct/indirect consumer includes
$24.0 billion of securities-based lending which is
overcollateralized and therefore offers minimal credit risk and
$7.4 billion of loans the Corporation no longer originates.
(4)
Non-U.S.
credit card represents the select European countries
credit card portfolio and a portion of the Canadian credit card
portfolio which is evaluated using internal credit metrics,
including delinquency status. At December 31, 2010,
95 percent of this portfolio was current or less than
30 days past due, three percent was
30-89 days
past due and two percent was 90 days or more past due.
December 31, 2010
Commercial
U.S. Small
U.S.
Commercial
Lease
Non-U.S.
Business
(Dollars in millions)
Commercial
Real Estate
Financing
Commercial
Commercial
$
160,154
$
29,757
$
20,754
$
30,180
$
3,139
15,432
19,636
1,188
1,849
988
n/a
n/a
n/a
n/a
888
n/a
n/a
n/a
n/a
5,083
n/a
n/a
n/a
n/a
4,621
$
175,586
$
49,393
$
21,942
$
32,029
$
14,719
(1)
Includes $204 million of PCI
loans related to the commercial portfolio segment and excludes
$3.3 billion of loans accounted for under the fair value
option.
(2)
Other internal credit metrics may
include delinquency status, application scores, geography or
other factors.
(3)
U.S. small business commercial
includes business card and small business loans which are
evaluated using internal credit metrics, including delinquency
status. At December 31, 2010, 95 percent was current
or less than 30 days past due.
Table of Contents
December 31, 2010
2010
Unpaid
Average
Interest
Principal
Carrying
Related
Carrying
Income
(Dollars in millions)
Balance
Value
Allowance
Value
Recognized
(1)
$
5,493
$
4,382
n/a
$
4,429
$
184
1,411
437
n/a
493
21
361
218
n/a
219
8
$
8,593
$
7,406
$
1,154
$
5,226
$
196
1,521
1,284
676
1,509
23
247
177
41
170
7
$
14,086
$
11,788
$
1,154
$
9,655
$
380
2,932
1,721
676
2,002
44
608
395
41
389
15
(1)
Interest income recognized includes
interest accrued and collected on the outstanding balances of
accruing impaired loans as well as interest cash collections on
nonaccruing impaired loans for which the ultimate collectability
of principal is not uncertain. See
Note 1
Summary of Significant Accounting Principles
for additional
information.
December 31, 2010
2010
Unpaid
Average
Interest
Principal
Carrying
Related
Carrying
Income
(Dollars in millions)
Balance
Value
Allowance
Value
Recognized
(1)
$
968
$
441
n/a
$
547
$
3
2,655
1,771
n/a
1,736
8
46
28
n/a
9
n/a
$
3,891
$
3,193
$
336
$
3,389
$
36
5,682
4,103
208
4,813
29
572
217
91
190
935
892
445
1,028
34
$
4,859
$
3,634
$
336
$
3,936
$
39
8,337
5,874
208
6,549
37
618
245
91
199
935
892
445
1,028
34
(1)
Interest income recognized includes
interest accrued and collected on the outstanding balances of
accruing impaired loans as well as interest cash collections on
nonaccruing impaired loans for which the ultimate collectability
of principal is not uncertain. See
Note 1
Summary of Significant Accounting Principles
for additional
information.
(2)
Includes U.S. small business
commercial renegotiated TDR loans and related allowance.
Table of Contents
December 31, 2010
2010
Unpaid
Average
Interest
Principal
Carrying
Related
Carrying
Income
(Dollars in millions)
Balance
Value
(1)
Allowance
Value
Recognized
(2)
$
8,680
$
8,766
$
3,458
$
10,549
$
621
778
797
506
973
21
1,846
1,858
822
2,126
111
(1)
Includes accrued interest and fees.
(2)
Interest income recognized
includes interest accrued and collected on the outstanding
balances of accruing impaired loans as well as interest cash
collections on nonaccruing impaired loans for which the ultimate
collectability of principal is not uncertain. See
Note 1 Summary of Significant Accounting
Principles
for additional information.
Internal Programs
Percent of Balances Current or
December 31
External Programs
Other
Total
Less Than 30 Days Past Due
December 31
December 31
December 31
December 31
(Dollars in millions)
2010
2009
2010
2009
2010
2009
2010
2009
2010
2009
$
6,592
$
3,159
$
1,927
$
758
$
247
$
283
$
8,766
$
4,200
77.66
%
75.43
%
282
252
176
168
339
435
797
855
58.86
53.02
1,222
1,414
531
539
105
89
1,858
2,042
78.81
75.44
54
69
17
140
n/a
68.94
8,096
4,879
2,634
1,534
691
824
11,421
7,237
76.51
72.66
624
776
58
57
6
11
688
844
65.37
64.90
624
776
58
57
6
11
688
844
65.37
64.90
$
8,720
$
5,655
$
2,692
$
1,591
$
697
$
835
$
12,109
$
8,081
75.90
%
72.96
%
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
41,446
$
47,701
34,834
37,541
1,698
2,388
1,559
2,112
$
870
$
1,971
204
692
(Dollars in millions)
$
12,860
627
(2,859
)
(1,482
)
(1,431
)
7,715
(1,766
)
(213
)
(14
)
$
5,722
Table of Contents
Credit Card
Home
and Other
Total Allowance
(Dollars in millions)
Loans
Consumer
Commercial
2010
2009
2008
$
15,756
$
12,029
$
9,415
$
37,200
$
23,071
$
11,588
573
10,214
1
10,788
n/a
n/a
16,329
22,243
9,416
47,988
23,071
11,588
(10,915
)
(20,865
)
(5,610
)
(37,390
)
(35,483
)
(17,666
)
396
2,034
626
3,056
1,795
1,435
(10,519
)
(18,831
)
(4,984
)
(34,334
)
(33,688
)
(16,231
)
13,335
12,115
2,745
28,195
48,366
26,922
107
(64
)
(7
)
36
(549
)
792
19,252
15,463
7,170
41,885
37,200
23,071
1,487
1,487
421
518
240
240
204
(97
)
(539
)
(539
)
862
1,188
1,188
1,487
421
$
19,252
$
15,463
$
8,358
$
43,073
$
38,687
$
23,492
Credit Card
and Other
(Dollars in millions)
Home Loans
Consumer
Commercial
Total
$
1,871
$
4,786
$
1,080
$
7,737
13,904
11,421
10,645
35,970
13.46
%
41.91
%
10.15
%
21.51
%
$
10,964
$
10,677
$
6,078
$
27,719
358,765
222,967
282,820
864,552
3.06
%
4.79
%
2.15
%
3.21
%
$
6,417
n/a
$
12
$
6,429
36,393
n/a
204
36,597
17.63
%
n/a
5.76
%
17.57
%
$
19,252
$
15,463
$
7,170
$
41,885
409,062
234,388
293,669
937,119
4.71
%
6.60
%
2.44
%
4.47
%
(1)
Impaired loans include
nonperforming commercial loans and all TDRs, including both
commercial and consumer TDRs. Impaired loans exclude
nonperforming consumer loans unless they are classified as TDRs,
and all commercial loans and leases which are accounted for
under the fair value option.
(2)
Commercial impaired allowance for
loan and lease losses includes $445 million related to U.S.
small business commercial renegotiated TDR loans.
(3)
Outstanding loan and lease balances
and ratios do not include loans accounted for under the fair
value option. Loans accounted for under the fair value option
were $3.3 billion at December 31, 2010.
Table of Contents
Ending
Beginning
Balance Sheet
Net Increase
Balance Sheet
(Dollars in millions)
December 31, 2009
(Decrease)
January 1, 2010
$
121,339
$
2,807
$
124,146
182,206
6,937
189,143
87,622
556
88,178
301,601
(2,320
)
299,281
9,840
(6,572
)
3,268
311,441
(8,892
)
302,549
900,128
102,595
1,002,723
(37,200
)
(10,788
)
(47,988
)
862,928
91,807
954,735
43,874
3,025
46,899
27,279
3,498
30,777
593,543
701
594,244
$
2,230,232
$
100,439
$
2,330,671
$
69,524
$
22,136
$
91,660
438,521
84,356
522,877
1,490,743
217
1,490,960
1,998,788
106,709
2,105,497
71,233
(6,154
)
65,079
(5,619
)
(116
)
(5,735
)
165,830
165,830
231,444
(6,270
)
225,174
$
2,230,232
$
100,439
$
2,330,671
Table of Contents
Residential Mortgage
Non-Agency
Commercial
Agency
Prime
Subprime
Alt-A
Mortgage
(Dollars in millions)
2010
2009
2010
2009
2010
2009
2010
2009
2010
2009
$
243,901
$
346,448
$
$
$
$
$
7
$
$
4,227
$
313
(473
)
73
18
25
58
71
2
5
20
23
(1)
The Corporation sells residential
mortgage loans to GSEs in the normal course of business and
receives MBS in exchange which may then be sold into the market
to third-party investors for cash proceeds.
(2)
Substantially all of the first-lien
residential mortgage loans securitized are initially classified
as LHFS and accounted for under the fair value option. As such,
gains are recognized on these LHFS prior to securitization.
During 2010 and 2009, the Corporation recognized
$5.1 billion and $5.5 billion of gains on these LHFS,
net of hedges.
Table of Contents
Residential Mortgage
Non-Agency
Agency
Prime
Subprime
Alt-A
Commercial Mortgage
December 31
December 31
December 31
(Dollars in millions)
2010
2009
2010
2009
2010
2009
2010
2009
2010
2009
$
44,988
$
14,398
$
2,794
$
4,068
$
416
$
224
$
651
$
996
$
1,199
$
1,877
$
9,526
$
2,295
$
147
$
201
$
126
$
12
$
645
$
431
$
146
$
469
35,400
12,103
2,593
3,845
234
188
561
984
1,215
12
8
122
39
13
35
22
6
4
23
62
6
9
9
2
61
48
9
$
44,988
$
14,398
$
2,794
$
4,068
$
416
$
224
$
651
$
996
$
1,199
$
1,877
$
1,297,159
$
1,255,650
$
75,762
$
81,012
$
92,710
$
83,065
$
116,233
$
147,072
$
73,597
$
65,397
$
32,746
$
1,683
$
46
$
472
$
42
$
1,261
$
$
$
$
$
32,563
$
1,689
$
$
$
$
450
$
$
$
$
(37
)
(6
)
436
732
2,030
220
46
86
16
271
$
32,746
$
1,683
$
46
$
522
$
748
$
2,751
$
$
$
$
$
$
$
$
48
$
$
1,737
$
$
$
$
3
9
3
768
3
$
3
$
$
9
$
51
$
768
$
1,740
$
$
$
$
(1)
Maximum loss exposure excludes the
liability for representations and warranties obligations and
corporate guarantees and also excludes servicing advances. For
more information, see
Note 9 Representations
and Warranties Obligations and Corporate Guarantees.
(2)
As a holder of these securities,
the Corporation receives scheduled principal and interest
payments. During 2010 and 2009, there were no OTTI losses
recorded on those securities classified as AFS debt securities.
(3)
Principal balance outstanding
includes loans the Corporation transferred with which the
Corporation has continuing involvement, which may include
servicing the loans.
Table of Contents
December 31
2010
2009
Retained
Retained
Interests in
Interests in
Consolidated
Unconsolidated
Unconsolidated
(Dollars in millions)
VIEs
VIEs
Total
VIEs
$
3,192
$
9,132
$
12,324
$
13,947
$
$
209
$
209
$
16
35
35
147
3,529
3,529
(337
)
(337
)
$
3,192
$
244
$
3,436
$
163
$
3,635
$
$
3,635
$
23
23
$
3,658
$
$
3,658
$
$
3,529
$
20,095
$
23,624
$
31,869
(1)
For unconsolidated VIEs, the
maximum loss exposure includes outstanding trust certificates
issued by trusts in rapid amortization, net of recorded
reserves, and excludes the liability for representations and
warranties and corporate guarantees.
(2)
At December 31, 2010 and 2009,
$204 million and $15 million of the debt securities
classified as trading account assets were senior securities and
$5 million and $1 million were subordinate securities.
(3)
As a holder of these securities,
the Corporation receives scheduled principal and interest
payments. During 2010 and 2009, there were no OTTI losses
recorded on those securities classified as AFS debt securities.
(4)
At December 31, 2010 and 2009,
$35 million and $47 million represent subordinate debt
securities held. At December 31, 2009, $100 million
are residual interests classified as AFS debt securities.
Table of Contents
December 31
2010
2009
Consolidated
Retained Interests in
(Dollars in millions)
VIEs
Unconsolidated VIEs
$
36,596
$
32,167
$
$
80
8,501
6,573
92,104
14,905
(8,505
)
(1,727
)
1,778
4,259
1,547
$
89,636
$
29,879
$
52,781
$
259
$
53,040
$
$
92,104
$
103,309
(1)
At December 31, 2009, maximum
loss exposure represents the total retained interests held by
the Corporation and also includes $2.3 billion related to a
liquidity support commitment the Corporation provided to one of
the U.S. Credit Card Securitization Trusts commercial
paper program. This commercial paper program was terminated in
2010.
(2)
As a holder of these securities,
the Corporation receives scheduled principal and interest
payments. During 2009, there were no OTTI losses recorded on
those securities classified as AFS or HTM debt securities.
(3)
At December 31, 2010 and 2009,
loans and leases includes $20.4 billion and
$10.8 billion of sellers interest and
$3.8 billion and $4.1 billion of discount receivables.
(4)
At December 31, 2010, all
other assets includes restricted cash accounts and unbilled
accrued interest and fees. At December 31, 2009, all other
assets includes discount subordinate interests in accrued
interest and fees on the securitized receivables, cash reserve
accounts and interest-only strips which are carried at fair
value.
Table of Contents
Automobile and Other
Resecuritization Trusts
Municipal Bond Trusts
Securitization Trusts
December 31
December 31
December 31
(Dollars in millions)
2010
2009
2010
2009
2010
2009
$
21,425
$
543
$
4,261
$
10,143
$
141
$
2,511
$
2,324
$
543
$
255
$
155
$
$
17,989
109
2,212
2
1,036
195
74
203
83
17
5
$
21,425
$
543
$
255
$
358
$
126
$
2,495
$
55,006
$
7,443
$
6,108
$
12,247
$
774
$
3,636
$
$
$
4,716
$
241
$
2,061
$
908
$
68
$
$
4,716
$
241
$
$
9,583
8,292
(29
)
(101
)
196
25
$
68
$
$
4,716
$
241
$
9,750
$
8,216
$
$
$
4,921
$
$
$
68
7,681
7,308
2
101
$
68
$
$
4,921
$
2
$
7,782
$
7,308
(1)
As a holder of these securities,
the Corporation receives scheduled principal and interest
payments. During 2010 and 2009, there were no significant OTTI
losses recorded on those securities classified as AFS debt
securities.
(2)
The retained senior and subordinate
securities were valued using quoted market prices or observable
market inputs (Level 2 of the fair value hierarchy).
(3)
The retained residual interests are
carried at fair value which was derived using model valuations
(Level 3 of the fair value hierarchy).
Table of Contents
December 31, 2009
(Dollars in millions)
Consolidated
Unconsolidated
Total
$
9,388
$
25,135
$
34,523
$
3,492
$
$
3,492
2,899
2,899
318
318
636
4
60
64
$
6,713
$
378
$
7,091
$
6,748
$
$
6,748
$
6,748
$
$
6,748
$
6,713
$
13,893
$
20,606
Table of Contents
December 31
2010
2009
(Dollars in millions)
Consolidated
Unconsolidated
Total
Consolidated
Unconsolidated
Total
$
2,971
$
3,828
$
6,799
$
3,863
$
6,987
$
10,850
$
2,485
$
884
$
3,369
$
2,785
$
1,253
$
4,038
207
890
1,097
2,085
2,085
769
338
1,107
1,414
368
1,782
24
123
147
166
166
$
3,485
$
2,235
$
5,720
$
4,199
$
3,872
$
8,071
$
$
58
$
58
$
$
781
$
781
3,162
3,162
2,753
2,753
$
3,162
$
58
$
3,220
$
2,753
$
781
$
3,534
$
3,485
$
43,476
$
46,961
$
4,199
$
56,590
$
60,789
(1)
Maximum loss exposure is net of
credit protection purchased from the CDO with which the
Corporation has involvement but has not been reduced to reflect
the benefit of insurance purchased from other third parties.
Table of Contents
December 31
2010
2009
(Dollars in millions)
Consolidated
Unconsolidated
Total
Consolidated
Unconsolidated
Total
$
4,449
$
2,735
$
7,184
$
277
$
10,229
$
10,506
$
3,458
$
876
$
4,334
$
183
$
1,334
$
1,517
1
722
723
78
4,815
4,893
65
65
959
959
1,429
1,429
16
16
$
5,847
$
1,598
$
7,445
$
277
$
6,214
$
6,491
$
1
$
23
$
24
$
$
267
$
267
22
22
3,457
3,457
50
74
124
140
140
1,357
1,357
$
3,458
$
163
$
3,621
$
72
$
1,698
$
1,770
$
5,847
$
6,090
$
11,937
$
277
$
16,487
$
16,764
Table of Contents
December 31
2010
2009
(Dollars in millions)
Consolidated
Unconsolidated
Total
Consolidated
Unconsolidated
Total
$
19,248
$
8,796
$
28,044
$
12,073
$
11,290
$
23,363
$
8,900
$
$
8,900
$
269
$
$
269
228
228
1,096
83
1,179
1,832
73
1,905
1,822
1,822
7,690
1,122
8,812
7,820
1,200
9,020
(27
)
(22
)
(49
)
(29
)
(10
)
(39
)
262
949
1,211
197
197
937
6,440
7,377
1,285
8,777
10,062
$
19,594
$
8,790
$
28,384
$
12,460
$
10,050
$
22,510
$
$
9
$
9
$
$
80
$
80
1,115
1,115
965
965
229
229
33
33
8,683
1,657
10,340
3,123
1,466
4,589
$
10,027
$
1,666
$
11,693
$
4,121
$
1,546
$
5,667
$
19,594
$
13,416
$
33,010
$
12,460
$
14,819
$
27,279
Table of Contents
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
2,821
$
3,284
4,799
2,944
3,067
1,372
$
10,687
$
7,600
$
2,040
$
1,778
1,190
1,629
3,658
2,223
2,889
1,122
734
540
176
308
$
10,687
$
7,600
(1)
December 31, 2010 includes
$1.7 billion in claims contained in correspondence from
private-label securitizations investors that do not have the
right to demand repurchase of loans directly or the right to
access loan files. The inclusion of these claims in the amounts
noted does not mean that the Corporation believes these claims
have satisfied the contractual thresholds to direct the
securitization trustee to take action or are otherwise
procedurally or substantively valid.
Table of Contents
December 31
2010
2009
Unpaid
Unpaid
Principal
Principal
(Dollars in millions)
Balance
Cash
Loss
Balance
Cash
Loss
$
2,557
$
2,799
$
1,142
$
1,461
$
1,588
$
583
3,785
2,173
2,173
1,267
730
730
6,342
4,972
3,315
2,728
2,318
1,313
78
86
44
116
128
110
149
146
146
142
141
141
227
232
190
258
269
251
$
6,569
$
5,204
$
3,505
$
2,986
$
2,587
$
1,564
Table of Contents
(Dollars in millions)
2010
2009
$
3,507
$
2,271
580
30
41
(4,803
)
(1,312
)
6,786
1,851
(82
)
76
$
5,438
$
3,507
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
17,875
$
17,875
11,889
22,292
2,796
4,797
20,656
20,656
10,682
10,252
9,928
10,411
35
31
$
73,861
$
86,314
Table of Contents
December 31
2010
2009
Gross
Accumulated
Gross
Accumulated
(Dollars in millions)
Carrying Value
Amortization
Carrying Value
Amortization
$
7,162
$
4,085
$
7,179
$
3,452
5,394
4,094
5,394
3,722
4,232
1,222
4,232
760
1,647
902
1,651
751
3,087
1,296
3,438
1,183
$
21,522
$
11,599
$
21,894
$
9,868
Table of Contents
Over Three
Three months
Months to
(Dollars in millions)
or Less
Twelve Months
Thereafter
Total
$
21,486
$
29,097
$
9,954
$
60,537
61,717
2,559
660
64,936
(Dollars in millions)
U.S.
Non-U.S.
Total
$
110,176
$
71,104
$
181,280
12,853
150
13,003
4,426
119
4,545
2,944
14
2,958
1,793
1
1,794
4,091
87
4,178
$
136,283
$
71,475
$
207,758
2010
2009
2008
(Dollars in millions)
Amount
Rate
Amount
Rate
Amount
Rate
$
209,616
0.85
%
$
189,933
0.78
%
$
82,478
0.95
%
256,943
0.71
235,764
1.23
128,053
2.59
314,932
n/a
271,321
n/a
152,436
n/a
1,458
0.14
4,814
0.09
14,432
0.11
4,718
0.15
4,239
0.05
8,969
1.67
8,320
n/a
4,814
n/a
18,788
n/a
243,901
1.15
250,371
0.39
192,166
0.84
348,936
0.74
365,624
0.96
264,012
2.54
458,532
n/a
407,967
n/a
295,537
n/a
15,093
0.65
13,131
0.65
37,986
1.80
25,923
0.56
26,697
1.03
57,337
3.09
36,236
n/a
37,025
n/a
65,399
n/a
44,869
2.02
56,393
1.72
120,070
2.07
50,752
1.88
92,084
1.87
125,385
2.99
63,081
n/a
169,602
n/a
160,150
n/a
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
85,157
$
78,282
36,162
47,731
18,796
8,897
26,553
28,017
705
681
15,709
15,763
3,514
3,517
186,596
182,888
43,495
52,506
27,447
36,624
38,891
48,518
9,423
9,258
1,935
1,857
3,576
3,552
986
2,636
125,753
154,951
169
12,461
12,562
24,846
1,319
5,194
5,193
2,023
2,272
21,267
44,772
41,001
53,032
750
750
2,051
2,128
43,802
55,910
377,418
438,521
71,013
n/a
$
448,431
$
438,521
Table of Contents
(Dollars in millions)
2011
2012
2013
2014
2015
Thereafter
Total
$
16,419
$
40,432
$
8,731
$
21,890
$
13,236
$
85,888
$
186,596
26,554
18,611
18,053
16,650
4,515
41,370
125,753
4,382
5,796
86
503
1,015
9,485
21,267
22,760
12,549
5,031
1,293
105
2,064
43,802
70,115
77,388
31,901
40,336
18,871
138,807
377,418
19,136
11,800
17,514
9,103
1,229
12,231
71,013
$
89,251
$
89,188
$
49,415
$
49,439
$
20,100
$
151,038
$
448,431
Table of Contents
Aggregate
Aggregate
Principal
Principal
Amount
Amount
(Dollars in millions)
of Trust
of the
Stated Maturity
Per Annum Interest
Interest Payment
Issuer
Issuance Date
Securities
Notes
of the Notes
Rate of the Notes
Dates
Redemption Period
December 2001
$
575
$
593
December 2031
7.00
%
3/15,6/15,9/15,12/15
On or after 12/15/06
January 2002
900
928
February 2032
7.00
2/1,5/1,8/1,11/1
On or after 2/01/07
August 2002
500
516
August 2032
7.00
2/15,5/15,8/15,11/15
On or after 8/15/07
April 2003
375
387
May 2033
5.88
2/1,5/1,8/1,11/1
On or after 5/01/08
November 2004
518
534
November 2034
6.00
2/3,5/3,8/3,11/3
On or after 11/03/09
March 2005
1,000
1,031
March 2035
5.63
3/8,9/8
Any time
August 2005
1,320
1,361
August 2035
5.25
2/10,8/10
Any time
August 2005
530
546
August 2035
6.00
2/25,5/25,8/25,11/25
On or after 8/25/10
March 2006
900
928
March 2055
6.25
3/29,6/29,9/29,12/29
On or after 3/29/11
May 2006
1,000
1,031
May 2036
6.63
5/23,11/23
Any time
August 2006
863
890
August 2055
6.88
2/2,5/2,8/2,11/2
On or after 8/02/11
February 2007
700
700
March 2043
3-mo. LIBOR +40 bps
3/15,6/15,9/15,12/15
On or after 3/15/17
February 2007
850
850
March 2043
5.63
3/15,9/15
On or after 3/15/17
May 2007
500
500
June 2056
3-mo. LIBOR +80 bps
3/1,6/1,9/1,12/1
On or after 6/01/37
December 1996
365
376
December 2026
7.83
6/15,12/15
On or after 12/15/06
February 1997
500
515
January 2027
3-mo. LIBOR +55 bps
1/15,4/15,7/15,10/15
On or after 1/15/07
April 1997
500
515
April 2027
8.25
4/15,10/15
On or after 4/15/07
November 1996
450
464
December 2026
8.07
6/30,12/31
On or after 12/31/06
November 1996
300
309
December 2026
7.70
6/30,12/31
On or after 12/31/06
December 1996
450
464
December 2026
8.00
6/15,12/15
On or after 12/15/06
January 1997
400
412
January 2027
3-mo. LIBOR +57 bps
1/15,4/15,7/15,10/15
On or after 1/15/02
January 1997
250
258
February 2027
3-mo. LIBOR +62.5 bps
2/1,5/1,8/1,11/1
On or after 2/01/07
December 1996
250
258
December 2026
7.92
6/15,12/15
On or after 12/15/06
December 1998
250
258
December 2028
3-mo. LIBOR +100 bps
3/18,6/18,9/18,12/18
On or after 12/18/03
March 2002
534
550
March 2032
7.20
3/15,6/15,9/15,12/15
On or after 3/08/07
July 2003
175
180
August 2033
6.00
2/1,5/1,8/1,11/1
On or after 7/31/08
June 1997
250
258
June 2027
3-mo. LIBOR +75 bps
3/15,6/15,9/15,12/15
On or after 6/15/07
June 1998
250
258
June 2028
3-mo. LIBOR +60 bps
3/8,6/8,9/8,12/8
On or after 6/08/03
June 1997
9
9
June 2027
10.50
6/1,12/1
On or after 6/01/07
July 2000
6
6
July 2030
11.45
1/19,7/19
On or after 7/19/10
November 2002
10
10
November 2032
3-mo. LIBOR +335 bps
2/15,5/15,8/15,11/15
On or after 11/15/07
December 2002
5
5
January 2033
3-mo. LIBOR +335 bps
1/7,4/7,7/7,10/7
On or after 1/07/08
December 1996
250
258
December 2026
8.28
6/1,12/1
On or after 12/01/06
January 1997
280
289
February 2027
3-mo. LIBOR +80 bps
2/1,5/1,8/1,11/1
On or after 2/01/07
June 2002
300
309
October 2032
8.13
1/1,4/1,7/1,10/1
On or after 10/01/07
November 2002
200
206
February 2033
8.10
2/15,5/15,8/15,11/15
On or after 2/15/08
May 2001
77
77
Perpetual
3-mo. LIBOR +175 bps
2/15,5/15,8/15,11/15
On or after 11/08/12
May 2001
77
77
Perpetual
3-mo. LIBOR +175 bps
3/15,6/15,9/15,12/15
On or after 11/08/12
May 2001
77
77
Perpetual
3-mo. LIBOR +175 bps
1/15,4/15,7/15,10/15
On or after 11/08/12
May 2001
77
77
Perpetual
3-mo. LIBOR +175 bps
2/28,5/30,8/30,11/30
On or after 11/08/12
May 2001
77
77
Perpetual
3-mo. LIBOR +175 bps
3/30,6/30,9/30,12/30
On or after 11/08/12
May 2001
77
77
Perpetual
3-mo. LIBOR +175 bps
1/30,4/30,7/30,10/30
On or after 11/08/12
May 2001
88
88
Perpetual
3-mo. LIBOR +175 bps
3/15,6/15,9/15,12/15
On or after 11/08/12
June 2001
70
70
Perpetual
3-mo. LIBOR +175 bps
3/5,6/5,9/5,12/5
On or after 11/08/12
June 2001
53
53
Perpetual
3-mo. LIBOR +175 bps
3/12,6/12,9/12,12/12
On or after 11/08/12
June 2001
27
27
Perpetual
3-mo. LIBOR +175 bps
3/26,6/26,9/26,12/26
On or after 11/08/12
June 2001
80
80
Perpetual
3-mo. LIBOR +175 bps
1/10,4/10,7/10,10/10
On or after 11/08/12
June 2001
70
70
Perpetual
3-mo. LIBOR +175 bps
1/24,4/24,7/24,10/24
On or after 11/08/12
August 2000
491
491
Perpetual
6.97% through 9/15/2010;
3-mo. LIBOR +105.5 bps
thereafter
3/15,6/15,9/15,12/15
On or after 9/15/10
September 2000
95
95
Perpetual
3-mo. LIBOR +5.5 bps
through 9/15/2010; 3-mo.
LIBOR +105.5 bps
thereafter
3/15,6/15,9/15,12/15
On or after 9/15/10
June 1997
200
206
June 2027
8.05
6/15,12/15
Only under special event
April 2003
500
515
April 2033
6.75
1/1,4/1,7/1,10/1
On or after 4/11/08
November 2006
1,495
1,496
November 2036
7.00
2/1,5/1,8/1,11/1
On or after 11/01/11
January 1998
750
900
Perpetual
7.00
3/30,6/30,9/30,12/30
On or after 3/08
June 1998
400
480
Perpetual
7.12
3/30,6/30,9/30,12/30
On or after 6/08
November 1998
850
1,021
Perpetual
7.28
3/30,6/30,9/30,12/30
On or after 9/08
December 2006
1,050
1,051
December 2066
6.45
3/15,6/15,9/15,12/15
On or after 12/11
May 2007
950
951
June 2062
6.45
3/15,6/15,9/15,12/15
On or after 6/12
August 2007
750
751
September 2062
7.375
3/15,6/15,9/15,12/15
On or after 9/12
$
24,896
$
25,769
(1)
Notes were issued in British Pound.
Presentation currency is U.S. Dollar.
Table of Contents
December 31, 2010
Expire after 1
Expire after 3
Expire in 1
Year through
Years through
Expire after 5
(Dollars in millions)
Year or Less
3 Years
5 Years
Years
Total
$
152,926
$
144,461
$
43,465
$
16,172
$
357,024
1,722
4,290
18,207
55,886
80,105
35,275
18,940
4,144
5,897
64,256
3,698
110
874
4,682
193,621
167,801
65,816
78,829
506,067
497,068
497,068
$
690,689
$
167,801
$
65,816
$
78,829
$
1,003,135
December 31, 2009
$
149,248
$
187,585
$
30,897
$
28,488
$
396,218
1,810
3,272
10,667
76,923
92,672
29,794
21,285
4,923
13,740
69,742
2,020
40
1,467
3,527
182,872
212,182
46,487
120,618
562,159
541,919
541,919
$
724,791
$
212,182
$
46,487
$
120,618
$
1,104,078
(1)
The notional amounts of SBLCs and
financial guarantees classified as investment grade and
non-investment grade based on the credit quality of the
underlying reference name within the instrument were
$41.1 billion and $22.4 billion at December 31,
2010 and $39.7 billion and $30.0 billion at
December 31, 2009.
(2)
Includes business card unused lines
of credit.
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Table of Contents
Liquidation
Initial
Total
Preference
(Dollars in millions, except as
noted)
Issuance
Shares
per Share
Carrying
Per Annum
Series
Description
Date
Outstanding
(in dollars)
Value
(1)
Dividend Rate
Redemption Period
7% Cumulative Redeemable
June
1997
7,571
$
100
$
1
7.00
%
n/a
6.204% Non-Cumulative
September
2006
26,434
25,000
661
6.20
%
On or after
September 14, 2011
Floating Rate Non-Cumulative
November
2006
19,491
25,000
487
Annual rate equal to the greater of (a)
3-mo.
LIBOR
+ 35 bps and (b) 4.00
%
On or after
November 15, 2011
8.20% Non-Cumulative
May
2008
114,483
25,000
2,862
8.20
%
On or after
May 1, 2013
6.625% Non-Cumulative
September
2007
14,584
25,000
365
6.625
%
On or after
October 1, 2017
7.25% Non-Cumulative
November
2007
39,111
25,000
978
7.25
%
On or after
November 1, 2012
Fixed-to-Floating Rate Non-Cumulative
January
2008
66,702
25,000
1,668
8.00% through 1/29/18;
3-mo.
LIBOR
+ 363 bps thereafter
On or after
January 30, 2018
7.25% Non-Cumulative Perpetual Convertible
January
2008
3,349,321
1,000
3,349
7.25%
n/a
Fixed-to-Floating Rate Non-Cumulative
April
2008
57,357
25,000
1,434
8.125% through 5/14/18;
3-mo. LIBOR + 364 bps thereafter
On or after
May 15, 2018
Floating Rate Non-Cumulative
November
2004
4,861
30,000
146
3-mo. LIBOR + 75 bps
(5)
On or after
November 28, 2009
Floating Rate Non-Cumulative
March
2005
17,547
30,000
526
3-mo. LIBOR + 65 bps
(5)
On or after
November 28, 2009
6.375% Non-Cumulative
November
2005
22,336
30,000
670
6.375
%
On or after
November 28, 2010
Floating Rate Non-Cumulative
November
2005
12,976
30,000
389
3-mo. LIBOR + 75 bps
(6)
On or after
November 28, 2010
Floating Rate Non-Cumulative
March
2007
20,190
30,000
606
3-mo. LIBOR + 50 bps
(6)
On or after
May 21, 2012
6.70% Non-Cumulative Perpetual
September
2007
65,000
1,000
65
6.70
%
On or after
February 3, 2009
6.25% Non-Cumulative Perpetual
September
2007
16,596
1,000
17
6.25
%
On or after
March 18, 2010
8.625% Non-Cumulative
April
2008
89,100
30,000
2,673
8.625
%
On or after
May 28, 2013
3,943,660
$
16,897
(1)
Amounts shown are before
third-party issuance costs and other Merrill Lynch purchase
accounting related adjustments of $335 million.
(2)
Series B Preferred Stock does
not have early redemption/call rights.
(3)
The Corporation may redeem series
of preferred stock on or after the redemption date, in whole or
in part, at its option, at the liquidation preference plus
declared and unpaid dividends.
(4)
Ownership is held in the form of
depositary shares, each representing a 1/1200th interest in a
share of preferred stock, paying a quarterly cash dividend, if
and when declared.
(5)
Subject to 3.00% minimum rate per
annum.
(6)
Subject to 4.00% minimum rate per
annum.
(7)
Ownership is held in the form of
depositary shares, each representing a 1/40th interest in a
share of preferred stock, paying a quarterly cash dividend, if
and when declared.
(8)
Ownership is held in the form of
depositary shares, each representing a 1/1000th interest in a
share of preferred stock, paying a quarterly cash dividend, if
and when declared.
(9)
Ownership is held in the form of
depositary shares, each representing a 1/25th interest in a
share of preferred stock, paying a semi-annual cash dividend, if
and when declared, until the redemption date adjusts to a
quarterly cash dividend, if and when declared, thereafter.
Table of Contents
Available-for-
Available-for-
Sale Debt
Sale Marketable
Employee
Foreign
(Dollars in millions)
Securities
Equity Securities
Derivatives
Benefit
Plans
(1)
Currency
(2)
Total
$
(1,880
)
$
8,416
$
(4,402
)
$
(1,301
)
$
296
$
1,129
(5,496
)
(4,858
)
147
(3,387
)
(1,000
)
(14,594
)
1,420
377
797
46
2,640
$
(5,956
)
$
3,935
$
(3,458
)
$
(4,642
)
$
(704
)
$
(10,825
)
(71
)
(71
)
6,364
2,651
153
318
211
9,697
(965
)
(4,457
)
770
232
(4,420
)
$
(628
)
$
2,129
$
(2,535
)
$
(4,092
)
$
(493
)
$
(5,619
)
(116
)
(116
)
229
229
2,210
5,657
(1,108
)
(104
)
(44
)
6,611
(981
)
(1,127
)
407
249
281
(1,171
)
$
714
$
6,659
$
(3,236
)
$
(3,947
)
$
(256
)
$
(66
)
(1)
Net change in fair value represents
after-tax adjustments based on the final year-end actuarial
valuations.
(2)
Net change in fair value represents
only the impact of changes in spot foreign exchange rates on the
Corporations net investment in non-U.S. operations and
related hedges.
(3)
For more information on employee
benefit plans, see
Note 19 Employee
Benefit Plans.
(4)
Effective January 1, 2009,
the Corporation adopted new accounting guidance on the
recognition of OTTI losses on debt securities. For additional
information on the adoption of this accounting guidance, see
Note 1 Summary of Significant
Accounting Principles
and
Note
5 Securities.
Table of Contents
(Dollars in millions, except per
share information; shares in thousands)
2010
2009
2008
$
(2,238
)
$
6,276
$
4,008
(1,357
)
(4,494
)
(1,452
)
(3,986
)
(3,595
)
(2,204
)
2,556
(4
)
(6
)
(69
)
$
(3,599
)
$
(2,210
)
$
2,487
9,790,472
7,728,570
4,592,085
$
(0.37
)
$
(0.29
)
$
0.54
$
(3,595
)
$
(2,204
)
$
2,556
(4
)
(6
)
(69
)
$
(3,599
)
$
(2,210
)
$
2,487
9,790,472
7,728,570
4,592,085
4,343
9,790,472
7,728,570
4,596,428
$
(0.37
)
$
(0.29
)
$
0.54
(1)
Includes incremental shares from
RSUs, restricted stock shares, stock options and warrants.
Table of Contents
December 31
2010
2009
Actual
Actual
Minimum
Minimum
(Dollars in millions)
Ratio
Amount
Required
(1)
Ratio
Amount
Required
(1)
8.60
%
$
125,139
n/a
7.81
%
$
120,394
n/a
11.24
163,626
$
58,238
10.40
160,388
$
61,676
10.78
114,345
42,416
10.30
111,916
43,472
15.30
25,589
6,691
15.21
28,831
7,584
15.77
229,594
116,476
14.66
226,070
123,401
14.26
151,255
84,831
13.76
149,528
86,944
16.94
28,343
13,383
17.01
32,244
15,168
7.21
163,626
90,811
6.88
160,388
93,267
7.83
114,345
58,391
7.38
111,916
60,626
13.21
25,589
7,748
23.09
28,831
4,994
(1)
Dollar amount required to meet
guidelines for adequately capitalized institutions.
Table of Contents
Table of Contents
Nonqualified
Qualified
Non-U.S.
and Other
Postretirement
Pension Plans
(1)
Pension Plans
(1)
Pension Plans
(1)
Health and Life
Plans
(1)
(Dollars in millions)
2010
2009
2010
2009
2010
2009
2010
2009
$
14,527
$
14,254
$
1,312
$
$
2,535
$
2
$
113
$
110
1,025
2,763
1,835
2,238
157
177
272
(235
)
13
21
82
61
196
261
100
92
2
2
139
141
(714
)
(791
)
(55
)
(53
)
(314
)
(256
)
(275
)
(272
)
(1,174
)
n/a
n/a
n/a
n/a
n/a
n/a
18
21
n/a
n/a
(26
)
100
n/a
n/a
$
15,648
$
14,527
$
1,472
$
1,312
$
2,689
$
2,535
$
108
$
113
$
13,048
$
13,724
$
1,518
$
$
2,918
$
1,258
$
1,620
$
1,404
1,280
1,683
226
397
387
30
30
3
4
14
16
748
740
79
76
163
167
92
93
2
2
139
141
37
2
64
459
89
78
75
308
62
32
(11
)
(714
)
(791
)
(55
)
(53
)
(314
)
(256
)
(275
)
(272
)
(1,174
)
36
(3
)
n/a
n/a
n/a
n/a
n/a
n/a
18
21
n/a
n/a
(30
)
111
2
$
13,938
$
13,048
$
1,624
$
1,518
$
3,078
$
2,918
$
1,704
$
1,620
$
1,710
$
1,479
$
(152
)
$
(206
)
$
(389
)
$
(383
)
$
(1,596
)
$
(1,507
)
$
13,192
$
12,198
$
1,504
$
1,401
$
3,077
$
2,916
n/a
n/a
2,456
2,329
(32
)
(89
)
(388
)
(381
)
n/a
n/a
746
850
120
117
1
2
n/a
n/a
13,938
13,048
1,624
1,518
3,078
2,918
$
1,704
$
1,620
5.45
%
5.75
%
5.29
%
5.40
%
5.20
%
5.75
%
5.10
%
5.75
%
4.00
4.00
4.88
4.69
4.00
4.00
n/a
n/a
(1)
The measurement date for the
Qualified Pension Plans,
Non-U.S.
Pension Plans, Nonqualified and Other Pension Plans, and
Postretirement Health and Life Plans was December 31 of each
year reported.
(2)
The Corporations best
estimate of its contributions to be made to the Qualified
Pension Plans,
Non-U.S.
Pension Plans, Nonqualified and Other Pension Plans, and
Postretirement Health and Life Plans in 2011 is $0,
$82 million, $103 million and $121 million,
respectively.
Nonqualified
Postretirement
Qualified
Non-U.S.
and Other
Health and Life
Pension Plans
Pension Plans
Pension Plans
Plans
(Dollars in millions)
2010
2009
2010
2009
2010
2009
2010
2009
$
1,710
$
1,479
$
32
$
1
$
809
$
830
$
$
(184
)
(207
)
(1,198
)
(1,213
)
(1,596
)
(1,507
)
$
1,710
$
1,479
$
(152
)
$
(206
)
$
(389
)
$
(383
)
$
(1,596
)
$
(1,507
)
Table of Contents
Nonqualified
Non-U.S.
and Other
Pension Plans
Pension Plans
(Dollars in millions)
2010
2009
2010
2009
$
249
$
221
$
1,200
$
1,216
242
214
1,199
1,214
106
72
2
2
$
414
$
1,473
$
1,200
$
1,216
230
1,266
2
2
(1)
There were no Qualified Pension
Plans with ABO or PBO in excess of plan assets at
December 31, 2010 and 2009.
Qualified Pension Plans
Non-U.S. Pension Plans
(Dollars in millions)
2010
2009
2008
2010
2009
2008
$
397
$
387
$
343
$
30
$
30
$
748
740
837
79
76
(1,263
)
(1,231
)
(1,444
)
(88
)
(74
)
28
39
33
362
377
83
(2
)
36
$
272
$
348
$
(148
)
$
21
$
30
$
5.75
%
6.00
%
6.00
%
5.40
%
5.55
%
n/a
8.00
8.00
8.00
6.82
6.78
n/a
4.00
4.00
4.00
4.69
4.61
n/a
Nonqualified and
Postretirement Health
Other Pension Plans
and Life Plans
(Dollars in millions)
2010
2009
2008
2010
2009
2008
$
3
$
4
$
7
$
14
$
16
$
16
163
167
77
92
93
87
(138
)
(148
)
(9
)
(8
)
(13
)
31
31
31
(8
)
(8
)
(8
)
6
10
5
14
(49
)
(77
)
(81
)
17
2
$
47
$
22
$
90
$
85
$
55
$
40
5.75
%
6.00
%
6.00
%
5.75
%
6.00
%
6.00
%
5.25
5.25
n/a
8.00
8.00
8.00
4.00
4.00
4.00
n/a
n/a
n/a
Table of Contents
Nonqualified
Postretirement
Qualified
Non-U.S.
and Other
Health and
Pension Plans
Pension Plans
Pension Plans
Life Plans
Total
(Dollars in millions)
2010
2009
2010
2009
2010
2009
2010
2009
2010
2009
$
5,461
$
5,937
$
(20
)
$
(30
)
$
656
$
509
$
(27
)
$
(106
)
$
6,070
$
6,310
63
95
63
95
98
126
1
(15
)
(22
)
58
142
104
$
5,559
$
6,063
$
(19
)
$
(30
)
$
641
$
487
$
94
$
(11
)
$
6,275
$
6,509
Nonqualified
Postretirement
Qualified
Non-U.S.
and Other
Health and
(Dollars in millions)
Pension Plans
Pension Plans
Pension Plans
Life Plans
Total
$
(114
)
$
9
$
173
$
29
$
97
(362
)
(27
)
49
(340
)
2
64
66
(28
)
8
(6
)
(26
)
(31
)
(31
)
$
(504
)
$
11
$
154
$
105
$
(234
)
Nonqualified
Postretirement
Qualified
Non-U.S.
and Other
Health and
(Dollars in millions)
Pension Plans
Pension Plans
Pension Plans
Life Plans
Total
$
395
$
$
15
$
$
410
22
(8
)
6
20
31
31
$
417
$
$
7
$
37
$
461
Table of Contents
2011 Target Allocation
Nonqualified
Postretirement
Qualified
Non-U.S.
and Other
Health and Life
Asset Category
Pension Plans
Pension Plans
Pension Plans
Plans
60 80
%
25 75
%
0 5
%
50 75
%
20 40
10 60
95 100
25 45
0 5
0 15
0 5
0 5
0 10
5 40
0 5
0 5
Table of Contents
December 31, 2010
Fair Value Measurements
(Dollars in millions)
Level 1
Level 2
Level 3
Total
$
1,469
$
$
$
1,469
45
45
701
2,604
14
3,319
1,106
1,106
796
796
36
397
9
442
240
1,359
1,599
6,980
1
6,981
637
2,307
2,944
168
168
110
110
30
2
215
247
101
230
331
19
258
83
360
$
10,112
$
9,144
$
661
$
19,917
December 31, 2009
$
1,311
$
$
$
1,311
18
18
1,460
1,422
2,882
22
1,279
1,301
1,116
1,116
278
601
6
885
57
1,202
1,259
6,077
6,077
697
2,026
2,723
116
116
119
119
23
195
218
91
162
253
1
20
188
209
$
9,926
$
7,891
$
670
$
18,487
(1)
Other investments represent
interest rate swaps of $198 million and $110 million,
participant loans of $79 million and $74 million,
commodity and balanced funds of $44 million and
$14 million and other various investments of
$39 million and $11 million at December 31, 2010
and 2009.
Table of Contents
2010
Actual Return on
Plan Assets Still
Balance
Held at the
Purchases, Sales
Transfers into/
Balance
(Dollars in millions)
January 1
Reporting Date
(1)
and Settlements
(out of) Level 3
December 31
$
$
$
$
14
$
14
6
1
2
9
119
(9
)
110
195
(4
)
24
215
162
13
2
53
230
188
6
(111
)
83
$
670
$
1
$
32
$
(42
)
$
661
2009
$
1
$
(1
)
$
$
$
6
6
149
(29
)
(1
)
119
281
(92
)
6
195
91
14
37
20
162
293
(106
)
1
188
$
821
$
(214
)
$
43
$
20
$
670
(1)
During 2009, the Corporation did
not sell any Level 3 plan assets during the period.
Postretirement Health and Life Plans
Nonqualified
Qualified
Non-U.S.
and Other
Medicare
(Dollars in millions)
Pension Plans
(1)
Pension Plans
(2)
Pension Plans
(2)
Net Payments
(3)
Subsidy
$
1,016
$
60
$
231
$
167
$
19
1,031
62
250
168
19
1,038
63
242
168
19
1,037
65
232
168
19
1,041
66
235
166
18
5,231
350
1,147
757
87
(1)
Benefit payments expected to be
made from the plans assets.
(2)
Benefit payments expected to be
made from a combination of the plans and the
Corporations assets.
(3)
Benefit payments (net of retiree
contributions) expected to be made from a combination of the
plans and the Corporations assets.
Table of Contents
Weighted-
average
Shares
Exercise Price
175,028,022
$
14.30
216,874,053
14.40
(164,904,893
)
15.66
(14,924,513
)
13.81
212,072,669
13.37
Table of Contents
Weighted-
average
Exercise
Options
Price
303,722,748
$
49.71
(4,959
)
14.82
(42,594,970
)
44.16
261,122,819
50.61
255,615,840
50.77
261,113,002
50.61
(1)
Includes vested shares and
nonvested shares after a forfeiture rate is applied.
2008
2.05 3.85
%
5.3
26.00 36.00
32.8
6.6
(Dollars in millions)
2010
2009
2008
$
(666
)
$
(3,576
)
$
5,075
158
555
561
815
735
585
307
(2,286
)
6,221
(287
)
792
(5,269
)
201
(620
)
(520
)
694
198
(12
)
608
370
(5,801
)
$
915
$
(1,916
)
$
420
Table of Contents
2010
2009
2008
(Dollars in millions)
Amount
Percent
Amount
Percent
Amount
Percent
$
(463
)
35.0
%
$
1,526
35.0
%
$
1,550
35.0
%
233
(17.6
)
(42
)
(1.0
)
27
0.6
4,508
(341.0
)
392
(29.7
)
99
(7.5
)
69
1.6
79
1.8
98
(7.4
)
59
1.4
216
4.9
(1,657
)
125.4
(650
)
(14.9
)
(981
)
74.2
(863
)
(19.8
)
(631
)
(14.3
)
(732
)
55.4
(668
)
(15.3
)
(722
)
(16.3
)
(190
)
14.4
(709
)
(16.3
)
(192
)
(4.3
)
(349
)
26.4
87
2.0
169
3.8
(595
)
(13.7
)
(43
)
3.2
(130
)
(3.0
)
(76
)
(1.7
)
$
915
(69.2
)%
$
(1,916
)
(44.0
)%
$
420
9.5
%
(Dollars in millions)
2010
2009
2008
$
5,253
$
3,541
$
3,095
755
791
688
172
181
241
1,924
169
(657
)
(554
)
(371
)
(305
)
(615
)
(209
)
(49
)
(15
)
(72
)
$
5,169
$
5,253
$
3,541
Status at
Years under
December 31,
examination
(1)
2010
2001 2004
In Appeals process
2005 2009
Field examination
1999 2004
Field examination
2004
In Appeals process
2005 2008
Field examination
2008
Field examination
2007 2009
Field examination
2007 2008
Field examination
1997 2004
In Appeals process
2006 2007
Field examination
(1)
All tax years subsequent to the
years shown remain open to examination.
(2)
The
2001-2002 years
in Appeals process relate to the separate returns of a
subsidiary.
Table of Contents
December 31
(Dollars in millions)
2010
2009
$
18,732
$
17,236
14,659
13,011
4,183
2,263
3,868
4,021
3,550
2,134
1,791
1,636
1,530
3,187
427
4,590
1,960
2,308
50,700
50,386
(2,976
)
(4,315
)
47,724
46,071
4,330
878
4,280
5,663
3,328
3,320
2,957
2,411
2,146
2,497
1,235
1,382
2,375
2,641
20,651
18,792
$
27,073
$
27,279
Net
Deferred
Valuation
Deferred
First Year
(Dollars in millions)
Tax Asset
Allowance
Tax Asset
Expiring
$
9,037
$
$
9,037
After 2027
9,432
9,432
None
(1)
263
(36
)
227
Various
2,221
(847
)
1,374
Various
1,530
(1,530
)
After 2013
2,442
2,442
After 2027
214
214
None
1,527
(306
)
1,221
After 2017
(1)
The U.K. NOL may be carried
forward indefinitely. Due to
change-in-control
limitations in the three years prior to and following the change
in ownership, this unlimited carryforward period may be
jeopardized by certain major changes in the nature or conduct of
the U.K. businesses.
(2)
The NOL and related valuation
allowance for U.S. states before considering the benefit of
federal deductions were $3.4 billion and $1.3 billion.
Table of Contents
Table of Contents
December 31, 2010
Fair Value Measurements
Netting
Assets/Liabilities
(Dollars in millions)
Level 1
(1)
Level 2
(1)
Level 3
Adjustments
(2)
at Fair Value
$
$
78,599
$
$
$
78,599
17,647
43,164
60,811
732
40,869
7,751
49,352
23,249
8,257
623
32,129
24,934
8,346
243
33,523
11,948
6,908
18,856
66,562
112,584
15,525
194,671
2,627
1,516,244
18,773
(1,464,644
)
73,000
46,003
3,102
49,105
191,213
4
191,217
37,017
37,017
21,649
1,468
23,117
6,833
19
6,852
1,440
2,696
3
4,139
5,154
137
5,291
20
2,354
13,018
15,392
4,273
1,224
5,497
47,463
274,291
15,873
337,627
3,321
3,321
14,900
14,900
21,802
4,140
25,942
32,624
31,051
6,856
70,531
$
149,276
$
2,034,571
$
79,388
$
(1,464,644
)
$
798,591
$
$
2,732
$
$
$
2,732
37,424
37,424
23,357
5,983
29,340
14,568
914
15,482
14,748
1,065
15,813
224
11,119
7
11,350
52,897
19,081
7
71,985
1,799
1,492,963
11,028
(1,449,876
)
55,914
6,472
706
7,178
31,470
931
828
33,229
47,998
2,986
50,984
$
86,166
$
1,607,601
$
15,555
$
(1,449,876
)
$
259,446
(1)
Gross transfers between
Level 1 and Level 2 were approximately
$1.3 billion during the year ended December 31, 2010.
(2)
Amounts represent the impact of
legally enforceable master netting agreements and also cash
collateral held or placed with the same counterparties.
(3)
For further disaggregation of
derivative assets and liabilities, see
Note 4 Derivatives.
Table of Contents
December 31, 2009
Fair Value Measurements
Netting
Assets/Liabilities
(Dollars in millions)
Level 1
Level 2
Level 3
Adjustments
(1)
at Fair Value
$
$
57,775
$
$
$
57,775
17,140
27,445
44,585
4,772
41,157
11,080
57,009
25,274
7,204
1,084
33,562
19,827
7,173
1,143
28,143
11,137
7,770
18,907
67,013
94,116
21,077
182,206
3,326
1,467,855
23,048
(1,406,607
)
87,622
19,571
3,454
23,025
166,246
166,246
25,781
25,781
27,887
7,216
35,103
6,651
258
6,909
660
2,769
468
3,897
5,265
927
6,192
676
14,721
9,854
25,251
7,574
1,623
9,197
20,907
260,348
20,346
301,601
4,936
4,936
19,465
19,465
25,853
6,942
32,795
35,411
12,677
7,821
55,909
$
126,657
$
1,918,624
$
103,635
$
(1,406,607
)
$
742,309
$
$
1,663
$
$
$
1,663
37,325
37,325
22,339
4,180
26,519
17,300
1,107
18,407
12,028
483
386
12,897
282
7,317
10
7,609
51,949
13,087
396
65,432
2,925
1,443,494
15,185
(1,410,943
)
50,661
813
707
1,520
16,797
620
891
18,308
40,791
4,660
45,451
$
71,671
$
1,537,793
$
21,839
$
(1,410,943
)
$
220,360
(1)
Amounts represent the impact of
legally enforceable master netting agreements and also cash
collateral held or placed with the same counterparties.
Table of Contents
2010
Gains
Gains
Purchases,
Gross
Gross
Balance
(Losses)
(Losses)
Issuances
Transfers
Transfers
Balance
January 1
Consolidation
Included in
Included in
and
into
out of
December 31
(Dollars in millions)
2010
(1)
of VIEs
Earnings
OCI
Settlements
Level
3
(1)
Level
3
(1)
2010
(1)
$
11,080
$
117
$
848
$
$
(4,852
)
$
2,599
$
(2,041
)
$
7,751
1,084
(81
)
(342
)
131
(169
)
623
1,143
(138
)
(157
)
115
(720
)
243
7,770
175
653
(1,659
)
396
(427
)
6,908
21,077
292
1,282
(7,010
)
3,241
(3,357
)
15,525
7,863
8,118
(8,778
)
1,067
(525
)
7,745
4
4
7,216
113
(646
)
(169
)
(6,767
)
1,909
(188
)
1,468
258
(13
)
(31
)
(178
)
71
(88
)
19
468
(125
)
(75
)
(321
)
56
3
927
(3
)
47
(847
)
32
(19
)
137
9,854
5,603
(296
)
44
(3,263
)
1,119
(43
)
13,018
1,623
(25
)
(9
)
(574
)
316
(107
)
1,224
20,346
5,716
(1,108
)
(193
)
(11,946
)
3,503
(445
)
15,873
4,936
(89
)
(1,526
)
3,321
19,465
(4,321
)
(244
)
14,900
6,942
482
(3,714
)
624
(194
)
4,140
7,821
1,946
(2,612
)
(299
)
6,856
(386
)
23
(17
)
380
(10
)
(5
)
11
(52
)
49
(7
)
(396
)
18
(6
)
(52
)
429
(7
)
(707
)
(95
)
96
(706
)
(891
)
146
(83
)
(828
)
(4,660
)
697
1,074
(1,881
)
1,784
(2,986
)
(1)
Assets (liabilities). For assets,
increase / (decrease) to Level 3 and for liabilities,
(increase) / decrease to Level 3.
(2)
Net derivatives at
December 31, 2010 include derivative assets of
$18.8 billion and derivative liabilities of
$11.0 billion.
(3)
Amounts represent items which are
accounted for under the fair value option.
(4)
Other assets is primarily comprised
of AFS marketable equity securities.
Table of Contents
2009
Gains
Gains
Balance
Merrill
(Losses)
(Losses)
Purchases,
Transfers
Balance
January 1
Lynch
Included in
Included in
Issuances and
into/(out of)
December 31
(Dollars in millions)
2009
(1)
Acquisition
Earnings
OCI
Settlements
Level
3
(1)
2009
(1)
$
4,540
$
7,012
$
370
$
$
(2,015
)
$
1,173
$
11,080
546
3,848
(396
)
(2,425
)
(489
)
1,084
30
136
167
810
1,143
1,647
7,294
(262
)
933
(1,842
)
7,770
6,733
18,184
(152
)
(3,340
)
(348
)
21,077
2,270
2,307
5,526
(7,906
)
5,666
7,863
5,439
2,509
(1,159
)
2,738
(4,187
)
1,876
7,216
657
(185
)
(7
)
(155
)
(52
)
258
1,247
(79
)
(226
)
(73
)
(401
)
468
1,598
(22
)
127
324
(1,100
)
927
9,599
(75
)
669
815
(1,154
)
9,854
162
2
26
788
645
1,623
18,702
2,509
(1,518
)
3,327
(2,488
)
(186
)
20,346
5,413
2,452
515
(3,718
)
274
4,936
12,733
209
5,286
1,237
19,465
3,382
3,872
678
(1,048
)
58
6,942
4,157
2,696
1,273
(308
)
3
7,821
(38
)
(348
)
(386
)
4
(14
)
(10
)
(38
)
4
(362
)
(396
)
(816
)
(11
)
120
(707
)
(1,124
)
(1,337
)
1,396
174
(891
)
(7,481
)
(2,310
)
830
4,301
(4,660
)
(1)
Assets (liabilities). For assets,
increase / (decrease) to Level 3 and for liabilities,
(increase) / decrease to Level 3.
(2)
Net derivatives at
December 31, 2009 include derivative assets of
$23.0 billion and derivative liabilities of
$15.2 billion.
(3)
Amounts represent items which are
accounted for under the fair value option.
(4)
Other assets is primarily comprised
of AFS marketable equity securities.
2008
Gains
Gains
Balance
(Losses)
(Losses)
Purchases,
Transfers
Balance
January 1
Countrywide
Included in
Included in
Issuances and
into/(out of)
December 31
(Dollars in millions)
2008
(1)
Acquisition
Earnings
OCI
Settlements
Level
3
(1)
2008
(1)
$
4,027
$
$
(3,222
)
$
$
(1,233
)
$
7,161
$
6,733
(1,203
)
(185
)
2,531
1,380
(253
)
2,270
5,507
528
(2,509
)
(1,688
)
2,754
14,110
18,702
4,590
(780
)
1,603
5,413
3,053
17,188
(7,115
)
(393
)
12,733
1,334
1,425
(1,047
)
(542
)
2,212
3,382
3,987
1,407
175
(1,372
)
(40
)
4,157
(660
)
(1,212
)
(169
)
101
(1,940
)
(1)
Assets (liabilities). For assets,
increase / (decrease) to Level 3 and for liabilities,
(increase) / decrease to Level 3.
(2)
Net derivatives at
December 31, 2008 include derivative assets of
$8.3 billion and derivative liabilities of
$6.0 billion.
(3)
Amounts represent items which are
accounted for under the fair value option.
(4)
Other assets is primarily comprised
of AFS marketable equity securities.
Table of Contents
2010
Equity
Trading
Mortgage
Investment
Account
Banking
Other
Income
Profits
Income
Income
(Dollars in millions)
(Loss)
(Losses)
(Loss)
(1)
(Loss)
Total
$
$
848
$
$
$
848
(81
)
(81
)
(138
)
(138
)
653
653
1,282
1,282
(1,257
)
9,375
8,118
(16
)
(630
)
(646
)
(13
)
(13
)
(125
)
(125
)
(3
)
(3
)
(295
)
(1
)
(296
)
23
(48
)
(25
)
(272
)
(16
)
(820
)
(1,108
)
(89
)
(89
)
(4,321
)
(4,321
)
72
410
482
1,967
(21
)
1,946
18
18
(95
)
(95
)
(26
)
172
146
677
20
697
$
1,967
$
422
$
4,994
$
(307
)
$
7,076
(1)
Mortgage banking income does not
reflect the impact of Level 1 and Level 2 hedges on
MSRs.
(2)
Amounts represent items which are
accounted for under the fair value option.
Table of Contents
2009
Equity
Trading
Mortgage
Investment
Account
Banking
Other
Income
Profits
Income
Income
(Dollars in millions)
(Loss)
(Losses)
(Loss)
(1)
(Loss)
Total
$
$
370
$
$
$
370
(396
)
(396
)
136
136
(262
)
(262
)
(152
)
(152
)
(2,526
)
8,052
5,526
(20
)
(1,139
)
(1,159
)
(185
)
(185
)
(79
)
(79
)
(22
)
(22
)
(73
)
(73
)
(20
)
(1,498
)
(1,518
)
(11
)
526
515
5,286
5,286
(216
)
306
588
678
968
244
61
1,273
(38
)
(38
)
(11
)
(11
)
36
1,360
1,396
(2,083
)
(227
)
(2,310
)
$
968
$
(4,990
)
$
13,857
$
810
$
10,645
2008
$
$
(3,044
)
$
(178
)
$
$
(3,222
)
103
2,428
2,531
(74
)
(2,435
)
(2,509
)
(5
)
(775
)
(780
)
(7,115
)
(7,115
)
(195
)
(848
)
(4
)
(1,047
)
165
10
175
9
295
(473
)
(169
)
$
165
$
(3,132
)
$
(5,492
)
$
(3,677
)
$
(12,136
)
(1)
Mortgage banking income does not
reflect the impact of Level 1 and Level 2 hedges on
MSRs.
(2)
Amounts represent items which are
accounted for under the fair value option.
Table of Contents
2010
Equity
Trading
Mortgage
Investment
Account
Banking
Other
Income
Profits
Income
Income
(Dollars in millions)
(Loss)
(Losses)
(Loss)
(1)
(Loss)
Total
$
$
289
$
$
$
289
(50
)
(50
)
(144
)
(144
)
227
227
322
322
(945
)
676
(269
)
(2
)
(162
)
(164
)
(2
)
(162
)
(164
)
(142
)
(142
)
(5,740
)
(5,740
)
10
(9
)
258
259
50
(22
)
28
52
52
(46
)
(46
)
(182
)
(182
)
585
43
628
$
50
$
24
$
(5,143
)
$
(185
)
$
(5,254
)
(1)
Mortgage banking income does not
reflect the impact of Level 1 and Level 2 hedges on
MSRs.
(2)
Amounts represent items which are
accounted for under the fair value option.
Table of Contents
2009
Equity
Trading
Mortgage
Investment
Account
Banking
Other
Income
Profits
Income
Income
(Dollars in millions)
(Loss)
(Losses)
(Loss)
(1)
(Loss)
Total
$
$
89
$
$
$
89
(328
)
(328
)
137
137
(332
)
(332
)
(434
)
(434
)
(2,761
)
348
(2,413
)
(20
)
(659
)
(679
)
(11
)
(3
)
(14
)
(2
)
(8
)
(10
)
(13
)
(20
)
(670
)
(703
)
210
210
4,100
4,100
(195
)
164
695
664
(177
)
6
1,061
890
(38
)
(38
)
(11
)
(11
)
1,740
1,740
(2,303
)
(225
)
(2,528
)
$
(177
)
$
(5,744
)
$
4,587
$
2,811
$
1,477
2008
$
$
(2,144
)
$
(178
)
$
$
(2,322
)
2,095
1,154
3,249
(74
)
(1,840
)
(1,914
)
(1,003
)
(1,003
)
(7,378
)
(7,378
)
(154
)
(423
)
(4
)
(581
)
(524
)
(524
)
292
(880
)
(588
)
$
(524
)
$
(203
)
$
(6,607
)
$
(3,727
)
$
(11,061
)
(1)
Mortgage banking income does not
reflect the impact of Level 1 and Level 2 hedges on
MSRs.
(2)
Amounts represent items which are
accounted for under the fair value option.
Table of Contents
December 31, 2010
Gains (Losses)
(Dollars in millions)
Level 2
Level 3
in 2010
$
931
$
6,408
$
174
23
11,917
(6,074
)
10
2,125
(240
)
8
95
(50
)
December 31, 2009
Gains (Losses)
(Dollars in millions)
Level 2
Level 3
in 2009
$
2,320
$
7,248
$
(1,288
)
8,602
(5,596
)
644
(322
)
31
322
(268
)
(1)
Gains (losses) represent
charge-offs associated with real estate-secured loans that
exceed 180 days past due.
(2)
Amounts are included in other
assets on the Consolidated Balance Sheet and represent fair
value and related losses on foreclosed properties that were
written down subsequent to their initial classification as
foreclosed properties.
Table of Contents
December 31
2010
2009
Fair Value
Fair Value
Carrying
Carrying
Fair Value
Contractual
Amount
Fair Value
Contractual
Amount
Carrying
Principal
Less Unpaid
Carrying
Principal
Less Unpaid
(Dollars in millions)
Amount
Outstanding
Principal
Amount
Outstanding
Principal
$
4,135
$
3,638
$
497
$
5,865
$
5,460
$
405
25,942
28,370
(2,428
)
32,795
36,522
(3,727
)
116,023
115,053
970
95,100
94,641
459
310
n/a
n/a
253
n/a
n/a
2,732
2,692
40
1,663
1,605
58
706
1,356
(650
)
707
1,451
(744
)
6,472
6,472
813
813
50,984
54,656
(3,672
)
45,451
48,560
(3,109
)
(1)
Includes unfunded loan commitments
with an aggregate fair value of $866 million and
$950 million and aggregated committed exposure of
$27.3 billion and $27.0 billion at December 31,
2010 and 2009, respectively.
2010
Trading
Mortgage
Equity
Account
Banking
Investment
Other
Profits
Income
Income
Income
(Dollars in millions)
(Losses)
(Loss)
(Loss)
(Loss)
Total
$
2
$
$
$
105
$
107
9,091
493
9,584
52
52
107
107
(48
)
(48
)
(95
)
(95
)
(192
)
(192
)
(625
)
22
(603
)
$
(815
)
$
8,996
$
$
731
$
8,912
2009
$
25
$
$
$
1,886
$
1,911
(211
)
8,251
588
8,628
(292
)
(292
)
379
(177
)
202
35
35
(11
)
(11
)
(236
)
(236
)
(3,938
)
(4,900
)
(8,838
)
$
(3,981
)
$
8,240
$
(177
)
$
(2,683
)
$
1,399
2008
$
4
$
$
$
(1,248
)
$
(1,244
)
(680
)
281
(215
)
(614
)
(18
)
(18
)
(10
)
(10
)
295
295
$
(676
)
$
576
$
$
(1,491
)
$
(1,591
)
Table of Contents
December 31
2010
2009
Carrying
Fair
Carrying
Fair
(Dollars in millions)
Value
Value
Value
Value
$
876,739
$
861,695
$
841,020
$
811,831
1,010,430
1,010,460
991,611
991,768
448,431
433,107
438,521
440,246
(Dollars in millions)
2010
2009
$
19,465
$
12,733
209
3,516
5,728
(3,760
)
(4,491
)
(4,321
)
5,286
$
14,900
$
19,465
$
1,628
$
1,716
(1)
These amounts reflect the change in
discount rates and prepayment speed assumptions, mostly due to
changes in interest rates, as well as the effect of changes in
other assumptions.
December 31
2010
2009
(Dollars in millions)
Fixed
Adjustable
Fixed
Adjustable
2.21
%
3.25
%
1.67
%
4.64
%
4.85
2.29
5.62
3.26
Table of Contents
December 31, 2010
Change in
Weighted-average Lives
Change in
(Dollars in millions)
Fixed
Adjustable
Fair Value
0.33 years
0.16 years
$
907
0.70
0.34
1,925
(0.29
)
(0.14
)
(814
)
(0.55
)
(0.26
)
(1,551
)
n/a
n/a
$
796
n/a
n/a
1,668
n/a
n/a
(729
)
n/a
n/a
(1,398
)
n/a = not applicable
Table of Contents
Table of Contents
Total
Corporation
(1)
Deposits
Global Card
Services
(2)
At and for the Year Ended December 31
(Dollars in millions)
2010
2009
2008
2010
2009
2008
2010
2009
2008
$
52,693
$
48,410
$
46,554
$
8,128
$
7,089
$
10,910
$
17,821
$
19,972
$
19,305
58,697
72,534
27,422
5,053
6,801
6,854
7,800
9,074
11,628
111,390
120,944
73,976
13,181
13,890
17,764
25,621
29,046
30,933
28,435
48,570
26,825
201
343
390
12,648
29,553
19,575
1,731
1,977
1,834
195
238
297
813
911
1,048
12,400
10,400
68,977
64,736
39,695
10,636
9,263
8,296
6,140
6,815
7,905
(153
)
5,661
5,622
2,149
4,046
8,781
(4,380
)
(8,233
)
2,405
2,085
(615
)
1,614
797
1,470
3,192
2,223
(2,972
)
850
$
(2,238
)
$
6,276
$
4,008
$
1,352
$
2,576
$
5,589
$
(6,603
)
$
(5,261
)
$
1,555
$
2,264,909
$
2,230,232
$
432,334
$
444,612
$
169,762
$
212,668
Home Loans & Insurance
Global Commercial Banking
Global Banking & Markets
2010
2009
2008
2010
2009
2008
2010
2009
2008
$
4,690
$
4,975
$
3,311
$
8,086
$
8,054
$
8,142
$
7,989
$
9,553
$
8,297
5,957
11,928
6,001
2,817
3,087
2,535
20,509
23,070
(5,506
)
10,647
16,903
9,312
10,903
11,141
10,677
28,498
32,623
2,791
8,490
11,244
6,287
1,971
7,768
3,316
(155
)
1,998
424
38
63
39
72
87
127
144
165
91
2,000
13,125
11,642
6,977
3,802
3,746
3,205
17,894
15,756
7,221
(13,006
)
(6,046
)
(3,991
)
5,058
(460
)
4,029
10,615
14,704
(4,945
)
(4,085
)
(2,195
)
(1,477
)
1,877
(170
)
1,418
4,296
4,646
(1,756
)
$
(8,921
)
$
(3,851
)
$
(2,514
)
$
3,181
$
(290
)
$
2,611
$
6,319
$
10,058
$
(3,189
)
$
213,455
$
232,588
$
310,131
$
295,947
$
655,535
$
649,876
Global Wealth &
Investment Management
All Other
(2)
2010
2009
2008
2010
2009
2008
$
5,831
$
5,988
$
4,780
$
148
$
(7,221
)
$
(8,191
)
10,840
10,149
1,527
5,721
8,425
4,383
16,671
16,137
6,307
5,869
1,204
(3,808
)
646
1,061
664
4,634
(3,397
)
(3,831
)
458
480
192
11
33
40
13,140
11,917
3,872
4,240
5,597
2,219
2,427
2,679
1,579
(3,016
)
(1,029
)
(2,236
)
1,080
963
565
(4,103
)
(2,357
)
(1,178
)
$
1,347
$
1,716
$
1,014
$
1,087
$
1,328
$
(1,058
)
$
297,301
$
250,963
$
186,391
$
143,578
(1)
There were no material intersegment
revenues.
(2)
2010 is presented in accordance
with new consolidation guidance. 2009 and 2008
Global Card
Services
results are presented on a managed basis with a
corresponding offset recorded in
All Other
.
(3)
FTE basis
Table of Contents
2009
2008
Managed
Securitization
Held
Managed
Securitization
Held
(Dollars in millions)
Basis
(1)
Impact
(2)
Basis
Basis
(1)
Impact
(2)
Basis
$
19,972
$
(9,250
)
$
10,722
$
19,305
$
(8,701
)
$
10,604
8,553
(2,034
)
6,519
10,032
2,250
12,282
521
(115
)
406
1,596
(219
)
1,377
9,074
(2,149
)
6,925
11,628
2,031
13,659
29,046
(11,399
)
17,647
30,933
(6,670
)
24,263
29,553
(11,399
)
18,154
19,575
(6,670
)
12,905
7,726
7,726
8,953
8,953
(8,233
)
(8,233
)
2,405
2,405
(2,972
)
(2,972
)
850
850
$
(5,261
)
$
$
(5,261
)
$
1,555
$
$
1,555
2009
2008
Reported
Securitization
As
Reported
Securitization
As
(Dollars in millions)
Basis
(1)
Offset
(2)
Adjusted
Basis
(1)
Offset
(2)
Adjusted
$
(7,221
)
$
9,250
$
2,029
$
(8,191
)
$
8,701
$
510
(896
)
2,034
1,138
2,164
(2,250
)
(86
)
10,589
10,589
265
265
4,437
4,437
1,133
1,133
(5,705
)
115
(5,590
)
821
219
1,040
8,425
2,149
10,574
4,383
(2,031
)
2,352
1,204
11,399
12,603
(3,808
)
6,670
2,862
(3,397
)
11,399
8,002
(3,831
)
6,670
2,839
2,721
2,721
935
935
2,909
2,909
1,324
1,324
(1,029
)
(1,029
)
(2,236
)
(2,236
)
(2,357
)
(2,357
)
(1,178
)
(1,178
)
$
1,328
$
$
1,328
$
(1,058
)
$
$
(1,058
)
(1)
Provision for credit losses in
Global Card Services
is presented on a managed basis with
the securitization offset in
All Other
.
(2)
The securitization impact/offset to
net interest income is on a funds transfer pricing methodology
consistent with the way funding costs are allocated to the
businesses.
(3)
FTE basis
Table of Contents
(Dollars in millions)
2010
2009
2008
$
105,521
$
119,740
$
77,784
1,924
(766
)
2,390
4,532
10,589
265
1,336
2,268
1,819
(1,170
)
(1,301
)
(1,194
)
n/a
(11,399
)
(6,670
)
(1,923
)
512
(1,612
)
$
110,220
$
119,643
$
72,782
$
(3,325
)
$
4,948
$
5,066
(1,966
)
(6,597
)
(641
)
2,855
6,671
167
318
477
378
(1,146
)
(1,714
)
(630
)
1,026
2,491
(332
)
$
(2,238
)
$
6,276
$
4,008
(1)
FTE basis
December 31
(Dollars in millions)
2010
2009
$
2,078,518
$
2,086,654
637,439
573,525
34,201
44,640
10,928
34,761
(645,846
)
(585,994
)
n/a
(89,716
)
149,669
166,362
$
2,264,909
$
2,230,232
(1)
Represents
Global Card Services
securitized loans. 2010 is presented in accordance with new
consolidation guidance effective January 1, 2010. 2009 is
presented on a managed basis.
Table of Contents
(Dollars in millions)
2010
2009
2008
$
7,263
$
4,100
$
18,178
226
27
1,026
999
1,179
3,433
2,781
7,784
940
11,269
13,090
23,577
4,484
4,737
6,818
8,030
4,238
1,829
12,514
8,975
8,647
(1,245
)
4,115
14,930
(3,709
)
(85
)
(1,793
)
2,464
4,200
16,723
7,647
(21,614
)
(10,559
)
(12,349
)
23,690
(2,156
)
(4,702
)
2,076
(12,715
)
$
(2,238
)
$
6,276
$
4,008
$
(3,595
)
$
(2,204
)
$
2,556
December 31
(Dollars in millions)
2010
2009
$
117,124
$
91,892
19,518
8,788
50,589
54,442
8,320
13,043
188,538
186,673
61,374
67,399
10,837
18,262
$
456,300
$
440,499
$
13,899
$
5,968
22,803
19,204
4,241
363
513
632
186,596
182,888
228,248
231,444
$
456,300
$
440,499
Table of Contents
(Dollars in millions)
2010
2009
2008
$
(2,238
)
$
6,276
$
4,008
4,702
(2,076
)
12,715
(996
)
4,400
(598
)
1,468
8,600
16,125
5,972
3,729
(12,142
)
3,531
(25,437
)
2,490
2,592
(17
)
43
12,095
(21,725
)
(9,609
)
8,052
(20,673
)
(14,131
)
29,275
30,347
28,994
(27,176
)
(20,180
)
(13,178
)
49,244
34,742
(45,000
)
13,468
10,127
(1,762
)
(4,863
)
(11,528
)
3,280
4,149
5,030
11,669
6,492
40,056
25,232
(6,633
)
46,572
91,892
98,525
51,953
$
117,124
$
91,892
$
98,525
Table of Contents
December 31
Year Ended December 31
Total
Revenue, Net
Income
of Interest
(Loss) Before
Net Income
(Dollars in millions)
Year
Total Assets
(1)
Expense
(2)
Income Taxes
(Loss)
2010
$
1,954,517
$
88,679
$
(5,370
)
$
(4,511
)
2009
1,847,165
98,278
(6,901
)
(1,025
)
2008
67,549
3,289
3,254
2010
106,186
6,115
1,380
869
2009
118,921
10,685
8,096
5,101
2008
1,770
1,207
761
2010
186,045
12,369
1,273
525
2009
239,374
9,085
2,295
1,652
2008
3,020
(456
)
(252
)
2010
18,161
3,057
1,394
879
2009
24,772
1,595
870
548
2008
443
388
245
2010
310,392
21,541
4,047
2,273
2009
383,067
21,365
11,261
7,301
2008
5,233
1,139
754
2010
$
2,264,909
$
110,220
$
(1,323
)
$
(2,238
)
2009
2,230,232
119,643
4,360
6,276
2008
72,782
4,428
4,008
(1)
Total assets include long-lived
assets, which are primarily located in the U.S.
(2)
There were no material intercompany
revenues between geographic regions for any of the periods
presented.
(3)
Includes the Corporations
Canadian operations, which had total assets of
$16.1 billion and $31.1 billion at December 31,
2010 and 2009; total revenue, net of interest expense of
$1.5 billion, $2.5 billion and $1.2 billion;
income before income taxes of $459 million,
$723 million and $552 million; and net income of
$328 million, $488 million and $404 million for
2010, 2009 and 2008, respectively.
(4)
The year ended December 31,
2009 amount includes pre-tax gains of $7.3 billion
($4.6 billion
net-of-tax)
on the sale of common shares of the Corporations initial
investment in CCB.
Table of Contents
Item 9A.
Controls
And Procedures
Table of Contents
February 25, 2011
Table of Contents
Item 9B.
Other
Information
Table of Contents
Proposal 1: Election of Directors The
Nominees;
Section 16(a) Beneficial Ownership Reporting
Compliance;
Corporate Governance Additional Corporate
Governance Information, Committee Charters and Code of
Ethics; and
Corporate Governance Code of Ethics.
Item 11.
Executive
Compensation
Compensation Discussion and Analysis;
Executive Compensation;
Director Compensation;
Compensation and Benefits Committee Report; and
Compensation and Benefits Committee Interlocks and Insider
Participation in the 2011 Proxy Statement.
Stock Ownership of Directors and Executive Officers
in the 2011 Proxy Statement.
Number of
Shares
Remaining for
Number of Shares to
Weighted-Average
Future Issuance
be Issued Under
Exercise Price of
Under Equity
Outstanding Options
Outstanding
Compensation
Plan
Category
(1,
2)
and
Rights
(3)
Options
(4)
Plans
336,787,693
$
41.09
522,759,571
(5)
94,581,419
$
69.91
69,633,770
(7)
431,369,112
$
48.95
592,393,341
(1)
This table does not include
outstanding options to purchase 9,365,888 shares of the
Corporations common stock that were assumed by the
Corporation in connection with prior acquisitions, under whose
plans the options were originally granted. The weighted-average
option price of these assumed options was $87.21 at
December 31, 2010. Also, at December 31, 2010 there
were 216,956 vested deferred restricted stock units associated
with these plans. No additional awards were granted under these
plans following the respective dates of acquisition.
(2)
This table does not include
outstanding options to purchase 9,560,763 shares of the
Corporations common stock that were assumed by the
Corporation in connection with the Merrill Lynch acquisition,
which were originally issued under certain Merrill Lynch plans.
The weighted-average option price of these assumed options was
$56.85 at December 31, 2010. Also, at December 31,
2010 there were 18,985,432 outstanding restricted stock units
and 1,760,307 vested deferred restricted stock units and stock
option gain deferrals associated with such plans. These Merrill
Lynch plans were frozen at the time of the acquisition and no
additional awards may be granted under these plans. However, as
previously approved by the Corporations shareholders, if
any of the outstanding awards under these frozen plans
subsequently are cancelled, forfeited or settled in cash, the
shares relating to such awards thereafter will be available for
future awards issued under the Corporations Key Associate
Stock Plan (KASP).
(3)
Includes 160,534,411 outstanding
restricted stock units and 117,363 vested deferred restricted
stock units under plans approved by the Corporations
shareholders and 28,521,170 outstanding restricted stock units
under plans not approved by the Corporations shareholders.
(4)
Does not reflect restricted stock
units included in the first column, which do not have an
exercise price.
(5)
Includes 522,081,106 shares of
common stock available for future issuance under the KASP
(including 20,875,047 shares originally subject to awards
outstanding under frozen Merrill Lynch plans at the time of the
acquisition which subsequently have been cancelled, forfeited or
settled in cash and become available for issuance under the
KASP, as described in note (2) above) and
678,465 shares of common stock which are available for
future issuance under the Corporations Directors
Stock Plan.
(6)
In connection with the Merrill
Lynch acquisition, the Corporation assumed and has continued to
issue awards in accordance with applicable NYSE listing
standards under the following plans, which were not approved by
the Corporations shareholders: the Merrill Lynch Employee
Stock Compensation Plan (ESCP) and the Merrill Lynch Employee
Stock Purchase Plan (ESPP), both of which were approved by
Merrill Lynchs shareholders prior to the acquisition. The
material features of these plans are described below under the
heading Description of Plans Not Approved by the
Corporations Shareholders.
(7)
This amount includes
60,189,074 shares of common stock available for future
issuance under the ESCP and 9,444,696 shares of common
stock available for future issuance under the ESPP.
Table of Contents
Review of Related Person Transactions and Certain
Transactions; and
Corporate Governance Director Independence in
the 2011 Proxy Statement.
Item 14.
Principal
Accounting Fees and Services
Proposal 4: Ratification of the Registered Independent
Public Accounting Firm for 2011 PwCs 2010 and 2009
Fees and Pre-Approval Policies and
Procedures in the 2011 Proxy Statement.
Table of Contents
Item 15.
Exhibits,
Financial Statement Schedules
The following documents are filed as part of this report:
Financial Statements:
Report of Independent Registered Public Accounting Firm
Consolidated Statement of Income for the years ended December
31, 2010, 2009 and 2008
Consolidated Balance Sheet at December 31, 2010 and 2009
Consolidated Statement of Changes in Shareholders Equity
for the years ended December 31, 2010, 2009 and 2008
Consolidated Statement of Cash Flows for the years ended
December 31, 2010, 2009 and 2008
Notes to Consolidated Financial Statements
Schedules:
None
The exhibits filed as part of this report and exhibits
incorporated herein by reference to other documents are listed
in the Index to Exhibits to this Annual Report on Form 10-K
(pages E-1 through E-6, including executive compensation plans
and arrangements which are listed under Exhibit Nos. 10 (a)
through 10(III)).
Table of Contents
By:
*
Signature
Title
Date
*/s/ Brian T. Moynihan
Chief Executive Officer, President and Director
(Principal Executive Officer)
February 25, 2011
*/s/ Charles H. Noski
Chief Financial Officer and Executive Vice President
(Principal Financial Officer)
February 25, 2011
*/s/ Neil A. Cotty
Chief Accounting Officer
(Principal Accounting Officer)
February 25, 2011
*/s/ Susan S. Bies
Director
February 25, 2011
*/s/ William P. Boardman
Director
February 25, 2011
*/s/ Frank P. Bramble, Sr.
Director
February 25, 2011
*/s/ Virgis W. Colbert
Director
February 25, 2011
*/s/ Charles K. Gifford
Director
February 25, 2011
*/s/ Charles O. Holliday, Jr.
Director
February 25, 2011
*/s/ D. Paul Jones
Director
February 25, 2011
*/s/ Monica C. Lozano
Director
February 25, 2011
*/s/ Thomas J. May
Director
February 25, 2011
*/s/ Donald E. Powell
Director
February 25, 2011
Table of Contents
Signature
Title
Date
*/s/ Charles O. Rossotti
Director
February 25, 2011
*/s/ Robert W. Scully
Director
February 25, 2011
*By:
Attorney-in-Fact
Table of Contents
E-2
E-3
E-4
E-5
E-6
Exhibit No.
Description
Agreement and Plan of Merger dated as of September 15, 2008
by and between Merrill Lynch & Co., Inc. and the
registrant, incorporated by reference to Exhibit 2.1 of
registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed September 18, 2008.
Amended and Restated Certificate of Incorporation of registrant,
as in effect on the date hereof, incorporated by reference to
Exhibit 3(a) of the registrants Quarterly Report on
Form 10-Q
(File
No. 1-6523)
for the quarter ended March 31, 2010.
Amended and Restated Bylaws of registrant as of
February 24, 2011, filed herewith.
Indenture dated as of January 1, 1995 between registrant
(successor to NationsBank Corporation) and BankAmerica National
Trust Company incorporated by reference to Exhibit 4.1
of registrants Registration Statement on
Form S-3
(Registration
No. 33-57533)
filed on February 1, 1995; First Supplemental Indenture
thereto dated as of September 18, 1998, between registrant
and U.S. Bank Trust National Association (successor to
BankAmerica National Trust Company), incorporated by
reference to Exhibit 4.3 of registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed November 18, 1998; Second Supplemental Indenture
thereto dated as of May 7, 2001 between registrant, U.S.
Bank Trust National Association, as Prior Trustee, and The
Bank of New York, as Successor Trustee, incorporated by
reference to Exhibit 4.4 of registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed June 14, 2001; Third Supplemental Indenture thereto
dated as of July 28, 2004, between registrant and The Bank
of New York, incorporated by reference to Exhibit 4.2 of
registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed August 27, 2004; Fourth Supplemental Indenture
thereto dated as of April 28, 2006 between the registrant
and The Bank of New York, incorporated by reference to
Exhibit 4.6 of registrants Registration Statement on
Form S-3
(Registration
No. 333-133852)
filed on May 5, 2006; and Fifth Supplemental Indenture
dated as of December 1, 2008 between the registrant and The
Bank of New York Mellon Trust Company, N.A. (successor to
The Bank of New York), incorporated by reference to
Exhibit 4.1 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed December 5, 2008.
Form of Senior Registered Note, incorporated by reference to
Exhibit 4.7 of registrants Registration Statement on
Form S-3
(Registration
No. 333-133852)
filed on May 5, 2006.
Form of Global Senior Medium-Term Note, Series L,
incorporated by reference to Exhibit 4.12 of
registrants Registration Statement on
Form S-3
(Registration
No. 333-158663)
filed on April 20, 2009.
Indenture dated as of January 1, 1995 between registrant
(successor to NationsBank Corporation) and The Bank of New York,
incorporated by reference to Exhibit 4.5 of
registrants Registration Statement on
Form S-3
(Registration
No. 33-57533)
filed on February 1, 1995; First Supplemental Indenture
thereto dated as of August 28, 1998, between registrant and
The Bank of New York, incorporated by reference to
Exhibit 4.8 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed November 18, 1998; and Second Supplemental Indenture
thereto dated as of January 25, 2007, between registrant
and The Bank of New York Trust Company, N.A. (successor to
The Bank of New York), incorporated by reference to
Exhibit 4.3 of registrants Registration Statement on
Form S-4
(Registration
No. 333-141361)
filed on March 16, 2007.
Form of Subordinated Registered Note, incorporated by reference
to Exhibit 4.10 of registrants Registration Statement
on
Form S-3
(Registration
No. 333-133852)
filed on May 5, 2006.
Form of Global Subordinated Medium-Term Note, Series L,
incorporated by reference to Exhibit 4.17 of
registrants Registration Statement on
Form S-3
(Registration
No. 333-158663)
filed on April 20, 2009.
Amended and Restated Agency Agreement dated as of July 22,
2010, among the registrant, Bank of America, N.A., London
Branch, as Principal Agent, and Merrill Lynch International Bank
Limited, as Registrar and Transfer Agent, incorporated by
reference to Exhibit 4.1 of the registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed July 27, 2010.
Amended and Restated Senior Indenture dated as of July 1,
2001 between registrant and The Bank of New York, pursuant to
which registrant issued its Senior
InterNotes
sm
,
incorporated by reference to Exhibit 4.1 of
registrants Registration Statement on
Form S-3
(Registration
No. 333-65750)
filed on July 24, 2001.
Amended and Restated Subordinated Indenture dated as of
July 1, 2001 between registrant and The Bank of New York,
pursuant to which registrant issued its Subordinated
InterNotes
sm
,
incorporated by reference to Exhibit 4.2 of
registrants Registration Statement on
Form S-3
(Registration
No. 333-65750)
filed on July 24, 2001.
Restated Indenture dated as of November 1, 2001 between
registrant and The Bank of New York, incorporated by reference
to Exhibit 4.10 of amendment No. 1 to
registrants Registration Statement on
Form S-3
(Registration
No. 333-70984)
filed on November 15, 2001.
First Supplemental Indenture dated as of December 14, 2001
to the Restated Indenture dated as of November 1, 2001
between registrant and The Bank of New York pursuant to which
registrant issued its 7% Junior Subordinated Notes due 2031,
incorporated by reference to Exhibit 4.3 of
registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed December 14, 2001.
Second Supplemental Indenture dated as of January 31, 2002
to the Restated Indenture dated as of November 1, 2001
between registrant and The Bank of New York pursuant to which
registrant issued its 7% Junior Subordinated Notes due 2032,
incorporated by reference to Exhibit 4.3 of
registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed January 31, 2002.
Third Supplemental Indenture dated as of August 9, 2002 to
the Restated Indenture dated as of November 1, 2001 between
registrant and The Bank of New York pursuant to which registrant
issued its 7% Junior Subordinated Notes due 2032, incorporated
by reference to Exhibit 4.3 of registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed August 9, 2002.
Fourth Supplemental Indenture dated as of April 30, 2003 to
the Restated Indenture dated as of November 1, 2001 between
registrant and The Bank of New York pursuant to which registrant
issued its
5
7
/
8
%
Junior Subordinated Notes due 2033, incorporated by reference to
Exhibit 4.3 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed April 30, 2003.
E-1
Table of Contents
Exhibit No.
Description
Fifth Supplemental Indenture dated as of November 3, 2004
to the Restated Indenture dated as of November 1, 2001
between registrant and The Bank of New York pursuant to which
registrant issued its 6% Junior Subordinated Notes due 2034,
incorporated by reference to Exhibit 4.3 of
registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed November 3, 2004.
Sixth Supplemental Indenture dated as of March 8, 2005 to
the Restated Indenture dated as of November 1, 2001 between
the registrant and The Bank of New York pursuant to which
registrant issued its
5
5
/
8
%
Junior Subordinated Notes due 2035, incorporated by reference to
Exhibit 4.3 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed March 9, 2005.
Seventh Supplemental Indenture dated as of August 10, 2005
to the Restated Indenture dated as of November 1, 2001
between the registrant and The Bank of New York pursuant to
which registrant issued its
5
1
/
4
%
Junior Subordinated Notes due 2035, incorporated by reference to
Exhibit 4.3 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed August 11, 2005.
Eighth Supplemental Indenture dated as of August 25, 2005
to the Restated Indenture dated as of November 1, 2001
between the registrant and The Bank of New York pursuant to
which registrant issued its 6% Junior Subordinated Notes due
2035, incorporated by reference to Exhibit 4.3 of the
Current Report on
Form 8-K
(File
No. 1-6523)
filed August 26, 2005.
Tenth Supplemental Indenture dated as of March 28, 2006 to
the Restated Indenture dated as of November 1, 2001 between
the registrant and The Bank of New York pursuant to which
registrant issued its
6
1
/
4
%
Junior Subordinated Notes due 2055, incorporated by reference to
Exhibit 4(bb) of registrants 2006 Annual Report on
Form 10-K
(File
No. 1-6523)
(the 2006
10-K).
Eleventh Supplemental Indenture dated as of May 23, 2006 to
the Restated Indenture dated as of November 1, 2001 between
the registrant and The Bank of New York pursuant to which
registrant issued its
6
5
/
8
%
Junior Subordinated Notes due 2036, incorporated by reference to
Exhibit 4(cc) of the 2006
10-K.
Twelfth Supplemental Indenture dated as of August 2, 2006
to the Restated Indenture dated as of November 1, 2001
between the registrant and The Bank of New York pursuant to
which registrant issued its
6
7
/
8
%
Junior Subordinated Notes due 2055, incorporated by reference to
Exhibit 4(dd) of the 2006
10-K.
Thirteenth Supplemental Indenture dated as of February 16,
2007 to the Restated Indenture dated as of November 1, 2001
between the registrant and The Bank of New York
Trust Company, N.A. (successor to The Bank of New York)
pursuant to which registrant issued its Remarketable Floating
Rate Junior Subordinated Notes due 2043, incorporated by
reference to Exhibit 4.6 of registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed February 16, 2007.
Fourteenth Supplemental Indenture dated as of February 16,
2007 to the Restated Indenture dated as of November 1, 2001
between the registrant and The Bank of New York
Trust Company, N.A. (successor to The Bank of New York)
pursuant to which registrant issued its Remarketable Fixed Rate
Junior Subordinated Notes due 2043, incorporated by reference to
Exhibit 4.7 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed February 16, 2007.
Fifteenth Supplemental Indenture dated as of May 31, 2007
to the Restated Indenture dated as of November 1, 2001
between the registrant and The Bank of New York
Trust Company, N.A. (successor to The Bank of New York)
pursuant to which registrant issued its Floating Rate Junior
Subordinated Notes due 2056, incorporated by reference to
Exhibit 4.4 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed June 1, 2007.
Form of Supplemental Indenture to be used in connection with the
issuance of registrants junior subordinated notes,
including form of Junior Subordinated Note, incorporated by
reference to Exhibit 4.44 of registrants Registration
Statement on
Form S-3
(Registration
No. 333-133852)
filed on May 5, 2006.
Form of Guarantee with respect to capital securities to be
issued by various capital trusts, incorporated by reference to
Exhibit 4.47 of registrants Registration Statement on
Form S-3
(Registration
No. 333-133852)
filed on May 5, 2006.
Agreement of Appointment and Acceptance dated as of
December 29, 2006 between registrant and The Bank of New
York Trust Company, N.A., incorporated by reference to
Exhibit 4(aaa) of the 2006
10-K.
Global Agency Agreement dated as of July 25, 2007 among
Bank of America, N.A., Deutsche Bank Trust Company
Americas, Deutsche Bank AG, London Branch, and Deutsche Bank
Luxembourg S.A, incorporated by reference to Exhibit 4(x)
of registrants 2008 Annual Report on
Form 10-K
(File
No. 1-6523)
(the 2008
10-K).
Supplement to Global Agency Agreement dated as of
December 19, 2008 among Bank of America, N.A., Deutsche
Bank Trust Company Americas, Deutsche Bank AG, London
Branch and Deutsche Bank Luxembourg S.A, incorporated by
reference to Exhibit 4(y) of the 2008
10-K.
Supplement to Global Agency Agreement dated as of April 30,
2010 among Bank of America, N.A., Deutsche Bank
Trust Company Americas, Deutsche Bank AG, London Branch and
Deutsche Bank Luxembourg, S.A., incorporated by reference to
Exhibit 4(a) of the registrants Quarterly Report on
Form 10-Q
(File
No. 1-6523)
for the quarter ended June 30, 2010.
Sixth Supplemental Indenture dated as of February 23, 2011
to the Indenture dated as of January 1, 1995 between the
registrant and The Bank of New York Mellon Trust Company,
N.A., filed herewith.
Third Supplemental Indenture dated as of February 23, 2011
to the Indenture dated as of January 1, 1995 between the
registrant and The Bank of New York Mellon Trust Company,
N.A., filed herewith.
First Supplemental Indenture dated as of February 23, 2011
to the Amended and Restated Senior Indenture dated as of
July 1, 2001 between the registrant and The Bank of
New York Mellon Trust Company, N.A. (successor to The
Bank of New York ), filed herewith.
First Supplemental Indenture dated as of February 23, 2011
to the Amended and Restated Subordinated Indenture dated as of
July 1, 2001 between the registrant and The Bank of New
York Mellon Trust Company, N.A. (successor to The Bank of
New York), filed herewith.
Table of Contents
Exhibit No.
Description
The registrant and its subsidiaries have other long-term debt
agreements, but these are omitted pursuant
Item 601(b)(4)(iii) of
Regulation S-K.
Copies of these agreements will be furnished to the Commission
on request.
NationsBank Corporation and Designated Subsidiaries Supplemental
Executive Retirement Plan, incorporated by reference to
Exhibit 10(j) of registrants 1994 Annual Report on
Form 10-K
(File
No. 1-6523)
(the 1994
10-K);
Amendment thereto dated as of June 28, 1989, incorporated
by reference to Exhibit 10(g) of registrants 1989
Annual Report on
Form 10-K
(File
No. 1-6523)
(the 1989
10-K);
Amendment thereto dated as of June 27, 1990, incorporated
by reference to Exhibit 10(g) of registrants 1990
Annual Report on
Form 10-K
(File
No. 1-6523)
(the 1990
10-K);
Amendment thereto dated as of July 21, 1991, incorporated
by reference to Exhibit 10(bb) of registrants 1991
Annual Report on
Form 10-K
(File
No. 1-6523)
(the 1991
10-K);
Amendments thereto dated as of December 3, 1992 and
December 15, 1992, incorporated by reference to
Exhibit 10(l) of registrants 1992 Annual Report on
Form 10-K
(File
No. 1-6523)
(the 1992
10-K);
Amendment thereto dated as of September 28, 1994,
incorporated by reference to Exhibit 10(j) of
registrants 1994
10-K;
Amendments thereto dated March 27, 1996 and June 25,
1997, incorporated by reference to Exhibit 10(c) of
registrants 1997 Annual Report on
Form 10-K;
Amendments thereto dated April 10, 1998, June 24, 1998
and October 1, 1998, incorporated by reference to
Exhibit 10(b) of registrants 1998 Annual Report on
Form 10-K
(File
No. 1-6523)
(the 1998
10-K);
Amendment thereto dated December 14, 1999, incorporated by
reference to Exhibit 10(b) of registrants 1999 Annual
Report on
Form 10-K;
Amendment thereto dated as of March 28, 2001, incorporated
by reference to Exhibit 10(b) of registrants 2001
Annual Report on
Form 10-K
(File
No. 1-6523)
(the 2001
10-K);
and Amendment thereto dated December 10, 2002, incorporated
by reference to Exhibit 10(b) of registrants 2002
Annual Report on
Form 10-K
(File
No. 1-6523)
(the 2002
10-K).*
NationsBank Corporation and Designated Subsidiaries Deferred
Compensation Plan for Key Employees, incorporated by reference
to Exhibit 10(k) of the 1994
10-K;
Amendment thereto dated as of June 28, 1989, incorporated
by reference to Exhibit 10(h) of the 1989
10-K;
Amendment thereto dated as of June 27, 1990, incorporated
by reference to Exhibit 10(h) of the 1990
10-K;
Amendment thereto dated as of July 21, 1991, incorporated
by reference to Exhibit 10(bb) of the 1991
10-K;
Amendment thereto dated as of December 3, 1992,
incorporated by reference to Exhibit 10(m) of the 1992
10-K;
and
Amendments thereto dated April 10, 1998 and October 1,
1998, incorporated by reference to Exhibit 10(b) of the
1998
10-K.*
Bank of America Pension Restoration Plan, as amended and
restated effective January 1, 2009, incorporated by
reference to Exhibit 10(c) of registrants 2008
10-K;
Amendment thereto dated December 18, 2009, incorporated by
reference to Exhibit 10(c) of the registrants 2009
Annual Report on
Form 10-K
(File
No. 1-6523)
(the 2009
10-K);
and Amendment thereto dated December 16, 2010, filed
herewith.*
NationsBank Corporation Benefit Security Trust dated as of
June 27, 1990, incorporated by reference to
Exhibit 10(t) of the 1990
10-K;
First
Supplement thereto dated as of November 30, 1992,
incorporated by reference to Exhibit 10(v) of the 1992
10-K;
and
Trustee Removal/Appointment Agreement dated as of
December 19, 1995, incorporated by reference to
Exhibit 10(o) of registrants 1995 Annual Report on
Form 10-K
(File
No. 1-6523).*
Bank of America 401(k) Restoration Plan, as amended and restated
effective January 1, 2009, incorporated by reference to
Exhibit 10(a) of registrants Quarterly Report on
Form 10-Q
(File
No. 1-6523)
for the quarter ended September 30, 2009; Amendment thereto
dated December 18, 2009, incorporated by reference to
Exhibit 10(e) of the 2009
10-K;
and
Amendment thereto dated December 16, 2010, filed herewith
in Exhibit 10(c).*
Bank of America Executive Incentive Compensation Plan, as
amended and restated effective December 10, 2002,
incorporated by reference to Exhibit 10(g) of the 2002
10-K.*
Bank of America Director Deferral Plan, as amended and restated
effective January 1, 2005, incorporated by reference to
Exhibit 10(g) of the registrants 2006
10-K.*
Bank of America Corporation Directors Stock Plan as
amended and restated effective April 26, 2006, incorporated
by reference to Exhibit 10.2 to the registrants
Current Report on
Form 8-K
filed December 14, 2005; form of Restricted Stock Award
Agreement incorporated by reference to Exhibit 10(h) of
registrants 2004 Annual Report on
Form 10-K
(File
No. 1-6523)
(the 2004
10-K);
and Form of Directors Stock Plan Restricted Stock Award
Agreement for Nonemployee Chairman, incorporated by reference to
Exhibit 10(b) of registrants Quarterly Report on
Form 10-Q
(File
No. 1-6523)
for the quarter ended September 30, 2009.
Table of Contents
Exhibit No.
Description
Amendment to various plans in connection with FleetBoston
Financial Corporation merger, incorporated by reference to
Exhibit 10(v) of registrants 2003 Annual Report on
Form 10-K.*
FleetBoston Supplemental Executive Retirement Plan, as amended
by Amendment One thereto effective January 1, 1997,
Amendment Two thereto effective October 15, 1997, Amendment
Three thereto effective July 1, 1998, Amendment Four
thereto effective August 15, 1999, Amendment Five thereto
effective January 1, 2000, Amendment Six thereto effective
October 10, 2001, Amendment Seven thereto effective
February 19, 2002, Amendment Eight thereto effective
October 15, 2002, Amendment Nine thereto effective
January 1, 2003, Amendment Ten thereto effective
October 21, 2003, and Amendment Eleven thereto effective
December 31, 2004, incorporated by reference to
Exhibit 10(r) of the 2004
10-K.*
FleetBoston Amended and Restated 1992 Stock Option and
Restricted Stock Plan, incorporated by reference to
Exhibit 10(s) of the 2004
10-K.*
FleetBoston Executive Deferred Compensation Plan No. 2, as
amended by Amendment One thereto effective February 1,
1999, Amendment Two thereto effective January 1, 2000,
Amendment Three thereto effective January 1, 2002,
Amendment Four thereto effective October 15, 2002,
Amendment Five thereto effective January 1, 2003, and
Amendment Six thereto effective December 16, 2003,
incorporated by reference to Exhibit 10(u) of the 2004
10-K.*
FleetBoston Executive Supplemental Plan, as amended by Amendment
One thereto effective January 1, 2000, Amendment Two
thereto effective January 1, 2002, Amendment Three thereto
effective January 1, 2003, Amendment Four thereto effective
January 1, 2003, and Amendment Five thereto effective
December 31, 2004, incorporated by reference to
Exhibit 10(v) of the 2004
10-K.*
Retirement Income Assurance Plan for Legacy Fleet, as amended
and restated effective January 1, 2009, incorporated by
reference to Exhibit 10(p) of the 2009
10-K;
and
Amendment thereto dated December 16, 2010, filed herewith
in Exhibit 10(c).*
Trust Agreement for the FleetBoston Executive Deferred
Compensation Plans No. 1 and 2, incorporated by reference
to Exhibit 10(x) of the 2004
10-K.
Trust Agreement for the FleetBoston Executive Supplemental
Plan, incorporated by reference to Exhibit 10(y) of the
2004
10-K.*
Trust Agreement for the FleetBoston Retirement Income
Assurance Plan and the FleetBoston Supplemental Executive
Retirement Plan, incorporated by reference to Exhibit 10(z)
of the 2004
10-K.*
FleetBoston Directors Deferred Compensation and Stock Unit Plan,
as amended by an amendment thereto effective as of July 1,
2000, a Second Amendment thereto effective as of January 1,
2003, a Third Amendment thereto dated April 14, 2003, and a
Fourth Amendment thereto effective January 1, 2004,
incorporated by reference to Exhibit 10(aa) of the 2004
10-K.*
FleetBoston 1996 Long-Term Incentive Plan, incorporated by
reference to Exhibit 10(bb) of the 2004
10-K.*
BankBoston Corporation and its Subsidiaries Deferred
Compensation Plan, as amended by a First Amendment thereto, a
Second Amendment thereto, a Third Amendment thereto, an
Instrument thereto (providing for the cessation of accruals
effective December 31, 2000) and an Amendment thereto
dated December 24, 2001, incorporated by reference to
Exhibit 10(cc) of the 2004
10-K.*
BankBoston, N.A. Bonus Supplemental Employee Retirement Plan, as
amended by a First Amendment, a Second Amendment, a Third
Amendment and a Fourth Amendment thereto, incorporated by
reference to Exhibit 10(dd) of the 2004
10-K.*
Description of BankBoston Supplemental Life Insurance Plan,
incorporated by reference to Exhibit 10(ee) of the 2004
10-K.*
BankBoston, N.A. Excess Benefit Supplemental Employee Retirement
Plan, as amended by a First Amendment, a Second Amendment, a
Third Amendment thereto (assumed by FleetBoston on
October 1, 1999) and an Instrument thereto,
incorporated by reference to Exhibit 10(ff) of the 2004
10-K.*
Description of BankBoston Supplemental Long-Term Disability
Plan, incorporated by reference to Exhibit 10(gg) of the
2004
10-K.*
BankBoston Director Stock Award Plan, incorporated by reference
to Exhibit 10(hh) of the 2004
10-K.*
Table of Contents
Exhibit No.
Description
BankBoston Directors Deferred Compensation Plan, as amended by a
First Amendment and a Second Amendment thereto, incorporated by
reference to Exhibit 10(ii) of the 2004
10-K.*
BankBoston, N.A. Directors Deferred Compensation Plan, as
amended by a First Amendment and a Second Amendment thereto,
incorporated by reference to Exhibit 10(jj) of the 2004
10-K.*
BankBoston 1997 Stock Option Plan for Non-Employee Directors, as
amended by an amendment thereto dated as of October 16,
2001, incorporated by reference to Exhibit 10(kk) of the
2004
10-K.*
Description of BankBoston Director Retirement Benefits Exchange
Program, incorporated by reference to Exhibit 10(ll) of the
2004
10-K.*
Employment Agreement, dated as of March 14, 1999, between
FleetBoston and Charles K. Gifford, as amended by an amendment
thereto effective as of February 7, 2000, a Second
Amendment thereto effective as of April 22, 2002, and a
Third Amendment thereto effective as of October 1, 2002,
incorporated by reference to Exhibit 10(mm) of the 2004
10-K.*
Form of Change in Control Agreement entered into with Charles K.
Gifford, incorporated by reference to Exhibit 10(nn) of the
2004
10-K.*
Global amendment to definition of change in control
or change of control, together with a list of plans
affected by such amendment, incorporated by reference to
Exhibit 10(oo) of the 2004
10-K.*
Retirement Agreement dated January 26, 2005 between Bank of
America Corporation and Charles K. Gifford, incorporated by
reference to Exhibit 10.1 to the registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed January 26, 2005.*
Amendment to various FleetBoston stock option awards, dated
March 25, 2004, incorporated by reference to
Exhibit 10(ss) of the 2004
10-K.*
Merrill Lynch & Co., Inc. Employee Stock Compensation
Plan, incorporated by reference to Exhibit 10(rr) of the
2008
10-K,
and 2009 Restricted Stock Unit Award Agreement for Thomas K.
Montag, incorporated by reference to Exhibit 10(qq) of the
2009
10-K.*
Employment Agreement dated October 27, 2003 between Bank of
America Corporation and Brian T. Moynihan, incorporated by
reference to Exhibit 10(d) of registrants
Registration Statement on
Form S-4
(Registration
No. 333-110924)
filed on December 4, 2003.*
Cancellation Agreement dated October 26, 2005 between Bank
of America Corporation and Brian T. Moynihan, incorporated by
reference to Exhibit 10.1 of registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed October 26, 2005.*
Agreement Regarding Participation in the Fleet Boston
Supplemental Executive Retirement Plan dated October 26,
2005 between Bank of America Corporation and Brian T. Moynihan,
incorporated by reference to Exhibit 10.2 of
registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed October 26, 2005.*
Forms of Stock Unit Agreements for salary stock units awarded to
certain executive officers in connection with registrants
participation in the U.S. Department of Treasurys Troubled
Asset Relief Program, incorporated by reference to
Exhibit 10(uu) of the 2009
10-K.*
Boatmens Supplemental Retirement Plan, effective as of
August 8, 1989, incorporated by reference to
Exhibit 10(vv) of the 2009
10-K.*
Employment Agreement dated January 30, 1996 between
Boatmens Bancshares, Inc. and Gregory L. Curl,
incorporated by reference to Exhibit 10(ww) of the 2009
10-K.*
Employment Agreement dated September 26, 1996 between
NationsBank Corporation and Gregory L. Curl, incorporated by
reference to Exhibit 10(xx) of the 2009
10-K.*
Employment Letter dated May 7, 2001 between Bank of America
Corporation and Gregory L. Curl, incorporated by reference to
Exhibit 10(yy) of the 2009
10-K.*
Bank of America Corporation Equity Incentive Plan amended and
restated effective as of January 1, 2008, incorporated by
reference to Exhibit 10(zz) of the 2009
10-K.*
Merrill Lynch & Co., Inc. Long-Term Incentive
Compensation Plan amended as of January 1, 2009 and 2008
Restricted Units/Stock Option Grant Document for Thomas K.
Montag, incorporated by reference to Exhibit 10(aaa) of the
2009
10-K.*
Employment Letter dated May 1, 2008 between Merrill
Lynch & Co., Inc. and Thomas K. Montag and Summary of
Agreement with respect to Post-Employment Medical Coverage,
incorporated by reference to Exhibit 10(bbb) of the 2009
10-K.*
Amendment to various plans as required to the extent necessary
to comply with Section III of the Emergency Economic
Stabilization Act of 2008 (EESA) and form of waiver for any
changes to compensation or benefits required to comply with the
EESA, all in connection with the registrants
October 26, 2008 participation in the U.S. Department of
Treasurys Troubled Assets Relief Program, incorporated by
reference to Exhibit 10(ss) of the 2008
10-K.*
Further amendment to various plans and further form of waiver
for any changes to compensation or benefits in connection with
the registrants January 15, 2009 participation in the
U.S. Department of Treasurys Troubled Assets Relief
Program, incorporated by reference to Exhibit 10(tt) of the
2008
10-K.*
Letter Agreement, dated October 26, 2008, between the
registrant and U.S. Department of the Treasury, with respect to
the issuance and sale of registrants Fixed Rate Cumulative
Perpetual Preferred Stock, Series N and a warrant to
purchase common stock, incorporated by reference to
Exhibit 10.1 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed October 30, 2008.
Table of Contents
Exhibit No.
Description
Letter Agreement, dated January 9, 2009, between the
registrant and U.S. Department of the Treasury, with respect to
the issuance and sale of registrants Fixed Rate Cumulative
Perpetual Preferred Stock, Series Q and a warrant to
purchase common stock, incorporated by reference to
Exhibit 10.1 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed January 13, 2009.
Securities Purchase Agreement, dated January 15, 2009,
between the registrant and U.S. Department of the Treasury, with
respect to the issuance and sale of registrants Fixed Rate
Cumulative Perpetual Preferred Stock, Series R and a
warrant to purchase common stock, incorporated by reference to
Exhibit 10.1 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed January 22, 2009.
Summary of Terms, dated January 15, 2009, incorporated by
reference to Exhibit 10.2 of registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed January 22, 2009.
Letter Agreement dated December 9, 2009 between the
registrant and the U.S. Department of the Treasury, amending the
Securities Purchase Agreement dated January 9, 2009,
incorporated by reference to Exhibit 10(iii) of the 2009
10-K.
Letter Agreement dated December 9, 2009 between the
registrant and the U.S. Department of the Treasury, amending the
Securities Purchase Agreement dated January 15, 2009,
incorporated by reference to Exhibit 10(jjj) of the 2009
10-K.
Retention Award Letter Agreement with Bruce R. Thompson dated
January 26, 2009, filed herewith.*
Offer letter between Bank of America Corporation and Sallie L.
Krawcheck dated August 3, 2009, filed herewith.*
Letter Agreement dated February 22, 2010 between the
registrant and Gregory L. Curl, incorporated by reference to
Exhibit 10(c) of registrants Quarterly Report on
Form 10-Q
(File No. 1-6523) for the quarter ended March 31, 2010.
Offer letter between Bank of America Corporation and Charles H.
Noski dated April 13, 2010, incorporated by reference to
Exhibit 10.1 of registrants Current Report on
Form 8-K
(File
No. 1-6523)
filed April 16, 2010.*
Form of Cash Settled Stock Unit Award Agreement, incorporated by
reference to Exhibit 10.2 of registrants Current
Report on
Form 8-K
(File
No. 1-6523)
filed January 31, 2011.*
Form of Cash Settled Stock Unit Award Agreement (February 2011
grant), filed herewith.*
Aircraft Time Sharing Agreement (Multiple Aircraft) dated
February 24, 2011 between Bank of America, N. A. and Brian
T. Moynihan, filed herewith.*
Form of Bank of America Corporation Long-Term Cash Award
Agreement for non-executives (February 2009 EIP award), filed
herewith.*
Form of Bank of America Corporation Long-Term Cash Award
Agreement for non-executives (February 2009 APP award), filed
herewith.*
Ratio of Earnings to Fixed Charges, filed herewith.
Ratio of Earnings to Fixed Charges and Preferred Dividends,
filed herewith.
List of Subsidiaries, filed herewith.
Consent of PricewaterhouseCoopers LLP, filed herewith.
Power of Attorney, filed herewith.
Corporate Resolution, filed herewith.
Certification of the Chief Executive Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002, filed
herewith.
Certification of the Chief Financial Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002, filed
herewith.
Certification of the Chief Executive Officer pursuant to
18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, filed
herewith.
Certification of the Chief Financial Officer pursuant to
18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, filed
herewith.
XBRL Instance Document, filed herewith
(1)
XBRL Taxonomy Extension Schema Document, filed herewith
(1)
XBRL Taxonomy Extension Calculation Linkbase Document, filed
herewith
(1)
XBRL Taxonomy Extension Label Linkbase Document, filed herewith
(1)
XBRL Taxonomy Extension Presentation Linkbase Document, filed
herewith
(1)
XBRL Taxonomy Extension Definitions Linkbase Document, filed
herewith
(1)
*
Exhibit is a management contract or
a compensatory plan or arrangement.
(1)
These interactive data files shall
not be deemed filed for purposes of Section 11 or 12 of the
Securities Act of 1933, as amended, or Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise be
subject to liability under those sections.
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(a) | the name and address of the stockholder and the beneficial owner, if any, on whose behalf the nomination or proposal is made, as they appear on the Corporations books; | ||
(b) | a representation that the stockholder is a holder of record of the Corporations stock (including the number and class of shares which are owned beneficially and of record by such stockholder and such beneficial owner), entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to propose such business or nomination | ||
(c) | whether and the extent to which any hedging or other transaction or series of transactions has been entered into by or on behalf of, or any other agreement, arrangement or understanding (including any short positions or any borrowing or lending of shares of stock) has been made, the effect or intent of which is to mitigate loss to or manage risk of stock price changes for, or to increase or decrease the voting power of, such stockholder or any such beneficial owner with respect to any share of stock of the Corporation; | ||
(d) | a representation whether the stockholder or the beneficial owner, if any, intends or is part of a group which intends (a) to deliver a proxy statement and/or form of proxy to holders of at least the percentage of the Corporations outstanding capital stock required to approve or adopt the proposal or elect the nominee and/or (b) otherwise to solicit proxies from Stockholders in support of such proposal or nomination; | ||
(e) | as to each person whom the stockholder proposes to nominate for election as a director, a description of all arrangements or understandings among the stockholder or the beneficial owner, if any, and each nominee and any other person or persons (naming such person or persons) pursuant to which the nomination or nominations are to be made by the stockholder, and such persons written consent to being named in the proxy statement as a nominee and to serving as a director if elected; | ||
(f) | as to each person whom the stockholder proposes to nominate for election as a director, all information regarding each nominee that would be required to be disclosed in solicitations of proxies for election of directors in an election contest pursuant to Regulation 14A under the Exchange Act; and | ||
(g) | as to any other business that the stockholder proposes to bring before the meeting, a brief description of the business desired to be brought before the meeting, the text of the proposal or business (including the text of any resolutions proposed for consideration and in the event that such business includes a proposal to amend the Bylaws of the Corporation, the language of the proposed amendment), the reasons for conducting such business at the meeting and any material interest in such |
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business of such stockholder and the beneficial owner, if any, on whose behalf the proposal is made. |
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(a) | when received; | ||
(b) | upon its deposit in the United States mail, as evidenced by the postmark, if mailed with postage thereon prepaid and correctly addressed; | ||
(c) | If by facsimile or other electronic transmission, by acknowledgment of the electronic transmission; or | ||
(d) | on the date shown on the confirmation of delivery issued by a private carrier, if sent by private carrier to the address of the director last known to the Corporation. |
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(i) | The present definition of Business Day is hereby amended by inserting the words to be closed at the end thereof. | ||
(ii) | The present definition of Company Request, Company Order and Company Consent, as the same was amended and restated pursuant to the First Supplemental Indenture, is hereby deleted in its entirety and replaced with the following: |
(iii) | The present definition of Officers Certificate, as the same was amended and restated pursuant to the First Supplemental Indenture, is hereby deleted in its entirety and replaced with the following: |
(iv) | The present definition of Person is hereby amended by adding the words limited liability company, after corporation and before partnership. |
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BANK OF AMERICA CORPORATION
|
||||
By: | /S/ ANGELA C. JONES | |||
Name: | Angela C. Jones | |||
Title: | Senior Vice President | |||
THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A. as Trustee |
||||
By: | /S/ TINA D. GONZALEZ | |||
Name: | Tina D. Gonzalez | |||
Title: | Vice President | |||
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(i) | The present definition of Company Request, Company Order and Company Consent, as the same was amended and restated pursuant to the First Supplemental Indenture, is hereby deleted in its entirety and replaced with the following: |
(ii) | The present definition of Officers Certificate, as the same was amended and restated pursuant to the First Supplemental Indenture, is hereby deleted in its entirety and replaced with the following: |
(iii) | The present definition of Person is hereby amended by adding the words limited liability company, after corporation and before partnership. |
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BANK OF AMERICA CORPORATION
|
||||
By: | /S/ ANGELA C. JONES | |||
Name: | Angela C. Jones | |||
Title: | Senior Vice President | |||
THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A. as Trustee |
||||
By: | /S/ TINA D. GONZALEZ | |||
Name: | Tina D. Gonzalez | |||
Title: | Vice President | |||
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(i) | The present definition of Authorized Officer is hereby deleted in its entirety and replaced with the following: |
(ii) | The present definition of Officers Certificate is hereby deleted in its entirety and replaced with the following: |
(iii) | The present definition of Person is hereby amended by adding the words limited liability company, after corporation and before partnership. |
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BANK OF AMERICA CORPORATION
|
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By: | /S/ ANGELA C. JONES | |||
Name: | Angela C. Jones | |||
Title: | Senior Vice President | |||
THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A. as Trustee |
||||
By: | /S/ TINA D. GONZALEZ | |||
Name: | Tina D. Gonzalez | |||
Title: | Vice President | |||
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(i) | The present definition of Authorized Officer is hereby deleted in its entirety and replaced with the following: |
(ii) | The present definition of Officers Certificate is hereby deleted in its entirety and replaced with the following: |
(iii) | The present definition of Person is hereby amended by adding the words limited liability company, after corporation and before partnership. |
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BANK OF AMERICA CORPORATION
|
||||
By: | /S/ ANGELA C. JONES | |||
Name: | Angela C. Jones | |||
Title: | Senior Vice President | |||
THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A. as Trustee |
||||
By: | /S/ TINA D. GONZALEZ | |||
Name: | Tina D. Gonzalez | |||
Title: | Vice President | |||
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Dated: December 16, 2010 |
BANK OF AMERICA CORPORATION
|
|||
By: | /s/ Mark S. Behnke | |||
Mark S. Behnke | ||||
Global Compensation, Benefits and
Shared Services Executive |
||||
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1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. | |
2. | Print the Award Agreement and file it with your important papers. | |
3. | Sign the Award Agreement and return a signed copy to Randall Morrow at 100 North Tryon Street, Charlotte, NC 28255-0001, Mailstop NC1-007-21-21. | |
4. | Designate a beneficiary for an award of Restricted Stock Units by completing a Beneficiary Designation Form and returning to Randall Morrow at the same address noted above. |
* | Includes any subsidiaries and affiliates of the listed entities |
NUMBER OF RESTRICTED | ||||
GRANTED TO | GRANT DATE | STOCK UNITS | ||
Sallie L. Krawcheck | January 15, 2010 | 180,723 |
1. | Subject to the terms and conditions of the Stock Plan and this Agreement, Bank of America awards to you the number of Restricted Stock Units shown above. Each Restricted Stock Unit shall have a value equal to the Fair Market Value of one (1) share of Bank of America common stock. | |
2. | You acknowledge having read the Prospectus and agree to be bound by all the terms and conditions of the Stock Plan and this Agreement. | |
3. | If a cash dividend is paid with respect to Bank of America common stock, a cash dividend equivalent equal to the total cash dividend you would have received had your Restricted Stock Units been actual shares of Bank of America common stock will be accumulated and paid in cash through payroll when the Restricted Stock Units become earned and payable. Dividend equivalents are credited with interest at the three-year constant maturity Treasury rate in effect on the date of grant until the payment date. | |
4. | The Restricted Stock Units covered by this Award shall become earned by, and payable to, you in the amounts and on the dates shown on the enclosed Exhibit A. | |
5. | You agree that you shall comply with (or provide adequate assurance as to future compliance with) all applicable securities laws and income tax laws as determined by Bank of America as a condition precedent to the delivery of any shares of Bank of America common stock pursuant to this Agreement. In addition, you agree that, upon request, you will furnish a letter agreement providing that (i) you will not distribute or resell any of said shares in violation of the Securities Act of 1933, as |
amended, (ii) you will indemnify and hold Bank of America harmless against all liability for any such violation and (iii) you will accept all liability for any such violation. | ||
6. | You agree that the Restricted Stock Units covered by this Agreement are subject to the Incentive Compensation Recoupment Policy set forth in the Bank of America Corporate Governance Guidelines. To the extent allowed by and consistent with applicable law and any applicable limitations period, if it is determined at any time that you have engaged in Detrimental Conduct or engaged in any hedging or derivative transactions involving Bank of America common stock that would undermine the long-term performance incentives created by the Restricted Stock Units, Bank of America will be entitled to recover from you in its sole discretion some or all of the Restricted Stock Units covered by this Agreement. You recognize that if you engage in Detrimental Conduct or any hedging or derivative transactions involving Bank of America common stock, the losses to Bank of America and/or its Subsidiaries may amount to the full value of your Restricted Stock Units. | |
7. | By executing and returning a Beneficiary Designation Form, you may designate a beneficiary to receive payment in connection with the Restricted Stock Units awarded hereunder in the event of your death while in service with Bank of America or its Subsidiaries. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate. A Beneficiary Designation Form has been included in your Award package. | |
8. | The existence of this Award shall not affect in any way the right or power of Bank of America or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Bank of Americas capital structure or its business, or any merger or consolidation of Bank of America, or any issue of bonds, debentures, preferred or prior preference stocks ahead of or convertible into, or otherwise affecting the Bank of America common stock or the rights thereof, or the dissolution or liquidation of Bank of America, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. | |
9. | Bank of America may, in its sole discretion, decide to deliver any documents related to this grant or future Awards that may be granted under the Stock Plan by electronic means or request your consent to participate in the Stock Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested, agree to participate in the Stock Plan through an on-line or electronic system established and maintained by Bank of America or another third party designated by Bank of America. | |
Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your electronic mail or postal address as shown on the records of Bank of America from time to time, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time. | ||
10. | Regardless of any action Bank of America or your employer takes with respect to any or all income tax, payroll tax or other tax-related withholding (Tax-Related Items), you acknowledge that the ultimate liability for all Tax-Related Items owed by you is and remains your responsibility and that Bank of America and/or your employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the grant of Restricted Stock Units, including the grant and vesting of the Restricted Stock Units, the subsequent sale of Shares acquired upon the vesting of the Restricted Stock Units and the receipt of any dividends; and (ii) do not commit to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate your liability for Tax-Related Items. |
In the event Bank of America determines that it and/or your employer must withhold any Tax-Related Items as a result of your participation in the Stock Plan, you agree as a condition of the grant of the Restricted Stock Units to make arrangements satisfactory to Bank of America and/or your employer to enable it to satisfy all withholding requirements, including, but not limited to, withholding any applicable Tax-Related Items from the pay-out of the Restricted Stock Units. In addition, you authorize Bank of America and/or your employer to fulfill its withholding obligations by all legal means, including, but not limited to: withholding Tax-Related Items from your wages, salary or other cash compensation your employer pays to you; withholding Tax-Related Items from the cash proceeds, if any, received upon sale of any Shares received in payment for your Restricted Stock Units; and at the time of payment, withholding Shares sufficient to meet minimum withholding obligations for Tax-Related Items. Bank of America may refuse to issue and deliver Shares in payment of any earned Restricted Stock Units if you fail to comply with any withholding obligation. | ||
11. | The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States, as provided in the Stock Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be performed, and no other courts. | |
12. | In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding the Restricted Stock Units. Any prior agreements, commitments or negotiations concerning the Restricted Stock Units are superseded. Subject to the terms of the Stock Plan, this Agreement may only be amended by a written instrument signed by both parties. | |
13. | If you move to any country outside of the United States during the term of your Award, additional terms and conditions may apply to your Award. Bank of America reserves the right to impose other requirements on the Award to the extent Bank of America determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Award and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. |
BANK OF AMERICA CORPORATION | ASSOCIATE | |||||||
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By:
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/s/ Sallie L. Krawcheck
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(i) | Death . Any unearned Restricted Stock Units shall become immediately earned as of the date of your termination of employment if your termination is due to death. To the extent that your Restricted Stock Units become earned as a result of your termination of employment due to death, they shall be payable as soon as administratively practicable after the date of your death, generally within 30 days after notification of termination from the payroll system. | ||
(ii) | Disability . If your employment is terminated by Bank of America or its Subsidiaries due to your Disability, then your Restricted Stock Units shall continue to become earned and payable at such time as provided in the Payment Schedule described in paragraph (a) (without regard to whether you are employed by Bank of America and its Subsidiaries), subject to your complying with the covenants set forth in paragraph (c) of Exhibit A of this Agreement other than Non-Competition. | ||
(iii) | Workforce Reduction or Divestiture . If your employment is terminated by Bank of America or its Subsidiaries due to Workforce Reduction or Divestiture, then your Restricted Stock Units shall continue to become earned and payable at such time as provided in the Payment Schedule described in paragraph (a) (without regard to whether you are employed by Bank of America and its Subsidiaries), subject to your complying with the covenants set forth in paragraph (c) of Exhibit A of this Agreement other than Non-Competition. | ||
(iv) | Other Termination by Bank of America Without Cause . If your employment is terminated by Bank of America or its Subsidiaries without Cause (other than Workforce Reduction or Divestiture), then your Restricted Stock Units shall continue to become earned and payable at such time as provided in the Payment Schedule described in paragraph (a) (without regard to whether you are employed by Bank of America and its Subsidiaries), subject to your complying with the covenants set forth in paragraph (c) of Exhibit A of this Agreement (including Non-Competition). |
(v) | Termination by Bank of America With Cause . If your employment is terminated by your employer with Cause, then any unearned Restricted Stock Units shall be immediately canceled as of your employment termination date. | ||
(vi) | Termination by You . If you voluntarily terminate your employment, then any unearned Restricted Stock Units shall be immediately canceled as of your employment termination date. |
(i) | Non-Solicitation . You agree that during any period in which Restricted Stock Units remain payable, you will not directly or indirectly solicit or recruit for employment or encourage to leave employment with Bank of America or its Subsidiaries, on your own behalf or on behalf of any other person or entity other than Bank of America or its Subsidiaries any person who is an associate of Bank of America and its Subsidiaries. You further agree that during any period in which Restricted Stock Units remain payable, you will not, directly or indirectly, on your own behalf or on behalf of any other person or entity other than Bank of America or its Subsidiaries, solicit any client or customer of Bank of America and its Subsidiaries which you actively solicited or with whom you worked or otherwise had material contact in the course of your employment with Bank of America and its Subsidiaries. | ||
(ii) | Non-Competition . You agree that during any period in which Restricted Stock Units remain payable following termination by Bank of America without Cause (other than Workforce Reduction or Divestiture), you will not engage in Competition. | ||
(iii) | Detrimental Conduct . You agree that during any period in which Restricted Stock Units remain payable, you will not engage in Detrimental Conduct. | ||
(iv) | Hedging or Derivative Transactions . You agree that during any period in which Restricted Stock Units remain payable, you will not engage in any hedging or derivative transactions involving Bank of America common stock that would undermine the long-term performance incentives created by the Restricted Stock Units. | ||
(v) | Remedies . Payment of any Restricted Stock Units in accordance with the schedule set forth in paragraph (a) above is specifically conditioned on the requirement that (A) at all times prior to the Payment Date, you do not engage in solicitation, Competition, Detrimental Conduct or hedging or derivative transactions involving Bank of America common stock, as described in Paragraphs (c)(i), (ii), (iii) and (iv) during such period and (B) in case of termination by Bank of America without Cause (other than Workforce Reduction or Divestiture) prior to each of the first, second and third anniversary of the Grant Date, you provide Bank of America with a written certification that you have not engaged in Competition. To be effective, such certification must be provided on such form, at such time and pursuant to such procedures as Bank of America shall establish from time to time. If Bank of America determines in its reasonable business judgment that you have failed to satisfy either of the foregoing requirements, then any Restricted Stock Units that have not yet been paid shall be immediately cancelled as of the date of such determination. |
Name of Beneficiary | Birthdate | Address | Relationship | |||
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| Rule 1 . The death benefits shall be paid in equal shares to those named Beneficiaries (either Primary or Secondary, as applicable) who survive me. |
| Rule 2 . The death benefits shall be paid in equal shares to those named Beneficiaries (either Primary or Secondary, as applicable) who survive me and to the surviving issue collectively of each named Beneficiary (either Primary or Secondary, as applicable) who does not survive me but who leaves issue surviving me, with the equal share for such surviving issue of such deceased named Beneficiary to be divided among and paid to such issue on a per stirpes basis. (Issue means lineal descendants and includes adopted persons.) |
Signature of Participant:
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Date: | |||||
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Name of Participant (please print): |
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Participants Person Number: |
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1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. | |
2. | Print the Award Agreement and file it with your important papers. | |
3. | Accept your Award Agreement through the online acceptance process.* |
* | If you do not accept your Award Agreement through the online acceptance process by November 15, 2010, or such other date that may be communicated, Bank of America will automatically accept the Award Agreement on your behalf. |
NUMBER OF RESTRICTED | ||||||||
GRANTED TO | GRANT DATE | STOCK UNITS | ||||||
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1. | Subject to the terms and conditions of the Stock Plan and this Agreement, Bank of America awards to you the number of Restricted Stock Units shown above. Each Restricted Stock Unit shall have a value equal to the Fair Market Value of one (1) share of Bank of America common stock. | |
2. | You acknowledge having read the Prospectus and agree to be bound by all the terms and conditions of the Stock Plan and this Agreement. | |
3. | The Restricted Stock Units covered by this Award shall become earned by, and payable to, you in the amounts and on the dates shown on the enclosed Exhibit A. | |
4. | If a cash dividend is paid with respect to Bank of America common stock, a cash dividend equivalent equal to the total cash dividend you would have received had your Restricted Stock Units been actual shares of Bank of America common stock will be accumulated and paid in cash through payroll when the Restricted Stock Units become earned and payable. Dividend equivalents are credited with interest at the three-year constant maturity Treasury rate in effect on the date of grant until the payment date. | |
5. | You agree that you shall comply with (or provide adequate assurance as to future compliance with) all applicable securities laws and income tax laws as determined by Bank of America as a condition precedent to the delivery of any shares of Bank of America common stock pursuant to this Agreement. In addition, you agree that, upon request, you will furnish a letter agreement providing that (i) you will not distribute or resell any of said shares in violation of the Securities Act of 1933, as amended, (ii) you will indemnify and hold Bank of America harmless against all liability for any such violation and (iii) you will accept all liability for any such violation. |
6. | You agree that the Award covered by this Agreement is subject to the Incentive Compensation Recoupment Policy set forth in the Bank of America Corporate Governance Guidelines. To the extent allowed by and consistent with applicable law and any applicable limitations period, if it is determined at any time that you have engaged in Detrimental Conduct or engaged in any hedging or derivative transactions involving Bank of America common stock in violation of the Bank of America Corporation Code of Ethics that would undermine the long-term performance incentives created by the Award, Bank of America will be entitled to recover from you in its sole discretion some or all of the Restricted Stock Units covered by this Agreement. You recognize that if you engage in Detrimental Conduct or any hedging or derivative transactions involving Bank of America common stock, the losses to Bank of America and/or its Subsidiaries may amount to the full value of your Restricted Stock Units. | |
7. | You may designate a beneficiary to receive payment in connection with the Restricted Stock Units awarded hereunder in the event of your death while in service with Bank of America or its Subsidiaries in accordance with Bank of Americas beneficiary designation procedures, as in effect from time to time. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate. | |
8. | The existence of this Award shall not affect in any way the right or power of Bank of America or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Bank of Americas capital structure or its business, or any merger or consolidation of Bank of America, or any issue of bonds, debentures, preferred or prior preference stocks ahead of or convertible into, or otherwise affecting the Bank of America common stock or the rights thereof, or the dissolution or liquidation of Bank of America, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. | |
9. | Bank of America may, in its sole discretion, decide to deliver any documents related to this grant or future Awards that may be granted under the Stock Plan by electronic means or request your consent to participate in the Stock Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested, agree to participate in the Stock Plan through an on-line or electronic system established and maintained by Bank of America or another third party designated by Bank of America. | |
Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your electronic mail or postal address as shown on the records of Bank of America from time to time, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time. | ||
10. | Regardless of any action Bank of America or your employer takes with respect to any or all income tax, payroll tax or other tax-related withholding (Tax-Related Items), you acknowledge that the ultimate liability for all Tax-Related Items owed by you is and remains your responsibility and that Bank of America and/or your employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the grant of Restricted Stock Units, including the grant and vesting of the Restricted Stock Units the subsequent sale of Shares acquired upon the vesting of the Restricted Stock Units and the receipt of any dividends; and (ii) do not commit to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate your liability for Tax-Related Items. | |
In the event Bank of America determines that it and/or your employer must withhold any Tax-Related Items as a result of your participation in the Stock Plan, you agree as a condition of the grant of the |
Restricted Stock Units to make arrangements satisfactory to Bank of America and/or your employer to enable it to satisfy all withholding requirements, including, but not limited to: withholding Tax-Related Items from your wages, salary or other cash compensation your employer pays to you; withholding Tax-Related Items from the cash proceeds, if any, received upon sale of any Shares received in payment for your Restricted Stock Units; and at the time of payment, withholding Shares sufficient to meet minimum withholding obligations for Tax-Related Items. Bank of America may refuse to issue and deliver Shares in payment of any earned Restricted Stock Units if you fail to comply with any withholding obligation. | ||
11. | The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States, as provided in the Stock Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be performed, and no other courts. | |
12. | In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding the Restricted Stock Units. Any prior agreements, commitments or negotiations concerning the Restricted Stock Units are superseded. Subject to the terms of the Stock Plan, this Agreement may only be amended by a written instrument signed by both parties. | |
13. | If you move to any country outside of the United States during the term of your Award, additional terms and conditions may apply to your Award. Bank of America reserves the right to impose other requirements on the Award to the extent Bank of America determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Award and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. |
BANK OF AMERICA CORPORATION
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ASSOCIATE | |||
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By:
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Chief Executive Officer and President
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(i) | Death . Any unearned Restricted Stock Units (and any related dividend equivalents) shall become immediately earned and payable as of the date of your termination of employment if your termination is due to death. Payment will be made as soon as administratively practicable, generally within 30 days after notification of termination from the payroll system. | ||
(ii) | Disability, Workforce Reduction or Divestiture . If your employment is terminated by Bank of America or its Subsidiaries due to Disability, Workforce Reduction or Divestiture, then your Restricted Stock Units (and any related dividend equivalents) shall continue to become earned and payable at such time as provided in the Payment Schedule described in paragraph (a) above (without regard to whether you are employed by Bank of America and its Subsidiaries), subject to your complying with the covenants set forth in paragraph (d) below and subject to the performance condition set forth in paragraph (e) below. | ||
(iii) | Termination by Bank of America With Cause . If your employment is terminated by your employer with Cause, then any Restricted Stock Units (and any related dividend equivalents) that were not already earned and payable pursuant to paragraph (a) above as of the date of termination of employment shall be canceled as of that date. | ||
(iv) | All Other Terminations . Unless you have attained the Rule of 60 as described below, any Restricted Stock Units (and any related dividend equivalents) that were not already earned and payable pursuant to paragraph (a) above as of the date of termination of employment shall be canceled as of that date. |
(i) | Non-Solicitation . You agree that during any period in which Restricted Stock Units (and any related dividend equivalents) remain payable, you will not directly or indirectly solicit or recruit for employment or encourage to leave employment with Bank of America or its Subsidiaries, on your own behalf or on behalf of any other person or entity other than Bank of America or its Subsidiaries any person who is an associate of Bank of America and its Subsidiaries. You further agree that during any such period, you will not, directly or indirectly, on your own behalf or on behalf of any other person or entity other than Bank of America or its Subsidiaries, solicit any client or customer of Bank of America and its Subsidiaries which you actively solicited or with whom you worked or otherwise had material contact in the course of your employment with Bank of America and its Subsidiaries. | ||
(ii) | Detrimental Conduct . You agree that during any period in which Restricted Stock Units (and any related dividend equivalents) remain payable, you will not engage in Detrimental Conduct. | ||
(iii) | Hedging or Derivative Transactions . You agree that during any period in which Restricted Stock Units (and any related dividend equivalents) remain payable, you will not engage in any hedging or derivative transactions involving Bank of America common stock in violation of the Bank of America Corporation Code of Ethics that would undermine the long-term performance incentive created by the Restricted Stock Units. | ||
(iv) | Remedies . Payment of the Restricted Stock Units (and any related dividend equivalents) in accordance with the schedule set forth in paragraph (a) above is specifically conditioned on the requirement that at all times prior to each payment, you do not engage in solicitation, Detrimental Conduct or hedging or derivative transactions, as described in paragraphs (d)(i), (ii) and (iii), during such period. If Bank of America determines in its reasonable business judgment that you have failed to satisfy such requirements, then any Restricted Stock Units (and any related dividend equivalents) that have not yet been paid as of the date of such determination shall be canceled as of such date of determination. |
(i) | with respect to Bank of America, if you are a direct report of the Chief Executive Officer who does not lead a line of business; or | ||
(ii) | with respect to Bank of America or applicable line of business, if you lead a line of business, |
1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. | |
2. | Print the Award Agreement and file it with your important papers. |
GRANTED TO | GRANT DATE | NUMBER OF SHARES | ||
Note : The number of Restricted Stock Shares is based on a divisor price of $14.90, which is the ten-day average closing price of Bank of America Corporation common stock for the ten business days immediately preceding and including February 12, 2010. |
1. | Subject to the terms and conditions of the Stock Plan and this Agreement, Bank of America awards to you the number of Shares of Restricted Stock shown above. | |
2. | You acknowledge having read the Prospectus and agree to be bound by all the terms and conditions of the Stock Plan and this Agreement. | |
3. | The Shares of Restricted Stock covered by this Award shall be released and delivered to you on the dates, and subject to the terms and conditions, set forth on the enclosed Exhibit A. Until they are released to you, the Shares shall be held by Bank of America. While the Shares are held by Bank of America, you shall not have the right to transfer, sell or otherwise dispose of such Shares or any interest therein. | |
4. | You shall have the right to receive dividends on the Shares prior to the date they are released to you. In accordance with Section 8.6 of the Stock Plan, you shall have the right to vote the Shares while they are held by Bank of America. | |
5. | You agree that you shall comply with (or provide adequate assurance as to future compliance with) all applicable securities laws and income tax laws as determined by Bank of America as a condition precedent to the delivery of any shares of Bank of America common stock pursuant to this Agreement. In addition, you agree that, upon request, you will furnish a letter agreement providing that (i) you will not distribute or resell any of said shares in violation of the Securities Act of 1933, as amended, (ii) you will indemnify and hold Bank of America harmless against all liability for any such violation and (iii) you will accept all liability for any such violation. |
6. | To the extent allowed by and consistent with applicable law and any applicable limitations period, if it is determined at any time that you have engaged in Detrimental Conduct, Bank of America will be entitled to recover from you in its sole discretion some or all of the Shares of Restricted Stock covered by this Agreement. You recognize that if you engage in Detrimental Conduct, the losses to Bank of America and/or its Subsidiaries may amount to the full value of your Shares. | |
7. | You may designate a beneficiary to receive any Shares awarded hereunder in the event of your death while in service with Bank of America or its Subsidiaries, in accordance with Bank of Americas beneficiary designation procedures, as in effect from time to time. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate. | |
8. | You acknowledge and agree that upon any event resulting in the cancellation of any Shares that have not yet been transferred to you in accordance with Exhibit A of this Agreement or otherwise in accordance with the Stock Plan, (i) your right to vote and to receive cash dividends on, and all other rights, title or interest in, to or with respect to, such Shares shall automatically, without further act, terminate and (ii) such Shares shall be returned to Bank of America. You hereby irrevocably appoint (which appointment is coupled with an interest) Bank of America as your agent and attorney-in-fact to take any necessary or appropriate action to cause the Shares to be returned to Bank of America, including without limitation executing and delivering stock powers and instruments of transfer, making endorsements and/or making, initiating or issuing instructions or entitlement orders, all in your name and on your behalf. You hereby ratify and approve all acts done by Bank of America as such attorney-in-fact. Without limiting the foregoing, you expressly acknowledge and agree that any transfer agent for the Shares is fully authorized and protected in relying on, and shall incur no liability in acting on, any documents, instruments, endorsements, instructions, orders or communications from Bank of America in connection with the Shares or the transfer thereof, and that any such transfer agent is a third party beneficiary of this Agreement. | |
9. | The existence of this Award shall not affect in any way the right or power of Bank of America or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Bank of Americas capital structure or its business, or any merger or consolidation of Bank of America, or any issue of bonds, debentures, preferred or prior preference stocks ahead of or convertible into, or otherwise affecting the Bank of America common stock or the rights thereof, or the dissolution or liquidation of Bank of America, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. | |
10. | Bank of America may, in its sole discretion, decide to deliver any documents related to this grant or future Awards that may be granted under the Stock Plan by electronic means or request your consent to participate in the Stock Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested, agree to participate in the Stock Plan through an on-line or electronic system established and maintained by Bank of America or another third party designated by Bank of America. | |
Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your electronic mail or postal address as shown on the records of Bank of America from time to time, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time. |
11. | Regardless of any action Bank of America or your employer takes with respect to any or all income tax, payroll tax or other tax-related withholding (Tax-Related Items), you acknowledge that the ultimate liability for all Tax-Related Items owed by you is and remains your responsibility and that Bank of America and/or your employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the grant of Shares of Restricted Stock covered by this Agreement, including the grant or release of Shares, the subsequent sale of Shares following their release and the receipt of any dividends; and (ii) do not commit to structure the terms of the grant or any aspect of the Shares of Restricted Stock to reduce or eliminate your liability for Tax-Related Items. | |
In the event Bank of America determines that it and/or your employer must withhold any Tax-Related Items as a result of your participation in the Stock Plan, you agree as a condition of the grant of the Shares of Restricted Stock covered by this Agreement to make arrangements satisfactory to Bank of America and/or your employer to enable it to satisfy all withholding requirements. In addition, you authorize Bank of America and/or your employer to fulfill its withholding obligations by all legal means, including, but not limited to: withholding Tax-Related Items from your wages, salary or other cash compensation your employer pays to you; withholding Tax-Related Items from the cash proceeds, if any, received upon sale of any Shares following release; and at the time of grant, withholding Shares sufficient to meet minimum withholding obligations for Tax-Related Items. Bank of America may refuse to deliver Shares as otherwise scheduled if you fail to comply with any withholding obligation. | ||
12. | The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States, as provided in the Stock Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be performed, and no other courts. | |
13. | In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding the Shares of Restricted Stock. Any prior agreements, commitments or negotiations concerning the Restricted Stock Shares are superseded. Subject to the terms of the Stock Plan, this Agreement may only be amended by a written instrument signed by both parties. | |
14. | If you move to any country outside of the United States during the term of your Award, additional terms and conditions may apply to your Award. Bank of America reserves the right to impose other requirements on the Award to the extent Bank of America determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Award and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. |
By:
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Number of Shares | ||
Release Date* | to be Released | |
August 12, 2010 | one-half (1/2) of remaining Shares | |
August 12, 2011 | one-half (1/2) of remaining Shares |
* | Shares will be delivered as soon as administratively practicable, generally within 30 days after the release date. |
(i) | Death . Any of the Shares that have not yet been released shall be released and delivered to you as soon as administratively practicable (generally within 30 days) after the date of your termination of employment if your termination is due to death. | ||
(ii) | Termination by Bank of America With Cause . Any Shares that have not yet been released as of the date of termination of employment by your employer with Cause shall be canceled as of that date. | ||
(iii) | All Other Terminations . Any Shares that have not yet been released as of the date of termination of employment shall continue to be released in accordance with the schedule set forth in paragraph (a) above, subject to compliance with the covenant in paragraph (c) below. |
1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. | ||
2. | Print the Award Agreement and file it with your important papers. | ||
3. | Accept your Award Agreement through the online acceptance process.* | ||
4. | Designate your beneficiary on the Benefits OnLine ® Beneficiary tab. | ||
5. | Review the current competitor list, which can be found on Flagscape ® under Benefits & Pay / Pay & Timekeeping / Stock and Long-Term Cash, to the extent that the competition restriction is applicable to you, as described in this Award Agreement. |
Granted To:
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Grant Date:
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Number Granted:
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Return on Assets for the
Performance Period |
Percentage of
Restricted Stock Units Earned |
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Less than 50 basis points
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0% | ||||
50 basis points
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33-1/3% | ||||
65 basis points
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66-2/3% | ||||
80 basis points or higher
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100% | ||||
1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. | ||
2. | Print the Award Agreement and file it with your important papers. | ||
3. | Accept your Award Agreement through the online acceptance process.* | ||
4. | Designate your beneficiary on the Benefits OnLine ® Beneficiary tab. | ||
5. | Review the current competitor list, which can be found on Flagscape ® under Benefits & Pay / Pay & Timekeeping / Stock and Long-Term Cash, to the extent that the competition restriction is applicable to you, as described in this Award Agreement. |
Granted To:
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Grant Date:
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Grant Type:
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Number Granted:
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Number of Restricted Stock Units | ||
Payment Date * | That Become Earned and Payable | |
First anniversary of Grant Date
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one-third (1/3) of Award | |
Second anniversary of Grant Date
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one-third (1/3) of Award | |
Third anniversary of Grant Date
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one-third (1/3) of Award |
| You are actively employed by the Company on the first and second anniversaries of the Effective Date of the merger between Merrill Lynch and Bank of America; and | ||
| You continue to perform your work in a satisfactory and positive manner, as determined by the Company in its sole discretion. |
1
Dated:
2/5/09
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/s/ Bruce R. Thompson
Bruce R Thompson EID#: [REDACTED] |
2
Signing Bonus |
| You will receive a signing bonus of One Million Four Hundred Seventy Thousand Dollars ($1,470,000) within forty-five (45) days of your Start Date. This bonus is being paid to encourage you to accept our offer and to remain employed with the Company for at least a year. This bonus payment must be repaid to the Company within thirty (30) days should you voluntarily terminate your employment within twelve (12) months of your receipt of payment, or in the event you are terminated for Cause (as defined below) as is reflected in the attached Reimbursement Agreement (for Signing Bonuses and Supplemental Payments). |
Base Salary |
| You will receive an annual base salary of Nine Hundred Fifty Thousand Dollars ($950,000), payable on a semi-monthly basis in accordance with the Companys normal payroll practices. |
| In addition, you will receive a Restricted Stock Award with a value of Three Million Dollars ($3,000,000) payable as described below. The award date will be January 15, 2010. | ||
| Provided you remain continuously employed by the Company or any of its affiliates this Restricted Stock Award will vest and be fully payable on the third anniversary of the award date. | ||
| You will receive a detailed package related to this restricted stock award shortly after the award date. This package will contain the specific terms of your award, including vesting and forfeiture provisions, and will in all events be the governing document for your award. |
| You will be eligible to participate in a Bank of America Corporation performance incentive plan. Performance incentive awards granted under such plans (Performance Incentive Awards) acknowledge exceptional performance and are intended to attract and retain top talent for the Company. | |
| For performance year 2009, you will be eligible to receive a Performance Incentive Award with a target value of Two Million Two Hundred Thousand Dollars ($2,200,000). Any such 2009 Performance Incentive Award you may ultimately receive will be provided in the form of a restricted stock award granted in February 2010. Provided you remain continuously employed by the Company or any of its affiliates and receive such a Restricted Stock Award, the Award will vest and be fully payable on the third anniversary of the award date. You will receive a detailed package related to this restricted stock award shortly after the award date. This package will contain the specific terms of your awards, including vesting and forfeiture provisions, and will in all events be the governing document for your award. | |
| For performance year 2010, you will be eligible to receive a Performance Incentive Award with a target value of Eight Million Fifty Thousand Dollars ($8,050,000). This target is comprised of a Restricted Stock Award with a target value of Three Million Six Hundred Thirty Thousand Dollars ($3,630,000) granted in February 2011 and a cash payment with a target value of Four Million Four Hundred Twenty Thousand Dollars ($4,420,000), payable in February 2011. Provided you remain continuously employed by the Company or any of its affiliates and receive a Restricted Stock Award for performance year 2010, the award will vest and be fully payable on the third anniversary of the award date. You will receive a detailed package related to this restricted stock award shortly after the award date. This package will contain the specific terms of your award, including vesting and forfeiture provisions, and will in all events be the governing document for your award. | |
| The target Performance Incentive Awards noted above, whether in the form of restricted stock or cash, are not a commitment for a Performance Incentive Award of any particular dollar amount. Your eligibility for an award and the actual value of any such award will be determined in the sole discretion of the Company and therefore could be greater or less than the stated target amount based upon: [1] your overall level of performance and the satisfactory performance of your job objectives; [2] the performance and contributions of your line of business and / or group; and [3] the overall success of the Company. | |
| In order to be eligible to receive a Performance Incentive Award, including for performance year(s) 2009 and 2010, you must remain continuously employed by the Company or any of its affiliates in good standing through the date the award is actually granted. Except as otherwise specifically provided herein, in the event that you voluntarily resign your employment, or the Company terminates your employment for any reason, you are not eligible for and shall not be entitled to receive any additional compensation other than the continuation of your base salary through your separation date, and payment of accrued but unused vacation. | |
| Although generally granted in February following the close of the applicable performance year, a portion of this award is offered to you as incentive to encourage you, as a valued associate, to remain employed by the Company. Therefore, Performance Incentive Awards may be granted in any combination of cash, a long term cash award, restricted |
stock shares / units or other forms of compensation at the Companys discretion, and will be valued according to the Companys method of valuing all forms of compensation. The Company reserves the right in its sole discretion to change or modify the manner or mode of delivering compensation for a performance year, including the right to grant awards in any form that Bank of America, in its sole discretion, deems equivalent. | ||
| Any award made as part of your Performance Incentive Award is subject to the terms and conditions of the applicable plan document and individual award agreement, if any. The Company reserves the right to amend, modify or terminate any of its plans or programs at any time in its sole discretion; provided, however, that no such amendment, modification or termination will adversely affect your rights under any award previously granted to you without your consent. |
| You will not be eligible to be paid any portion of the Performance Incentive Award targets described above if you engage in Detrimental Conduct. | |
| Detrimental Conduct means (A) any conduct that would constitute Cause as defined below or (B) any one of the following: [1] any act or omission by you resulting or intended to result in personal gain at the expense of the Company; [2] the improper disclosure by you of proprietary, privileged or confidential information of the Company or a Company client or former client or breach of a fiduciary duty owed to the Company or a Company client or former client; [3] improper conduct by you including, but not limited to, fraud, unethical conduct, falsification of Company records, unauthorized removal of Company property or information, intentional violation or negligent disregard for the Companys policies, rules and procedures, insubordination, theft, violent acts or threats of violence, unauthorized possession of controlled substances on the property of the Company, conduct causing reputational harm to the Company or its clients, or the use of the Companys property, facilities or services for unauthorized or illegal purposes; [4] the performance by you of your employment duties in a manner deemed by the Company to be grossly negligent; [5] the commission of a criminal act by you, whether or not performed in the workplace, that subjects, or if generally known, would subject the Company to public ridicule or embarrassment. |
| You will be or may become eligible for other benefit plans as adopted by the Company from time to time. The terms of these plans shall be determined by the Company or as thereafter amended. Any grants or awards made in accordance with these plans shall be governed by the terms of the applicable plans and the grant or award agreement provided to you at the time of issuance. |
| You agree that during your Notice Period, and for one hundred eighty (180) calendar days after the expiration of the Notice Period, you shall not directly or indirectly induce or solicit any employee working for the Company or for a subsidiary or affiliate of the Company to terminate their employment with the Company or their employment with a subsidiary or affiliate of the Company; and | |
| You agree that during your Notice Period, and for one hundred eighty (180) calendar days after the expiration of the Notice Period, you shall not directly or indirectly induce or solicit any client of the Company or of a subsidiary or affiliate of the Company to terminate or modify its relationship with the Company or with a subsidiary or affiliate of the Company. | |
| You agree that for a period of one hundred eighty (180) calendar days after the expiration of the Notice Period, you will not engage directly or indirectly, whether as a director, officer, employee, partner, consultant, advisor, independent contractor or in any other capacity, in providing the same or similar services to those you provided to the Company or a subsidiary or affiliate of the Company to a) any competitive business identified in the Key Associate Stock Plan in effect at the time of your separation from employment; and b) any other business entity in the financial services industry which provides products or services which compete with those provided by the Company or a subsidiary or affiliate of the Company. | |
| You also agree that because your services are personal and unique and because you will have access to and will be acquainted with Company Confidential Information, to the fullest extent permitted by law, these non-solicitation and non-competition provisions will be enforceable by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights or remedies that the Company may have for breach of these provisions. |
| You will be eligible to participate in the employee benefit plans and programs that Bank of America offers to its associates, subject to the provisions of those plans. These benefits include a 401(k) plan, cash balance pension plan, and health and other welfare benefits such as medical, dental, vision, life, and long-term disability insurance. Bank of America also offers paid time off benefits such as occasional illness days, short-term disability, and vacation. | |
| You will be eligible to enroll in health care coverage the first of the month after you have completed one full month of continuous service, not counting the month you began |
working. For example, an associate whose employment begins January 1 would be eligible to begin coverage on March 1. To further illustrate, an associate who begins employment on May 25 would become eligible to participate on July 1. |
| Interim Period . Assuming that you accept and agree to the terms of this letter, during the period which begins immediately after you sign and date this letter, and ends upon your actual Start Date, you acknowledge and agree that your employment with the Company has not yet begun. You further acknowledge and agree that your employment with the Company will begin on the Start Date when you start work for the Company. During the described interim period, this offer remains subject to rescission/revocation by the Company, in its sole discretion upon discovery of conduct or behavior by you which: [i] if you were already in the Companys employ, would constitute Detrimental Conduct or Cause; [ii] if you were already in the Companys employ, would constitute a breach of the representations and warranties set out in this letter; or [iii] such other behavior or conduct as is plainly and materially injurious to the Company, its business interests or its reputation. | |
| Employment At Will . The terms of this letter do not imply employment for any specific period of time. Rather, as is the case with all employees within the Company and Bank |
of America generally, your employment is at will. You have the right to terminate your employment at any time with or without cause or notice, unless it is otherwise required as stated herein, and the Company reserves for itself an equal right, subject to the terms of this letter. | ||
| Background Checks . Any offer with Bank of America is contingent upon the satisfactory completion of various background investigations that include employment and education verification, a federal/national and county level criminal conviction investigation, and a FINRA Pre-Hire review. Prior to the issuance of this offer letter you were required to sign and return the Pre-Hire Authorization, and Fair Credit Reporting Act forms. In addition, if you have not already done so, please complete the background investigation authorization form and return it promptly to your Recruiting contact. All information disclosed must be accurate and complete. You will not be permitted to begin your employment until a successful background investigation has been completed. | |
| Confidentiality Agreement . This offer is specifically contingent upon your signing the Companys standard form of Confidentiality Agreement, a copy of which is being provided with this letter. | |
| Proprietary Rights and Information Agreement . This offer is specifically contingent upon your signing the Companys standard form of Proprietary Rights and Information Agreement, a copy of which is being provided with this letter. | |
| Company Policies and Procedures . You hereby agree that, effective from and after your Start Date, you will adhere to the Companys policies and procedures applicable to all employees generally, and / or applicable to your position and function within the Company. Upon commencement of your employment, you will be required to execute the Companys standard forms, including if you have not already done so, the Bank of America Applicant Acknowledgment Form, and all other forms and acknowledgements required of employees generally. These policies and procedures, which you will receive in the context of your orientation, address, among other things, outside employment limitations, arbitration of disputes, compliance rules and regulations, insider trading, equal employment opportunity and sexual harassment and information security policies. You should fully familiarize yourself with these policies and procedures as they pertain to your employment. The Company reserves its full discretion to change or modify its policies and procedures, or to adopt/implement new policies. | |
| Associate Investment Policy . You should also understand as a result of your employment with the Company you may be subject to the Associate Investment Policy which could limit or restrict your ability to buy, sell or recommend securities on behalf of yourself, your family and other affiliated individuals and could limit the broker dealers with whom you maintain your accounts to those approved by the Company. This policy may also require prior notice and/or pre-approval of personal securities related activities. You hereby agree that, effective from and after your start date, you will adhere to and comply with the Companys Associate Investment Policy as directed by the Company. If notified that you are subject to this policy, you will be required to execute appropriate online certification acknowledging your receipt of and compliance with the policy and must similarly report all of your brokerage accounts. | |
You should also be aware that the Company has adopted a policy relating to mutual fund advisory activities and mutual fund share sales, trading, clearing and processing activities respecting (a) market timing of mutual funds, (b) late trading of mutual funds, and / or (c) |
the dissemination of information concerning Bank of America advised mutual fund portfolio positions. You hereby agree that, effective from and after your Start Date, you will adhere to and comply with the BAC Mutual Fund Share Trading Policy, which can be found in the Bank of America Code of Ethics provided on the offer acceptance Web site. A link to this site was provided above in this letter. Shortly after your Start Date, either through web-based training via the Associate Learning Portal or through interactive voice response system via telephone, you will asked to acknowledge that you have read, understand and agree to comply with the Code and the Policy. | ||
| Immigration Reform and Control Act of 1986 Form I-9 . Any offer with Bank of America is specifically contingent upon appropriate work authorization as described below. To comply with the Immigration Reform and Control Act of 1986, you are required to complete an I-9 form and provide documents confirming both your identity and your employment eligibility. The completion of Form I-9 is a two-step process which is outlined in the enclosed document entitled Preparing For Your First Day. Under the law, your continued employment depends upon your completion of the I-9 process. If you fail to complete the Form I-9 process before your Start Date, Bank of America will be required to suspend your Start Date until proper completion has been verified, or if circumstances warrant, to revoke and rescind this offer. Please contact your Recruiter or Staffing Manager if you have any questions regarding the completion of the I-9 process. |
1 | Outside Directorships include all directorships or board memberships or committee memberships you hold at the time you sign this letter. |
| Garden Leave / Notice Period Obligations . By signing this letter, you represent to the Company that your acceptance of this offer and agreement to accept employment with the Company under these terms will not conflict with, violate or constitute a breach of any employment or other agreement to which you are a party and that you are not required to obtain the consent of any person, firm, corporation or other entity in order to accept this offer of employment. | |
| Solicitation of Business and Former Colleagues . You further warrant and represent that you are not subject to any restrictive covenants or other continuing obligations that in any way restrict your ability to engage in or solicit any business of any type engaged in by the Company, or to participate in any recruiting or staffing efforts on behalf of the Company. | |
| Non-Disclosure of Confidential, Business and Proprietary or Trade Secret Information . You further represent and agree that you will not knowingly use or otherwise disclose any confidential, business and proprietary or trade secret information obtained as a result of any prior employment, unless specifically authorized to do so by your former employer(s). You should clearly understand that this provision of this letter should be regarded as this Companys explicit instruction for you not to use or disclose this information in breach and/or violation of your representations and agreement. | |
| Full Documentation of Prior Compensation . You also represent that to the extent requested, you have provided the Company with full and accurate documentation of your prior compensation as well as documentation reflecting your unvested and foregone stock options, restricted stock and/or cash that has or may be forfeited for which the Company will compensate you under the conditions described in this letter. | |
| Confidentiality . You agree that to the fullest extent permitted by law, the circumstances surrounding the negotiation of, and the specific terms of this letter, and any and all actions by the Company and you in accordance therewith are strictly confidential and, with the exception of your counsel, legal advisor, tax advisor, immediate family, or as required by applicable law in connection with your seeking to enforce your rights hereunder, have not and shall not be disclosed, discussed, or revealed to any other persons, entities or organizations, whether within or outside the Company, without the prior written approval of the Company. You further agree to take all reasonable steps necessary to ensure that confidentiality is maintained by any of the individuals or entities referenced in this paragraph to whom disclosure is authorized. |
Sincerely
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Accepted and Agreed: | |
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/s/ Andrea Smith
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/s/ Sallie Krawcheck | |
Andrea B. Smith
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Sallie L. Krawcheck | |
Senior Human Resources Executive
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Dated: 8/3/09 | |
Anticipated Start Date: August 4, 2009
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| Reimbursement Agreement | ||
| Bank of America Corporation, Code of Ethics and General Policy on Insider Trading | ||
| Bank of America, Protection of Bank of America Confidential Information and Employee and Customer Relationships and Acknowledgement of Policy Concerning Notice Before Resignation / Retirement | ||
| Proprietary Rights and Information Agreement | ||
| Bank of America Outside Directorship Policy |
1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. | ||
2. | Print the Award Agreement and file it with your important papers. | ||
3. | Designate your beneficiary on the Benefits OnLine ® Beneficiary tab. |
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1. | Definitions. The following terms shall have the following meanings for all purposes of this Agreement: | |
Aircraft means, individually and collectively as the context may require, Aircraft 1, Aircraft 2, Aircraft 3, Aircraft 4, Aircraft 5 and Aircraft 6. | ||
Aircraft 1 means Airframe 1, and the Engines, the Parts, and the Aircraft Documents associated with Airframe 1. The Engines associated with Aircraft 1 shall be deemed part of the Aircraft 1 whether or not from time to time attached to the Airframe or removed from the Airframe. | ||
Aircraft 2 means Airframe 2, and the Engines, the Parts, and the Aircraft Documents associated with Airframe 2. The Engines associated with Aircraft 2 shall be deemed part of the Aircraft 2 whether or not from time to time attached to the Airframe or removed from the Airframe. | ||
Aircraft 3 means Airframe 3, and the Engines, the Parts, and the Aircraft Documents associated with Airframe 3. The Engines associated with Aircraft 3 shall be deemed part of the Aircraft 3 whether or not from time to time attached to the Airframe or removed from the Airframe. | ||
Aircraft 4 means Airframe 4, and the Engines, the Parts, and the Aircraft Documents associated with Airframe 4. The Engines associated with Aircraft 4 shall be deemed part of the Aircraft 4 whether or not from time to time attached to the Airframe or removed from the Airframe. | ||
Aircraft 5 means Airframe 5, and the Engines, the Parts, and the Aircraft Documents associated with Airframe 5. The Engines associated with Aircraft 5 shall be deemed part of the Aircraft 5 whether or not from time to time attached to the Airframe or removed from the Airframe. | ||
Aircraft 6 means Airframe 6, and the Engines, the Parts, and the Aircraft Documents associated with Airframe 6. The Engines associated with Aircraft 6 shall be deemed part of the Aircraft 6 whether or not from time to time attached to the Airframe or removed from the Airframe. | ||
Aircraft Documents means all flight records, maintenance records, historical records, modification records, overhaul records, manuals, logbooks, authorizations, drawings and data relating to any specific Airframe, any specific Engine, or any Part associated with any specific Airframe or Engine, or that are required by Applicable Law to be created or maintained with respect to the maintenance and/or operation of any specific Aircraft. | ||
Airframe 1 means that certain Gulfstream Aerospace G-V aircraft bearing U.S. registration number |
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N754BA, and manufacturers serial number 5007, together with any and all Parts (including, but not limited to, landing gear and auxiliary power units but excluding Engines or engines) so long as such Parts shall be either incorporated or installed in or attached to the Airframe. | ||
Airframe 2 means that certain Gulfstream Aerospace G-V aircraft bearing U.S. registration number N795BA, and manufacturers serial number 5031, together with any and all Parts (including, but not limited to, landing gear and auxiliary power units but excluding Engines or engines) so long as such Parts shall be either incorporated or installed in or attached to the Airframe. | ||
Airframe 3 means that certain Gulfstream Aerospace G-VSP aircraft bearing U.S. registration number N837BA, and manufacturers serial number 5122, together with any and all Parts (including, but not limited to, landing gear and auxiliary power units but excluding Engines or engines) so long as such Parts shall be either incorporated or installed in or attached to the Airframe. | ||
Airframe 4 means that certain Gulfstream Aerospace G-VSP aircraft bearing U.S. registration number N838BA, and manufacturers serial number 5140 together with any and all Parts (including, but not limited to, landing gear and auxiliary power units but excluding Engines or engines) so long as such Parts shall be either incorporated or installed in or attached to the Airframe. | ||
Airframe 5 means that certain Dassault Aviation Falcon 2000 aircraft bearing U.S. registration number N676BA, and manufacturers serial number 176, together with any and all Parts (including, but not limited to, landing gear and auxiliary power units but excluding Engines or engines) so long as such Parts shall be either incorporated or installed in or attached to the Airframe. | ||
Airframe 6 means that certain Dassault Aviation Falcon 2000 aircraft bearing U.S. registration number N620BA, and manufacturers serial number 220, together with any and all Parts (including, but not limited to, landing gear and auxiliary power units but excluding Engines or engines) so long as such Parts shall be either incorporated or installed in or attached to the Airframe. | ||
Applicable Law means, without limitation, all applicable laws, treaties, international agreements, decisions and orders of any court, arbitration or governmental agency or authority and rules, regulations, orders, directives, licenses and permits of any governmental body, instrumentality, agency or authority, including, without limitation, the FAR and 49 U.S.C. § 41101, et seq ., as amended. | ||
Business Day means any day of the year during which Time Share Lessors headquarters offices in the State of North Carolina are open for business. | ||
DOT means the United States Department of Transportation or any successor agency. | ||
Engines (Aircraft 1) means two (2) Rolls-Royce BR700-700C4-11 engines bearing manufacturers serial numbers 15115 & 15114, together with any and all Parts so long as the same shall be either incorporated or installed in or attached to such Engine. Any engine which may be, from time to time, substituted for an Engine shall be deemed to be an Engine and subject to this Agreement for so long as it remains attached to the Airframe. | ||
Engines (Aircraft 2) means two (2) Rolls-Royce BR700-700C4-11 engines bearing manufacturers serial numbers 15165 & 15164, together with any and all Parts so long as the same shall be either incorporated or installed in or attached to such Engine. Any engine which may be, from time to time, substituted for an Engine shall be deemed to be an Engine and subject to this Agreement for so long as it remains attached to the Airframe. | ||
Engines (Aircraft 3) means two (2) Rolls-Royce BR700-710C4-11 engines bearing manufacturers serial numbers 15347 & 15346, together with any and all Parts so long as the same shall be either incorporated or installed in or attached to such Engine. Any engine which may be, from time to time, substituted for an Engine shall be deemed to be an Engine and subject to this Agreement for so long as it remains attached to the Airframe. |
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Engines (Aircraft 4) means two (2) Rolls-Royce BR700-710C4-11 engines bearing manufacturers serial numbers 15381 & 15380, together with any and all Parts so long as the same shall be either incorporated or installed in or attached to such Engine. Any engine which may be, from time to time, substituted for an Engine shall be deemed to be an Engine and subject to this Agreement for so long as it remains attached to the Airframe. | ||
Engines (Aircraft 5) means two (2) Honeywell CFE738-1-1B engines bearing manufacturers serial numbers P-105489 & P-105488, together with any and all Parts so long as the same shall be either incorporated or installed in or attached to such Engine. Any engine which may be, from time to time, substituted for an Engine shall be deemed to be an Engine and subject to this Agreement for so long as it remains attached to the Airframe. | ||
Engines (Aircraft 6) means two (2) Honeywell CFE738-1-1B engines bearing manufacturers serial numbers P-105578 & P-105579, together with any and all Parts so long as the same shall be either incorporated or installed in or attached to such Engine. Any engine which may be, from time to time, substituted for an Engine shall be deemed to be an Engine and subject to this Agreement for so long as it remains attached to the Airframe. | ||
FAA means the Federal Aviation Administration or any successor agency. | ||
FAR means collectively the Aeronautics Regulations of the FAA and the DOT, as codified at Title 14, Parts 1 to 399 of the United States Code of Federal Regulations. | ||
Operating Base means Charlotte Douglas International Airport, in the City of Charlotte, State of North Carolina. | ||
Operational Control has the same meaning given the term in Section 1.1 of the FAR. | ||
Parts means all appliances, components, parts, instruments, appurtenances, accessories, furnishings or other equipment of whatever nature (other than complete Engines or engines) which may from time to time be incorporated or installed in or attached to any Airframe or any Engine and includes replacement parts. | ||
Pilot in Command has the same meaning given the term in Section 1.1 of the FAR. | ||
Schedule Keeper means the person designated by the Time Share Lessor to maintain the scheduling log of the Aircraft. The name, address, telephone number, and other contact information for the Schedule Keeper are set forth in Section 27. | ||
Taxes means commercial air transportation excise taxes pursuant to Section 4261 of the Internal Revenue Code of 1986, as amended, regardless of whether any flight is considered noncommercial under the FAR. | ||
Term means the entire period from the Effective Date to the date this Agreement is terminated pursuant to Section 3. |
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2. | Agreement to Lease. Time Share Lessor agrees to lease each Aircraft to Time Share Lessee from time to time on an as needed and as available basis, and to provide a fully qualified flight crew for all Time Share Lessees flight operations, in accordance with the terms and conditions of this Agreement. | |
3. | Term. |
3.1 | Initial Term. The initial term of this Agreement shall commence on the Effective Date and continue for a period of one (1) year. | ||
3.2 | Renewal. At the end of the initial one (1) year term or any subsequent one (1) year term, this Agreement shall automatically be renewed for an additional one (1) year term. | ||
3.3 | Termination. Each party shall have the right to terminate this Agreement at any time with or without cause on thirty (30) days written notice to the other party. This Agreement shall terminate automatically on the date the Time Share Lessee no longer serves as the Time Share Lessors Chief Executive Officer. |
4. | Applicable Regulations. The parties hereto intend that this Agreement shall constitute, and this Agreement shall be interpreted as, a Time Sharing Agreement as defined in Section 91.501(c)(1) of the FAR. The parties agree that for all flights under this Agreement, the Aircraft used for the flight shall be operated under the pertinent provisions of Subpart F of Part 91 of the FAR. If any provision of this Agreement is determined to be inconsistent with any of the requirements of the provisions of Subpart F of Part 91 of the FAR, such provision shall be deemed amended in any respect necessary to bring it into compliance with such requirements. | |
5. | Non-Exclusivity. Time Share Lessee acknowledges that each Aircraft is leased to Time Share Lessee hereunder on a non-exclusive basis, and that all Aircraft will also be subject to use by Time Share Lessor, and may also be subject to non-exclusive leases and lease to others during the Term. | |
6. | Flight Charges. Time Share Lessee shall pay Time Share Lessor an amount equal to the direct operating costs for the Aircraft used for any flight conducted under this Agreement, other than any flight conducted under this Agreement that is deemed for the Time Share Lessees entertainment purposes, in which case the Time Share Lessee shall pay an amount equal to the fair market charter value of the flight, in either case, as determined by the Time Share Lessor; provided, however, that the foregoing shall be subject to the limitation that in no event shall Time Share Lessee pay an amount for any flight conducted under this Agreement in excess of the maximum amount of expense reimbursement permitted in accordance with Section 91.501(d) of the FAR, which expenses include and are limited to: |
6.1 | fuel, oil, lubricants, and other additives; | ||
6.2 | travel expenses of the crew, including food, lodging and ground transportation; | ||
6.3 | hangar and tie down costs away from the Aircrafts Operating Base; | ||
6.4 | insurance obtained for the specific flight; | ||
6.5 | landing fees, airport taxes and similar assessments; | ||
6.6 | customs, foreign permit, and similar fees directly related to the flight; | ||
6.7 | in-flight food and beverages; | ||
6.8 | passenger ground transportation; | ||
6.9 | flight planning and weather contract services; and | ||
6.10 | an additional charge equal to 100% of the expenses listed in Section 6.1. |
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7. | Invoices and Payment. Quarterly, in arrears, Time Share Lessor shall provide an invoice to Time Share Lessee for an amount determined in accordance with Section 6 above. Time Share Lessee shall remit the full amount of any such invoice, together with any applicable Taxes under Section 8, to Time Share Lessor promptly by the earlier of (i) the fifteenth (15 th ) day after the invoice date, or (ii) the last Business Day of the calendar year during which the flight was conducted. | |
8. | Taxes. No payments to be made by Time Share Lessee under Section 6 of this Agreement include, and Time Share Lessee shall be responsible for, shall indemnify and hold harmless Time Share Lessor against, any Taxes which may be assessed or levied as a result of the lease of the various Aircraft to Time Share Lessee, or the use of the various Aircraft by Time Share Lessee, or the provision of a taxable transportation service to Time Share Lessee using the various Aircraft. Time Share Lessee shall remit to Time Share Lessor all such Taxes together with each payment made pursuant to Section 7. | |
9. | Scheduling Flights. |
9.1 | Submitting Flight Requests. Time Share Lessee shall submit requests for flight time and proposed flight schedules to the Schedule Keeper as far in advance of any given flight as possible. Time Share Lessee shall provide at least the following information for each proposed flight prior to scheduled departure: departure airport; destination airport; date and time of departure; the names of all passengers; purpose of the flight for each passenger; the nature and extent of luggage and/or cargo to be carried; the date and time of return flight, if any; and any other information concerning the proposed flight that may be pertinent or required by Time Share Lessor or Time Share Lessors flight crew. | ||
9.2 | Approval of Flight Requests. Each use of an Aircraft by Time Share Lessee shall be subject to the Schedule Keepers prior approval. Schedule Keeper may approve or deny any flight scheduling request in Schedule Keepers sole discretion. Schedule Keeper shall be under no obligation to approve any flight request submitted by Time Share Lessee, and shall have final authority over the scheduling of all Aircraft. | ||
9.3 | Subordinated Use of Aircraft. Time Share Lessees rights to schedule use of the various Aircraft during the Term of this Agreement shall at all times be subordinate to the Aircraft use requirements of Time Share Lessor, and Time Share Lessor shall at all times be entitled to preempt any scheduled, unscheduled, and anticipated use of any Aircraft by Time Share Lessee, notwithstanding any prior approval by Schedule Keeper of a request by Time Share Lessee to schedule a flight. |
10. | Title and Registration . Time Share Lessor has exclusive legal and equitable title to each Aircraft. Time Share Lessee acknowledges that title to each Aircraft shall remain vested in Time Share Lessor . Time Share Lessee undertakes, to the extent permitted by Applicable Law, to do all such further acts, deeds, assurances or things as, in the reasonable opinion of Time Share Lessor, may be necessary or desirable in order to protect or preserve Time Share Lessors title to the various Aircraft. | |
11. | Aircraft Maintenance and Flight Crew. Time Share Lessor shall be solely responsible for maintenance, preventive maintenance and required or otherwise necessary inspections of each Aircraft, and shall take such requirements into account in scheduling the Aircraft. No period of maintenance, preventative maintenance, or inspection shall be delayed or postponed for the purpose of scheduling the Aircraft, unless said maintenance or inspection can be safely conducted at a later time in compliance with all Applicable Laws and regulations, and within the sound discretion of the Pilot in Command. | |
12. | Flight Crews. Time Share Lessor shall provide to Time Share Lessee a qualified flight crew for each flight conducted in accordance with this Agreement. The members of the flight crew may be either employees or independent contractors of Time Share Lessor. In either event, the flight crew shall be and remain under the exclusive command and control of Time Share Lessor in all phases of all flights conducted hereunder. |
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13. | OPERATIONAL CONTROL. THE PARTIES EXPRESSLY AGREE THAT TIME SHARE LESSOR SHALL HAVE AND MAINTAIN OPERATIONAL CONTROL OF ALL AIRCRAFT FOR ALL FLIGHTS OPERATED UNDER THIS AGREEMENT, AND THAT THE INTENT OF THE PARTIES IS THAT THIS AGREEMENT CONSTITUTE A TIME SHARING AGREEMENT AS SUCH TERM IS DEFINED IN SECTION 91.501(C)(1) OF THE FAR. TIME SHARE LESSOR SHALL EXERCISE EXCLUSIVE AUTHORITY OVER INITIATING, CONDUCTING, OR TERMINATING ANY FLIGHT CONDUCTED ON BEHALF OF TIME SHARE LESSEE PURSUANT TO THIS AGREEMENT. | |
14. | Authority of Pilot In Command. Notwithstanding that Time Share Lessor shall have Operational Control of the Aircraft during any flight conducted pursuant to this Agreement, Time Share Lessor and Time Share Lessee expressly agree that the Pilot in Command, in his or her sole discretion, may terminate any flight, refuse to commence any flight, or take any other flight-related action which in the judgment of the Pilot in Command is necessary to ensure the safety of the Aircraft, the flight crew, the passengers, and persons and property on the ground. The Pilot in Command shall have final and complete authority to postpone or cancel any flight for any reason or condition that in his or her judgment would compromise the safety of the flight. No such action of the Pilot in Command shall create or support any liability of Time Share Lessor to Time Share Lessee for loss, injury, damage or delay. | |
15. | Passengers and Baggage . Time Share Lessee may carry on the Aircraft on all flights under this Agreement such passengers and baggage/cargo as Time Share Lessee in its sole but reasonable discretion shall determine; provided, however, that the passengers to be carried on such flights shall be limited to those permitted under the pertinent provisions of Part 91 of the FAR, and that the number of such passengers shall in no event exceed the number of passenger seats legally available in the Aircraft being used for a particular flight, and the total load, including fuel and oil in such quantities as the Pilot in Command shall determine to be required, shall not exceed the maximum allowable load for the Aircraft. | |
16. | Prohibited Items . Time Share Lessee shall not cause or permit to be carried on board any Aircraft, and shall not cause or permit any passenger to carry on board any Aircraft, any contraband, prohibited dangerous goods, or prohibited controlled substances on any Aircraft at any time. Upon any breach of this Section 16, Time Share Lessor shall have the right to terminate this Agreement upon delivery to Time Share Lessee of a written notice of termination. Time Share Lessee shall indemnify and hold Time Share Lessor harmless from and against any claims, fines, penalties, costs and expenses (including reasonable attorneys fees) incurred as a result of any breach of this Section 16. The indemnity and hold harmless obligations of Time Share Lessee arising under this Section 16 shall survive any termination or expiration of this Agreement. | |
17. | Force Majeure. Time Share Lessor shall not be liable for delay or failure to furnish any Aircraft and/or flight crew pursuant to this Agreement when such failure is caused by government regulation or authority, mechanical difficulty, war, civil commotion, strikes or labor disputes, weather conditions, acts of God or other unforeseen or unanticipated circumstances. | |
18. | Insurance. |
18.1 | Liability. Time Share Lessor shall maintain, or cause to be maintained, bodily injury and property damage, liability insurance in an amount no less than Five Hundred Million United States Dollars (US$500,000,000.00) Combined Single Limit for the benefit of itself, and Time Share Lessee in connection with the use of any Aircraft. Said policy shall be an occurrence policy naming Time Share Lessor as Named Insured, and Time Share Lessee as an Additional Insured. | ||
18.2 | Hull. Time Share Lessor shall maintain, or cause to be maintained, all risks aircraft hull insurance for each Aircraft in amounts determined from time to time by agreement of Time Share Lessor and the provider of the insurance, and such insurance shall name Time Share Lessor and any first lien security interest holder as loss payees as their interests may appear. | ||
18.3 | Additional Insurance. Time Share Lessor will use reasonable efforts to provide such additional insurance coverage as Time Share Lessee shall request or require, provided, however, that the cost |
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of such additional insurance shall be borne by Time Share Lessee as set forth in Section 6.4 of this Agreement. | |||
18.4 | Insurance Certificates. If requested, Time Share Lessor will provide Time Share Lessee with a copy of its Certificate of Insurance. |
19. | Representations and Warranties. Time Share Lessee represents and warrants that: |
19.1 | Time Share Lessee will use the various Aircraft solely for his own use and the use of his family and guests, and Time Share Lessee will not use any Aircraft for the purpose of providing transportation of passengers or cargo for compensation or hire. | ||
19.2 | Time Share Lessee shall refrain from incurring any mechanics or other lien in connection with inspection, preventative maintenance, maintenance or storage of the various Aircraft, whether permissible or impermissible under this Agreement, nor shall there be any attempt by Time Share Lessee to convey, mortgage, assign, lease, sublease, or any way alienate any Aircraft or create any kind of lien or security interest involving any Aircraft or do anything or take any action that might mature into such a lien. | ||
19.3 | During the Term of this Agreement, Time Share Lessee will abide by and conform to all Applicable Laws, governmental and airport orders, rules and regulations, as shall from time to time be in effect relating in any way to the operation and use of any Aircraft by a time sharing Time Share Lessee. |
20. | No Assignments Neither this Agreement nor any partys interest herein shall be assignable to any other party whatsoever. | |
21. | Modification . This Agreement may not be modified, altered, or amended except by written agreement executed by both parties. | |
22. | Prohibited or Unenforceable Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibitions or unenforceability in any jurisdiction. To the extent permitted by Applicable Law, each of Time Share Lessor and Time Share Lessee hereby waives any provision of Applicable Law which renders any provision hereof prohibited or unenforceable in any respect. | |
23. | Binding Effect. This Agreement, including all agreements, covenants, representations and warranties, shall be binding upon and inure to the benefit of, and may be enforced by Time Share Lessor and its successors and assigns, and Time Share Lessee. | |
24. | Headings. The section headings in this Agreement are for convenience of reference only and shall not modify, define, expand, or limit any of the terms or provisions hereof. | |
25. | Amendments. No term or provision of this Agreement may be changed, waived, discharged, or terminated orally, but only by an instrument in writing signed by both parties. | |
26. | No Waiver. No delay or omission in the exercise or enforcement or any right or remedy hereunder by either party shall be construed as a waiver of such right or remedy. All remedies, rights, undertakings, obligations, and agreements contained herein shall be cumulative and not mutually exclusive, and in addition to all other rights and remedies which either party possesses at law or in equity. | |
27. | Notices. All communications, declarations, demands, consents, directions, approvals, instructions, requests and notices required or permitted by this Agreement shall be in writing and shall be deemed to have been duly given or made when delivered personally or transmitted electronically by e-mail or facsimile, receipt acknowledged, or in the case of documented overnight delivery service or registered or certified mail, |
8
return receipt requested, delivery charge or postage prepaid, on the date shown on the receipt therefor, in each case at the address set forth below: |
If to Time Share Lessor:
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Bank of America, NA | Tel: | 704-819-8609 | |||
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100 North Tryon Street | Fax: | 704-409-0968 | |||
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Charlotte, NC 28255 | |||||
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Attn: General Counsel | |||||
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With a copy to:
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GKG, Law, P.C. | Tel: | 202-342-5251 | |||
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1054 31 st Street, N.W., Suite 200 | Fax: | 202-342-5219 | |||
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Washington, D.C. 20007 | |||||
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Attn: Keith G. Swirsky, Esq. | |||||
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||||||
If to Time Share Lessee:
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To Time Share Lessees home address | |||||
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and/or telephone number on file with | |||||
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Time Share Lessor at the time of the notice. | |||||
|
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If to Schedule Keeper:
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Bank of America Aircraft Scheduling | Tel: | 800-238-3151 | |||
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5416 Airport Drive | Fax: | 704-683-7321 | |||
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Charlotte, NC 28208-5734 | |||||
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Attn: Senior Vice President, Aviation Executive |
28. | Governing Law. This Agreement has been negotiated and delivered in the State of North Carolina and shall in all respects be governed by, and construed in accordance with, the laws of the State of North Carolina including all matters of construction, validity and performance, without giving effect to its conflict of laws provisions. | |
29. | Jurisdiction and Venue . Exclusive jurisdiction and venue over any and all disputes between the parties arising under this Agreement shall be in, and for such purpose each party hereby submits to the jurisdiction of, the state and federal courts serving the State of North Carolina. | |
30. | DISCLAIMER. Each Aircraft is being leased by the Time Share Lessor to the Time Share Lessee hereunder on a completely as is, where is, basis, which is acknowledged and agreed to by the Time Share Lessee. The warranties and representations set forth in this Agreement are exclusive and in lieu of all other representations or warranties whatsoever, express or implied, and Time Share Lessor has not made and shall not be considered or deemed to have made (whether by virtue of having leased any Aircraft under this Agreement, or having acquired any Aircraft, or having done or failed to do any act, or having acquired or failed to acquire any status under or in relation to this Agreement or otherwise) any other representation or warranty whatsoever, express or implied, with respect to any Aircraft or to any part thereof, and specifically, without limitation, in this respect Time Share Lessor disclaims all representations and warranties concerning the title, airworthiness, value, condition, design, merchantability, compliance with specifications, construction and condition of the Aircraft, or fitness for a particular use of any Aircraft and as to the absence of latent and other defects, whether or not discoverable, and as to the absence of any infringement or the like, hereunder of any patent, trademark or copyright, and as to the absence of obligations based on strict liability in tort, or as to the quality of the material or workmanship of any Aircraft or any part thereof or any other representation or warranty whatsoever, express or implied (including any implied warranty arising from a course of performance or dealing or usage of trade), with respect to any Aircraft or any part thereof. Time Share Lessee hereby waives, releases, disclaims and renounces all expectation of or reliance upon any such and other warranties, obligations and liabilities of Time Share Lessor and rights, claims and remedies of Time Share Lessee against Time Share Lessor, express or implied, arising by law or otherwise, including but not limited to (i) any implied warranty of merchantability of fitness for any particular use, (ii) any implied warranty arising from course of performance, course of dealing or usage of trade, (iii) any obligation, liability, right, claim or remedy in tort, whether or not arising from the negligence of Time Share Lessor, actual or imputed, and (iv) any obligation, liability, right, claim or remedy for loss of or damage to any Aircraft, for loss of use, revenue or profit with respect to any Aircraft, or for any other direct, indirect, incidental or consequential damages. |
9
31. | INDEMNITY. (a) Except as provided in Sections 31(b) and (c) below, Time Share Lessee hereby releases, and shall defend, indemnify and hold harmless Time Share Lessor and Time Share Lessors shareholders, members, directors, officers, managers, employees, successors and assigns, from and against, any and all claims, damages, losses, liabilities, demands, suits, judgments, causes of action, civil and criminal legal proceedings, penalties, fines, and other sanctions, and any attorneys fees and other reasonable costs and expenses, directly or indirectly arising from this Agreement, and/or the operation or use of any aircraft under this Agreement by Time Share Lessee, and/or the carriage or presence on board any aircraft of any contraband, prohibited dangerous goods, or prohibited controlled substances, except to the extent arising from the gross negligence or willful misconduct of Time Share Lessor or the flight crew. In no event shall Time Share Lessor be liable to Time Share Lessee or any person claiming by or through Time Share Lessee for any indirect, incidental, special, consequential, or punitive damages of any kind or nature. |
(b) | Notwithstanding the provisions of Section 31(a) above, Time Share Lessor agrees to accept the proceeds of the hull and liability insurance required by this Agreement as its sole recourse against Time Share Lessee in the event of any claim by Time Share Lessee relating to any type of injury, death or property damage for which such insurance is being provided under this Agreement. | ||
(c) | The limitations provided for in Section 31(b) will not operate against Time Share Lessor to the extent that insurance proceeds are withheld or reduced due to the actions or inactions of Time Share Lessee. |
32. | Counterparts. This Agreement may be executed by the parties hereto in two (2) or more separate counterparts, each and all of which when so executed and delivered shall be an original, and all of which shall together constitute but one and the same instrument. | |
33. | Entire Agreement. This Agreement constitutes the entire agreement of the parties as of the Effective Date and supersedes all prior or independent, oral or written agreements, understandings, statements, representations, commitments, promises, and warranties made with respect to the subject matter of this Agreement. | |
34. | TRUTH IN LEASING. | |
WITHIN THE TWELVE (12) MONTH PERIOD PRECEDING THE DATE OF THIS AGREEMENT, EACH AIRCRAFT HAS BEEN INSPECTED AND MAINTAINED IN ACCORDANCE WITH THE PROVISIONS OF FAR 91.409. | ||
THE PARTIES HERETO CERTIFY THAT DURING THE TERM OF THIS AGREEMENT AND FOR OPERATIONS CONDUCTED HEREUNDER, EACH AIRCRAFT WILL BE MAINTAINED AND INSPECTED IN ACCORDANCE WITH THE PROVISIONS OF FAR 91.409. | ||
TIME SHARE LESSOR ACKNOWLEDGES THAT WHEN IT OPERATES ANY AIRCRAFT ON BEHALF OF TIME SHARE LESSEE UNDER THIS AGREEMENT, TIME SHARE LESSOR SHALL BE KNOWN AS, CONSIDERED, AND IN FACT WILL BE THE OPERATOR OF SUCH AIRCRAFT. EACH PARTY HERETO CERTIFIES THAT IT UNDERSTANDS THE EXTENT OF ITS RESPONSIBILITIES, SET FORTH HEREIN, FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS. | ||
AN EXPLANATION OF FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FEDERAL AVIATION ADMINISTRATION FLIGHT STANDARDS DISTRICT OFFICE. | ||
THE PARTIES HERETO CERTIFY THAT A TRUE COPY OF THIS AGREEMENT SHALL BE CARRIED ON EACH AIRCRAFT AT ALL TIMES, AND SHALL BE MADE AVAILABLE FOR INSPECTION UPON REQUEST BY AN APPROPRIATELY CONSTITUTED IDENTIFIED REPRESENTATIVE OF THE ADMINISTRATOR OF THE FAA. |
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|
TIME SHARE LESSOR: | ||||
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Bank of America, NA | ||||
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By: | /s/ Edward P. OKeefe | |||
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Print: | Edward P. OKeefe | |||
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Title: | General Counsel | |||
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TIME SHARE LESSEE: | ||||
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/s/ Brian T. Moynihan | ||||
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Brian T. Moynihan |
11
RE:
|
FAR Section 91.23 FSDO Notification
First Flight Under Aircraft Time Sharing Agreement of Gulfstream Aerospace G-VSP aircraft bearing U.S. registration number N838BA, and manufacturers serial number 5140 |
|
Sincerely, | ||
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|
Fred Dow |
12
RE:
|
FAR Section 91.23 FSDO Notification
First Flight Under Aircraft Time Sharing Agreement of Gulfstream Aerospace G-V aircraft bearing U.S. registration number N754BA, and manufacturers serial number 5007 |
|
Sincerely, | ||
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Fred Dow |
13
RE:
|
FAR Section 91.23 FSDO Notification
First Flight Under Aircraft Time Sharing Agreement of Gulfstream Aerospace G-V aircraft bearing U.S. registration number N795BA, and manufacturers serial number 5031 |
|
Sincerely, | ||
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Fred Dow |
14
RE:
|
FAR Section 91.23 FSDO Notification
First Flight Under Aircraft Time Sharing Agreement of Gulfstream Aerospace G-VSP aircraft bearing U.S. registration number N837BA, and manufacturers serial number 5122 |
|
Sincerely, | ||
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Fred Dow |
15
RE:
|
FAR Section 91.23 FSDO Notification
First Flight Under Aircraft Time Sharing Agreement of Dassault Aviation Falcon 2000 aircraft bearing U.S. registration number N676BA, and manufacturers serial number 176 |
|
Sincerely, | ||
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|
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|
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|
Fred Dow |
16
RE:
|
FAR Section 91.23 FSDO Notification
First Flight Under Aircraft Time Sharing Agreement of Dassault Aviation Falcon 2000 aircraft bearing U.S. registration number N620BA, and manufacturers serial number 220 |
|
Sincerely, | ||
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|
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Fred Dow |
17
1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. |
2. | Print the Award Agreement and file it with your important papers. |
3. | Accept your Award Agreement through the online acceptance process.* |
4. | Designate a beneficiary for your award by completing a Beneficiary Designation Form and returning it to the address listed on the form. |
* | If you do not accept your Award Agreement through the online acceptance process by November 15, 2009, or such other date that may be communicated, Bank of America will automatically accept the Award Agreement on your behalf. |
| You must not work for a named competitor of Bank of America during the remaining vesting period of your award. On the next page is the current list of named competitors. This list will be updated annually. The list in effect at your termination of employment will control. |
| You must annually provide a written certification that you are not working for any of the named competitors. Each December, Bank of America will send to the most recent mailing address you have on record a certification form for you to complete and return. If you do not receive your form by early in the new year, you are responsible for obtaining a certification form by contacting the Bank of America Personnel Center at 1.800.556.6044. You will be considered in breach of the vesting condition if you fail to provide written certification as and when required. It is your sole responsibility to ensure that the company receives your annual certification. Accordingly, you need to keep the company apprised of any changes to your mailing address. |
* | Includes any subsidiaries and affiliates of the listed entities |
AWARD | ||||
GRANTED TO | GRANT DATE | AMOUNT | ||
1. | Subject to the terms and conditions of this Agreement, Bank of America grants to you the Award in the total amount shown above, payable in cash. The Award amount was calculated to include interest, and no additional interest will be credited with respect to the Award. |
2. | You acknowledge having read and agree to be bound by all the terms and conditions of this Agreement. |
3. | The Award shall become earned by, and payable to, you in the increments and on the dates shown on the enclosed Exhibit A. |
4. | By executing and returning a Beneficiary Designation Form, you may designate a beneficiary to receive payment of the Award in the event of your death while in service with Bank of America or its Subsidiaries. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate. A Beneficiary Designation Form has been included in your Award package . |
5. | Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your electronic mail or postal address as shown on the records of Bank of America from time to time, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time. |
6. | This Award and all payments thereof, are subject to all applicable payroll and withholding taxes. Regardless of any employer withholding on your Award, you are responsible for proper payment and |
reporting of any income tax, social security taxes and other taxes that are due as a result of your Award. | ||
7. | The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this Award or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be performed, and no other courts. | |
8. | In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding this Award. Any prior agreements, commitments or negotiations concerning this Award are superseded. This Agreement may only be amended by a written instrument signed by both parties. | |
9. | This Agreement is intended to comply with Section 409A of the Internal Revenue Code to the extent applicable. Notwithstanding any provision of the Agreement to the contrary, the Agreement shall be interpreted, operated and administered consistent with this intent. | |
10. | If you move to any country outside of the United States during the term of your Award, additional terms and conditions may apply to your Award. Bank of America reserves the right to impose other requirements on the Award to the extent Bank of America determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Award and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. |
BANK OF AMERICA CORPORATION
|
ASSOCIATE | |||
|
||||
By:
|
||||
|
||||
Chairman, Chief Executive Officer and President
|
||||
|
Portion of Cash that | ||
Payment Date* | Becomes Earned and Payable | |
First anniversary of Grant Date | one-third (1/3) of Award | |
Second anniversary of Grant Date | one-third (1/3) of Award | |
Third anniversary of Grant Date | one-third (1/3) of Award |
* | Payment shall be made on or as soon as administratively practicable after the applicable payment date, generally within 30 days. |
(i) | Death, Disability or Termination by Bank of America due to Workforce Reduction or Divestiture . Any unearned portion of the Award shall become immediately earned as of the date of your termination of employment if your termination is due to (A) death, (B) Disability, (C) Workforce Reduction or (D) Divestiture. | ||
(ii) | Termination by Bank of America Without Cause . If your employment is terminated by your employer without Cause (not including Workforce Reduction or Divestiture), then any unearned portion of the Award shall become immediately earned as of such date. | ||
(iii) | Termination by Bank of America With Cause . If your employment is terminated by your employer with Cause, then any unearned portion of the Award shall be immediately canceled as of your employment termination date. | ||
(iv) | Termination by You . If you voluntarily terminate your employment prior to attaining the Rule of 60, then any unearned portion of the Award shall be immediately canceled as of your employment termination date. |
(i) | Associates Who Meet Rule of 60 . If you meet the Rule of 60 (or will meet the Rule of 60 on or before the third anniversary of the Grant Date), except in the case of your termination of employment due to death, to the extent that your Award becomes earned as described in paragraph (b), it will be payable at such |
time as provided in the Payment Schedule described in paragraph (a) (without regard to whether you are employed by Bank of America and its Subsidiaries). To the extent that your Award becomes earned as a result of a termination of employment due to your death, it shall become payable as soon as administratively practicable after your death, generally within 30 days after notification of termination from the payroll system. | |||
(ii) | Associates Who Do Not Meet Rule of 60 . If you do not meet the Rule of 60 (and will not meet the Rule of 60 on or before the third anniversary of the Grant Date), to the extent that your Award becomes earned as described in paragraph (b), it will be payable as soon as administratively practicable after your termination of employment, generally within 30 days after notification of termination from the payroll system. |
Name of Beneficiary | Birthdate | Address | Relationship | |||
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Name of Beneficiary | Birthdate | Address | Relationship | |||
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___ | Rule 1 . The death benefits shall be paid in equal shares to those named Beneficiaries (either Primary or Secondary, as applicable) who survive me. |
___ | Rule 2 . The death benefits shall be paid in equal shares to those named Beneficiaries (either Primary or Secondary, as applicable) who survive me and to the surviving issue collectively of each named Beneficiary (either Primary or Secondary, as applicable) who does not survive me but who leaves issue surviving me, with the equal share for such surviving issue of such deceased named Beneficiary to be divided among and paid to such issue on a per stirpes basis. (Issue means lineal descendants and includes adopted persons.) |
Signature of Participant:
|
Date: | |||||
|
Name of Participant (please print):
|
||
|
Participants Person Number:
|
||
|
1. | Review the Award Agreement to ensure you understand its provisions. With each award you receive, provisions of your Award Agreement may change so it is important to review your Award Agreement. | |
2. | Print the Award Agreement and file it with your important papers. | |
3. | Accept your Award Agreement through the online acceptance process.* | |
4. | Designate a beneficiary for your award by completing a Beneficiary Designation Form and returning it to the address listed on the form. |
* | If you do not accept your Award Agreement through the online acceptance process by November 15, 2009, or such other date that may be communicated, Bank of America will automatically accept the Award Agreement on your behalf. |
GRANTED TO | GRANT DATE | AWARD AMOUNT | ||
|
||||
|
1. | Subject to the terms and conditions of this Agreement, Bank of America grants to you the Award in the total amount shown above, payable in cash. The Award amount was calculated to include interest, and no additional interest will be credited with respect to the Award. | |
2. | You acknowledge having read and agree to be bound by all the terms and conditions of this Agreement. | |
3. | The Award shall become earned by, and payable to, you in the increments and on the dates shown on the enclosed Exhibit A. | |
4. | By executing and returning a Beneficiary Designation Form, you may designate a beneficiary to receive payment of the Award in the event of your death while in service with Bank of America or its Subsidiaries. If you do not designate a beneficiary or if your designated beneficiary does not survive you, then your beneficiary will be your estate. A Beneficiary Designation Form has been included in your Award package. | |
5. | Any notice which either party hereto may be required or permitted to give to the other shall be in writing and may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service, postage prepaid, to such electronic mail or postal address and directed to such person as Bank of America may notify you from time to time; and to you at your electronic mail or postal address as shown on the records of Bank of America from time to time, or at such other electronic mail or postal address as you, by notice to Bank of America, may designate in writing from time to time. | |
6. | This Award, and all payments thereof, are subject to all applicable payroll and withholding taxes. Regardless of any employer withholding on your Award, you are responsible for proper payment and reporting of any income tax, social security taxes and other taxes that are due as a result of your Award. |
7. | The validity, construction and effect of this Agreement are governed by, and subject to, the laws of the State of Delaware and the laws of the United States. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this Award or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of North Carolina and agree that such litigation shall be conducted solely in the courts of Mecklenburg County, North Carolina or the federal courts for the United States for the Western District of North Carolina, where this grant is made and/or to be performed, and no other courts. | |
8. | In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Agreement, and the Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. This Agreement constitutes the final understanding between you and Bank of America regarding this Award. Any prior agreements, commitments or negotiations concerning this Award are superseded. This Agreement may only be amended by a written instrument signed by both parties. | |
9. | If you move to any country outside of the United States during the term of your Award, additional terms and conditions may apply to your Award. Bank of America reserves the right to impose other requirements on the Award to the extent Bank of America determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Award and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. |
BANK OF AMERICA CORPORATION | ASSOCIATE | |||||||
|
||||||||
By:
|
||||||||
|
||||||||
|
||||||||
Chairman, Chief Executive Officer and President | ||||||||
|
Portion of Cash that Becomes | ||
Payment Date* | Earned and Payable | |
March 31, 2009
|
one-twelfth (1/12) of Award | |
June 30, 2009
|
one-twelfth (1/12) of Award | |
September 30, 2009
|
one-twelfth (1/12) of Award | |
December 31, 2009
|
one-twelfth (1/12) of Award | |
February 13, 2011
|
one-third (1/3) of Award | |
February 13, 2012
|
one-third (1/3) of Award |
* | Payment shall be made on or as soon as administratively practicable after the applicable payment date, generally within 30 days. |
(i) | Death, Disability, or Termination by Bank of America due to Workforce Reduction or Divestiture . Any unearned portion of the Award shall become immediately earned and payable as of the date of your termination of employment if your termination is due to (A) death, (B) Disability, (C) Workforce Reduction or (D) Divestiture. (Payment will be made as soon as administratively practicable, generally within 30 days after notification of termination from the payroll system.) | ||
(ii) | Termination by Bank of America Without Cause . If your employment is terminated by your employer without Cause (not including Workforce Reduction or Divestiture), then any unearned portion of the Award shall become immediately earned and payable as of such date. (Payment will be made as soon as administratively practicable, generally within 30 days after notification of termination from the payroll system.) | ||
(iii) | Termination by Bank of America With Cause . If your employment is terminated by your employer with Cause, then any unearned portion of the Award shall be immediately canceled as of your employment termination date. | ||
(iv) | Termination by You . If you voluntarily terminate your employment, then any unearned portion of the Award shall be immediately canceled as of your employment termination date. |
Cause shall be defined as that term is defined in your offer letter or other applicable employment agreement; or, if there is no such definition, Cause means a termination of your employment with Bank of America and its Subsidiaries if it occurs in conjunction with a determination by your employer that you have (i) committed an act of fraud or dishonesty in the course of your employment; (ii) been convicted of (or plead no contest with respect to) a crime constituting a felony; (iii) committed an act or omission which causes you or Bank of America or its Subsidiaries to be in violation of federal or state securities laws, rules or regulations, and/or the rules of any exchange or association of which Bank of America or its Subsidiaries is a member, including statutory disqualification; (iv) failed to perform your job function(s), which Bank of America views as being material to your position and the overall business of Bank of America and its Subsidiaries under circumstances where such failure is detrimental to Bank of America or any Subsidiary; (v) materially breached any written policy applicable to associates of Bank of America and its Subsidiaries including, but not limited to, the Bank of America Corporation Code of Ethics and General Policy on Insider Trading; or (vi) made an unauthorized disclosure of any confidential or proprietary information of Bank of America or its Subsidiaries or have committed any other material violation of Bank of Americas written policy regarding Confidential and Proprietary Information. | |||
Divestiture means a termination of your employment with Bank of America and its Subsidiaries as the result of a divestiture or sale of a business unit as determined by your employer based on the personnel records of Bank of America and its Subsidiaries. | |||
Workforce Reduction means your termination of employment with Bank of America and its Subsidiaries as a result of a labor force reduction, realignment or similar measure as determined by your employer and (i) you are officially notified in writing of your termination of employment due to a workforce reduction and eligibility for the Corporate Severance Program (or any successor program), or (ii) if not eligible for the Corporate Severance Program, you are notified in writing by an authorized officer of Bank of America or any Subsidiary that the termination is as a result of such action. Your termination of employment shall not be considered due to Workforce Reduction unless you execute all documents required under the Corporate Severance Program or otherwise, including without limitation any required release of claims, within the applicable time frames set forth in such documents or as prescribed by Bank of America. In the event you fail to execute all required documents in a timely fashion, your termination of employment will not be treated as a Workforce Reduction, and if any portion of your Award has been earned or paid to you after your termination of employment but before your failure to execute all required documents, you covenant and agree that you will have no right, title or interest in such amount earned or paid and that you will cause such amount to be returned immediately to Bank of America upon notice. |
Name of Beneficiary | Birthdate | Address | Relationship | |||
_________________________
|
___________ | _______________ | ____________ | |||
_________________________
|
___________ | _______________ | ____________ | |||
_________________________
|
___________ | _______________ | ____________ |
Name of Beneficiary | Birthdate | Address | Relationship | |||
_________________________
|
___________ | _______________ | ____________ | |||
_________________________
|
___________ | _______________ | ____________ | |||
_________________________
|
___________ | _______________ | ____________ |
___
|
Rule 1 . The death benefits shall be paid in equal shares to those named Beneficiaries (either Primary or Secondary, as applicable) who survive me. | |
|
||
___
|
Rule 2 . The death benefits shall be paid in equal shares to those named Beneficiaries (either Primary or Secondary, as applicable) who survive me and to the surviving issue collectively of each named Beneficiary (either Primary or Secondary, as applicable) who does not survive me but who leaves issue surviving me, with the equal share for such surviving issue of such deceased named Beneficiary to be divided among and paid to such issue on a per stirpes basis. (Issue means lineal descendants and includes adopted persons.) |
Signature of Participant:
|
Date: | |||||
|
Name of Participant (please print):
|
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Participants Person Number:
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|
Year Ended December 31 | ||||||||||||||||||||
(Dollars in millions) | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
Excluding Interest on Deposits
|
||||||||||||||||||||
|
||||||||||||||||||||
Income before income taxes
|
$ | (1,323 | ) | $ | 4,360 | $ | 4,428 | $ | 20,924 | $ | 31,973 | |||||||||
Equity in undistributed earnings of
unconsolidated subsidiaries
|
1,285 | (1,833 | ) | (144 | ) | (95 | ) | (315 | ) | |||||||||||
Fixed charges:
|
||||||||||||||||||||
Interest expense
|
19,977 | 23,000 | 25,074 | 34,778 | 29,514 | |||||||||||||||
1/3 of net rent expense
(1)
|
1,099 | 1,110 | 791 | 669 | 609 | |||||||||||||||
Total fixed charges
|
21,076 | 24,110 | 25,865 | 35,447 | 30,123 | |||||||||||||||
Preferred dividend requirements
(2)
|
n/m | 5,921 | 1,461 | 254 | 33 | |||||||||||||||
Fixed charges and preferred
dividends
|
21,076 | 30,031 | 27,326 | 35,701 | 30,156 | |||||||||||||||
Earnings
|
$ | 21,038 | $ | 26,637 | $ | 30,149 | $ | 56,276 | $ | 61,781 | ||||||||||
Ratio of earnings to fixed charges
|
1.00 | 1.10 | 1.17 | 1.59 | 2.05 | |||||||||||||||
Ratio of earnings to fixed charges and
preferred dividends
(2,
3)
|
n/m | | 1.10 | 1.58 | 2.05 | |||||||||||||||
Year Ended December 31 | ||||||||||||||||||||
(Dollars in millions) | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
Including Interest on Deposits
|
||||||||||||||||||||
|
||||||||||||||||||||
Income before income taxes
|
$ | (1,323 | ) | $ | 4,360 | $ | 4,428 | $ | 20,924 | $ | 31,973 | |||||||||
Equity in undistributed earnings of
unconsolidated subsidiaries
|
1,285 | (1,833 | ) | (144 | ) | (95 | ) | (315 | ) | |||||||||||
Fixed charges:
|
||||||||||||||||||||
Interest expense
|
23,974 | 30,807 | 40,324 | 52,871 | 43,994 | |||||||||||||||
1/3 of net rent expense
(1)
|
1,099 | 1,110 | 791 | 669 | 609 | |||||||||||||||
Total fixed charges
|
25,073 | 31,917 | 41,115 | 53,540 | 44,603 | |||||||||||||||
Preferred dividend requirements
(2)
|
n/m | 5,921 | 1,461 | 254 | 33 | |||||||||||||||
Fixed charges and preferred
dividends
|
25,073 | 37,838 | 42,576 | 53,794 | 44,636 | |||||||||||||||
Earnings
|
$ | 25,035 | $ | 34,444 | $ | 45,399 | $ | 74,369 | $ | 76,261 | ||||||||||
Ratio of earnings to fixed charges
|
1.00 | 1.08 | 1.10 | 1.39 | 1.71 | |||||||||||||||
Ratio of earnings to fixed charges and
preferred dividends
(2,
3)
|
n/m | | 1.07 | 1.38 | 1.71 | |||||||||||||||
(1) | Represents an appropriate interest factor. | |
(2) | Reflects the impact of the $12.4 billion goodwill impairment charge during 2010 which resulted in a negative preferred dividend requirement. | |
(3) | The earnings for 2009 were inadequate to cover fixed charges and preferred stock dividends. The earnings deficiency is a result of the accelerated accretion of $4.0 billion recorded as a result of the repurchase of TARP Preferred Stock. The coverage deficiency for fixed charges and preferred dividends was $3.4 billion. | |
n/m = not meaningful |
Name | Location | Jurisdiction | ||
100 Federal Street Limited Partnership
|
Boston, MA | Massachusetts | ||
201 North Tryon, LLC
|
Charlotte, NC | North Carolina | ||
214 North Tryon, LLC
|
Charlotte, NC | North Carolina | ||
222 Broadway, LLC
|
New York, NY | New York | ||
2007 Merrill Lynch MB Fund Capital, Ltd.
|
New York, NY | Cayman Islands | ||
2007 Merrill Lynch MB Fund Strategies, Ltd.
|
New York, NY | Cayman Islands | ||
2007 Merrill Lynch Merchant Banking Fund, L.P.
|
New York, NY | Cayman Islands | ||
2007 Merrill Lynch Merchant Banking Fund International, L.P.
|
New York, NY | Cayman Islands | ||
2008 Merrill Lynch Merchant Banking Fund International, L.P.
|
New York, NY | Cayman Islands | ||
2008 Merrill Lynch Merchant Banking Fund, L.P.
|
New York, NY | Cayman Islands | ||
1110421 Ontario Limited
|
Toronto, Ontario, Canada | Canada | ||
1300166 Ontario Limited
|
Toronto, Ontario, Canada | Canada | ||
1343190 Alberta Inc.
|
Toronto, Ontario, Canada | Canada | ||
A/M Properties, Inc.
|
Baltimore, MD | Virginia | ||
AANAH Holding LLC
|
Chicago, IL | Delaware | ||
AANAH Holding LLC II
|
Chicago, IL | Delaware | ||
AANAH Holding LLC III
|
Chicago, IL | Delaware | ||
Aarco 106 Limited
|
Chester, United Kingdom | United Kingdom | ||
Abilene Park, Inc.
|
Charlotte, NC | Delaware | ||
Abovo Investment Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Acceptance Alliance, LLC
|
Louisville, KY | Delaware | ||
Access 1 Fundo De Investimento Em Cotas De Fundo De Investimento Em Direitos Creditorios Nao Padronizado
|
Sao Paulo, Brazil | Brazil | ||
Administradora Blue 2234 S. de R.L. de C.V.
|
Mexico City, Mexico | Mexico | ||
Advest Group, Inc., The
|
New York, NY | Delaware | ||
Aguila Corp S.A.C.
|
Lima, Peru | Peru | ||
Alamo Funding II, Inc.
|
Charlotte, NC | Delaware | ||
Alexandra IV, LLC
|
New York, NY | Delaware | ||
Alie Street Investments Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 2 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 3 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 5 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 6 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 8 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 9 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 12 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 16 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 17 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 18 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 21 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 22 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 23 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 24 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 25 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 26 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 27 Limited
|
London, U.K. | United Kingdom | ||
Alie Street Investments 28 Limited
|
London, U.K. | United Kingdom | ||
Almazora Holdings S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Alnitak Sarl
|
Luxembourg, Luxembourg | Luxembourg |
1
Name | Location | Jurisdiction | ||
Alpine Associates Access Ltd.
|
New York, NY | Cayman Islands | ||
Amarillo Lane, Inc.
|
Charlotte, NC | Delaware | ||
AMM Holdings Pty Limited
|
Sydney, New South Wales, Australia | Australia | ||
Andrew VI, LLC
|
New York, NY | Delaware | ||
Anzac Peaks, Inc.
|
Charlotte, NC | Delaware | ||
Apollo Trading LLC
|
Charlotte, NC | Delaware | ||
Appold Property Management Limited
|
London, U.K. | United Kingdom | ||
Ascend Access LLC
|
New York, NY | Delaware | ||
Ascend Access Ltd.
|
New York, NY | Cayman Islands | ||
Asesores Argentinos de Seguros S.A.
|
Buenos Aires, Argentina | Argentina | ||
Asia Investment Consulting Ltd.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Asian American Merchant Bank Ltd.
|
Singapore, Singapore | Singapore | ||
Asset Backed Funding Corporation
|
Charlotte, NC | Delaware | ||
Asset Transition Management Services, Inc.
|
Jacksonville, FL | Delaware | ||
Aswan Development Associates, LLC
|
Miami, FL | Florida | ||
Aswan Village Associates, LLC
|
Miami, FL | Florida | ||
Atlanta Affordable Housing Fund Limited Partnership
|
Charlotte, NC | Georgia | ||
Atlantic Equity Corporation
|
Chicago, IL | North Carolina | ||
Audubon MM Urban Investments, LLC
|
Dallas, TX | Texas | ||
Audubon MM Urban Investments II, LLC
|
Dallas, TX | Texas | ||
Audubon Urban Investments, LLC
|
Dallas, TX | Texas | ||
Augusta Trading LLC
|
Charlotte, NC | Delaware | ||
Austin Acquisition Inc.
|
Charlotte, NC | Delaware | ||
Aztex Associates, L.P.
|
New York, NY | Delaware | ||
Aztex Corporation
|
New York, NY | Delaware | ||
B of A Issuance B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
B.A. International (Cayman) Ltd.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
BA 1998 Partners Associates Fund, L.P.
|
Chicago, IL | Delaware | ||
BA 1998 Partners Fund I, L.P.
|
Chicago, IL | Delaware | ||
BA 1998 Partners Fund II, L.P.
|
Chicago, IL | Delaware | ||
BA 1998 Partners Fund LDC
|
Chicago, IL | Cayman Islands | ||
BA 1998 Partners Master Fund I, L.P.
|
Chicago, IL | Delaware | ||
BA 1998 Partners Master Fund II, L.P.
|
Chicago, IL | Delaware | ||
BA 2001 Partners Associates Fund, L P
|
Boston, MA | Delaware | ||
BA 2001 Partners Fund II, L.P.
|
Boston, MA | Delaware | ||
BA 2001 Partners Master Fund, LLC
|
Boston, MA | Delaware | ||
BA Alternative Investment Solutions Master Fund, LLC
|
Boston, MA | Delaware | ||
BA Australia Limited
|
Sydney, New South Wales, Australia | Australia | ||
BA Auto Securitization Corporation
|
Charlotte, NC | Delaware | ||
BA Capital Company, L.P.
|
Charlotte, NC | Delaware | ||
BA Co-Invest Fund 2001 (Cayman), L.P.
|
Chicago, IL | Cayman Islands | ||
BA Co-Invest Fund 2002 (Cayman), L.P.
|
Chicago, IL | Cayman Islands | ||
BA Coinvest GP, Inc.
|
Chicago, IL | North Carolina | ||
BA Continuum Costa Rica, Limitada
|
San Jose, Costa Rica | Costa Rica | ||
BA Continuum India Private Limited
|
Hyderabad, India | India | ||
BA Continuum Management Limited
|
Port Louis, Mauritius | Mauritius | ||
BA Continuum Mexican Holdings Private Limited
|
Singapore, Singapore | Singapore | ||
BA Continuum Mexico Administracion S. de R.L. de C.V.
|
Tlaquepaque, Jalisco, Mexico | Mexico | ||
BA Continuum Mexico, S.C.
|
Tlaquepaque, Jalisco, Mexico | Mexico | ||
BA Continuum Private Limited
|
Mumbai, India | India | ||
BA Continuum Singapore International Holdings Private Limited
|
Singapore, Singapore | Singapore | ||
BA Credit Card Funding, LLC
|
Charlotte, NC | Delaware | ||
BA Custodial Services (Jersey) Limited
|
St. Helier, Jersey, Channel Islands | Channel Islands | ||
BA Direct Investment Fund M, L.P.
|
Chicago, IL | Delaware |
2
Name | Location | Jurisdiction | ||
BA Diversified Real Estate Fund, L.P.
|
Boston, MA | Delaware | ||
BA Electronic Data Processing (Guangzhou) Ltd.
|
Guangzhou, PRC | Peoples Republic of China | ||
BA Employment Services Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
BA Equity Co-Invest GP, LLC
|
Charlotte, NC | Delaware | ||
BA Equity Holdings, L.P.
|
Charlotte, NC | Delaware | ||
BA Equity Investors, Inc.
|
Chicago, IL | North Carolina | ||
BA Finance Ireland Limited
|
Dublin, Ireland | Ireland | ||
BA Financial Trading (Luxembourg) Limited
|
Luxembourg, Luxembourg | Cayman Islands | ||
BA Fund of Funds Direct, L.P.
|
Boston, MA | Delaware | ||
BA Fund Services (Cayman) Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
BA Global Funding Inc.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
BA GSS International B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
BA GSS International C.V.
|
St. Helier, Jersey, Channel Islands | Netherlands | ||
BA GSTS GP LLC
|
St. Helier, Jersey, Channel Islands | Delaware | ||
BA Hedge Fund Direct, LP
|
Boston, MA | Delaware | ||
BA Hedge Fund Solutions, LLC
|
Boston, MA | Delaware | ||
BA Insurance Group, Inc.
|
Charlotte, NC | Delaware | ||
BA Insurance Services, Inc.
|
Baltimore, MD | Maryland | ||
BA Leasing BSC, LLC
|
San Francisco, CA | Delaware | ||
BA Merchant Services, LLC
|
Louisville, KY | Ohio | ||
BA Multi-Strategy Fund, LLC
|
Boston, MA | Delaware | ||
BA Overseas Holdings
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
BA Partners Fund III, LLC
|
Chicago, IL | Delaware | ||
BA Partners Fund IV Buyout, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund IV Buyout Master Fund, L.L.C.
|
Boston, MA | Delaware | ||
BA Partners Fund IV New Century, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund IV New Century Master Fund, L.L.C.
|
Boston, MA | Delaware | ||
BA Partners Fund IV Venture, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund IV Venture Master Fund, L.L.C.
|
Boston, MA | Delaware | ||
BA Partners Fund V Buyout, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund V Buyout Master Fund, L.L.C.
|
Boston, MA | Delaware | ||
BA Partners Fund V International, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund V International Master Fund, L.L.C.
|
Boston, MA | Delaware | ||
BA Partners Fund V Opportunistic Real Estate, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund V PE Blend, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund V Venture, L.P.
|
Boston, MA | Delaware | ||
BA Partners Fund V Venture Master Fund, L.L.C.
|
Boston, MA | Delaware | ||
BA Partners Fund VI PE Blend (Cayman), L.P.
|
Boston, MA | Cayman Islands | ||
BA Partners Fund VI PE Blend, L.P.
|
Boston, MA | Delaware | ||
BA Properties, Inc.
|
Los Angeles, CA | Delaware | ||
BA Residential Securitization LLC
|
Charlotte, NC | Delaware | ||
BA SBIC Sub, Inc.
|
Chicago, IL | North Carolina | ||
BA Securities Australia Limited
|
Sydney, New South Wales, Australia | Australia | ||
BA Technology I, LLC
|
Charlotte, NC | Delaware | ||
BA Venture Management Corporation
|
Thousand Oaks, CA | Delaware | ||
BABC Global Finance Inc.
|
Toronto, Ontario, Canada | Canada | ||
BAC AAH Capital Funding LLC XI
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC I
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC II
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC III
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC IV
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC IX
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC V
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC VI
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC VII
|
Chicago, IL | Delaware |
3
Name | Location | Jurisdiction | ||
BAC AAH Capital Funding LLC VIII
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC X
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XII
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XIII
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XIV
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XIX
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XV
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XVI
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XVII
|
Chicago, IL | Delaware | ||
BAC AAH Capital Funding LLC XVIII
|
Chicago, IL | Delaware | ||
BAC AAH Preferred Exchange LLC
|
Chicago, IL | Delaware | ||
BAC AAH Preferred Exchange LLC II
|
Chicago, IL | Delaware | ||
BAC AAH Preferred Exchange LLC III
|
Chicago, IL | Delaware | ||
BAC AAH Preferred Holding LLC
|
Chicago, IL | Delaware | ||
BAC AAH Preferred Holding LLC II
|
Chicago, IL | Delaware | ||
BAC AAH Preferred Holding LLC III
|
Chicago, IL | Delaware | ||
BAC Canada Finance Company
|
Toronto, Ontario, Canada | Canada | ||
BAC CCC Fund IV Mezzanine Investments, L.L.C.
|
Chicago, IL | Delaware | ||
BAC CCC Mezzanine Investments, L.L.C.
|
Chicago, IL | Delaware | ||
BAC CCC Private Equity Investments, Inc.
|
Chicago, IL | Delaware | ||
BAC Field Services Corporation
|
Simi Valley, CA | California | ||
BAC Funding, Inc.
|
Charlotte, NC | Delaware | ||
BAC GP, LLC
|
Calabasas, CA | Nevada | ||
BAC Home Loans Servicing, LP
|
Plano, TX | Texas | ||
BAC LB Capital Funding LLC I
|
Chicago, IL | Delaware | ||
BAC LB Capital Funding LLC II
|
Chicago, IL | Delaware | ||
BAC LB Capital Funding Trust I
|
Chicago, IL | Delaware | ||
BAC LB Capital Funding Trust II
|
Chicago, IL | Delaware | ||
BAC LB Holding LLC I
|
Chicago, IL | Delaware | ||
BAC LB Holding LLC II
|
Chicago, IL | Delaware | ||
BAC LB Preferred Exchange LLC I
|
Chicago, IL | Delaware | ||
BAC LB Preferred Exchange LLC II
|
Chicago, IL | Delaware | ||
BAC LB Preferred Holding LLC I
|
Chicago, IL | Delaware | ||
BAC LB Preferred Holding LLC II
|
Chicago, IL | Delaware | ||
BAC Mezzanine Management I, L.P.
|
Chicago, IL | Delaware | ||
BAC Mezzanine Management III, L.P.
|
Chicago, IL | Delaware | ||
BAC Mezzanine Management, Inc.
|
Chicago, IL | Illinois | ||
BAC North America Holding Company
|
Charlotte, NC | Delaware | ||
BAC NUBAFA, Inc.
|
San Francisco, CA | Delaware | ||
BAC Retail Group LLC
|
Troy, MI | Michigan | ||
BAC Services Company, Inc.
|
Chicago, IL | Delaware | ||
BAC Strategic Investments B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
BAC Tax Services Corporation
|
Simi Valley, CA | California | ||
BACAP Alternative Advisors, Inc.
|
New York, NY | Missouri | ||
BACAP Alternative Montage Fund, LLC
|
New York, NY | Delaware | ||
BACAP Diversified Real Estate Fund, L.P.
|
New York, NY | Delaware | ||
BACAP Institutional Multi-Strategy Hedge Fund, Ltd.
|
New York, NY | Cayman Islands | ||
BACAP Multi-Strategy Hedge Fund, LLC
|
New York, NY | Delaware | ||
BACAP Multi-Strategy Hedge Fund, Ltd.
|
New York, NY | Cayman Islands | ||
BACDC Crossings 29th LLC
|
Dallas, TX | Delaware | ||
BACDC Crossing at Big Bear LLC
|
Dallas, TX | Delaware | ||
BACDC Crossings North Hills LLC
|
Dallas, TX | Delaware | ||
BACDC Horizons at Morgan Hill LLC
|
Dallas, TX | Delaware | ||
BACI Triad, LLC
|
Chicago, IL | Delaware |
4
Name | Location | Jurisdiction | ||
BACP Europe Fund II, L.P.
|
Chicago, IL | Delaware | ||
BACP Europe Fund IV M, L.P.
|
Chicago, IL | Delaware | ||
Bakerton Finance, Inc.
|
Charlotte, NC | Delaware | ||
BAL Corporate Aviation, LLC
|
New Castle, DE | Delaware | ||
BAL Energy Holding, LLC
|
San Francisco, CA | Delaware | ||
BAL Energy Management, LLC
|
San Francisco, CA | Delaware | ||
BAL Energy Management II, LLC
|
San Francisco, CA | Delaware | ||
BAL Global Finance (Deutschland) GmbH
|
Dusseldorf, Germany | Germany | ||
BAL Global Finance (UK) Limited
|
London, U.K. | United Kingdom | ||
BAL Global Finance Canada Corporation
|
Toronto, Ontario, Canada | Canada | ||
BAL Investment & Advisory, Inc.
|
San Francisco, CA | Delaware | ||
BAL Solar I, LLC
|
San Francisco, CA | Delaware | ||
BAL Solar II, LLC
|
San Francisco, CA | Delaware | ||
BAL Solar III, LLC
|
San Francisco, CA | Delaware | ||
Balboa Insurance Company
|
Irvine, CA | California | ||
Balboa Insurance Services, Inc.
|
Simi Valley, CA | California | ||
Balboa Life & Casualty LLC
|
Irvine, CA | Delaware | ||
Balboa Life Insurance Company
|
Irvine, CA | California | ||
Balboa Life Insurance Company of New York
|
Irvine, CA | New York | ||
Balboa Warranty Services Corporation
|
Irvine, CA | Vermont | ||
BALCAP Funding, LLC
|
San Francisco, CA | Delaware | ||
BALI Funding Luxembourg Limited
|
Luxembourg, Luxembourg | United Kingdom | ||
Balkhouse Properties Corp.
|
New York, NY | Tennessee | ||
Ballantyne Funding LLC
|
Charlotte, NC | Delaware | ||
Baltic Funding LLC
|
Charlotte, NC | Delaware | ||
BAMS Solutions, Inc.
|
Louisville, KY | Ohio | ||
BANA Alberta Funding Company, ULC
|
Calgary, Alberta, Canada | Canada | ||
BANA BACM 2000-1 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2000-2 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2001-1 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2001-PB1 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2002-2 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2002-PB2 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2003-1 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2003-2 PAWTUCKET SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2003-2 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2004-1 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2004-2 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2004-3 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2004-4 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2004-5 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2004-6 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2005-1 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2005-2 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2005-3 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2005-4 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2005-5 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2005-6 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2006-4 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BACM 2007-1 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA BOA-FUNB 2001-3 SB 1 LLC
|
Charlotte, NC | Delaware | ||
BANA CA Mortgage Company
|
Charlotte, NC | Delaware | ||
BANA Canada Funding Company Ltd.
|
Calgary, Alberta, Canada | Canada | ||
BANA CSFB 2002-CKS4 SB 1 LLC
|
Charlotte, NC | Delaware |
5
6
7
Name | Location | Jurisdiction | ||
Banc of America Capital Investors V, L.P.
|
Charlotte, NC | Delaware | ||
Banc of America Capital Management (Ireland), Limited
|
Dublin, Ireland | Ireland | ||
Banc of America Card Servicing Corporation
|
Phoenix, AZ | Arizona | ||
Banc of America CDC Special Holding Company, Inc.
|
Charlotte, NC | North Carolina | ||
Banc of America CDE I, LLC
|
Baltimore, MD | Delaware | ||
Banc of America CDE II, LLC
|
Baltimore, MD | Delaware | ||
Banc of America CDE III, LLC
|
Charlotte, NC | North Carolina | ||
Banc of America CDE IV, LLC
|
Charlotte, NC | North Carolina | ||
Banc of America CDE V, LLC
|
Charlotte, NC | North Carolina | ||
Banc of America CDE, LLC
|
Baltimore, MD | Maryland | ||
Banc of America Co-Invest Fund 2001, L.P.
|
Chicago, IL | Delaware | ||
Banc of America Co-Invest Fund 2002, L.P.
|
Chicago, IL | Delaware | ||
Banc of America Commercial, LLC
|
New York, NY | Georgia | ||
Banc of America Community Development Corporation
|
Charlotte, NC | North Carolina | ||
Banc of America Community Holdings, Inc.
|
Charlotte, NC | Missouri | ||
Banc of America Consumer Card Services, LLC
|
Charlotte, NC | North Carolina | ||
Banc of America Development, Inc.
|
Charlotte, NC | Missouri | ||
Banc of America Dutch Auction Preferred Corporation
|
Charlotte, NC | Delaware | ||
Banc of America E-Commerce Holdings, Inc.
|
Charlotte, NC | Delaware | ||
Banc of America Energy & Power Facilities Leasing I, Inc.
|
San Francisco, CA | Delaware | ||
Banc of America Financial Products, Inc.
|
Chicago, IL | Delaware | ||
Banc of America FSC Holdings, Inc.
|
San Francisco, CA | Delaware | ||
Banc of America Funding Corporation
|
Charlotte, NC | Delaware | ||
Banc of America Historic Capital Assets LLC
|
Charlotte, NC | Delaware | ||
Banc of America Historic Investments Partnership
|
Concord, CA | Illinois | ||
Banc of America Historic New Ventures, LLC
|
Baltimore, MD | Delaware | ||
Banc of America Historic Ventures, LLC
|
Charlotte, NC | North Carolina | ||
Banc of America HTC Investments LLC
|
Boston, MA | Massachusetts | ||
Banc of America Insurance Services, Inc.
|
Baltimore, MD | Maryland | ||
Banc of America Investment Advisors, Inc.
|
Boston, MA | Delaware | ||
Banc of America Investment Leasing Co., Ltd.
|
Tokyo, Japan | Japan | ||
Banc of America Large Loan, Inc.
|
Dover, DE | Delaware | ||
Banc of America Leasing & Capital, LLC
|
San Francisco, CA | Delaware | ||
Banc of America Leasing Ireland Co., Limited
|
Dublin, Ireland | Ireland | ||
Banc of America Management LLC I
|
Chicago, IL | Delaware | ||
Banc of America Management LLC III
|
Chicago, IL | Delaware | ||
Banc of America Merchant Services, LLC
|
Atlanta, GA | Delaware | ||
Banc of America Merrill Lynch Commercial Mortgage Inc.
|
Charlotte, NC | Delaware | ||
Banc of America Mortgage Capital Corporation
|
Charlotte, NC | North Carolina | ||
Banc of America Mortgage Securities, Inc.
|
Charlotte, NC | Delaware | ||
Banc of America Neighborhood Services Corporation
|
Charlotte, NC | North Carolina | ||
Banc of America Practice Solutions, Inc.
|
Columbus, OH | Ohio | ||
Banc of America Preferred Funding Corporation
|
Charlotte, NC | Delaware | ||
Banc of America Public and Institutional Financial Funding, LLC
|
San Francisco, CA | Delaware | ||
Banc of America Public Capital Corp
|
Charlotte, NC | Kansas | ||
Banc of America Securities Asia Limited
|
Hong Kong, PRC | Hong Kong, PRC | ||
Banc of America Securities Canada Co.
|
Halifax, Nova Scotia | Canada | ||
Banc of America Securities Canada Holding Corp.
|
Charlotte, NC | Delaware | ||
Banc of America Securities (India) Private Limited
|
Mumbai, India | India | ||
Banc of America Securities Limited
|
London, U.K. | United Kingdom | ||
Banc of America Securitization Holding Corporation
|
Charlotte, NC | Delaware | ||
Banc of America Specialist, Inc.
|
New York, NY | New York | ||
Banc of America Strategic Investments Corporation
|
Charlotte, NC | Delaware |
8
Name | Location | Jurisdiction | ||
Banc of America Strategic Investments LLC
|
Charlotte, NC | Delaware | ||
Banc of America Strategic Ventures, Inc.
|
Charlotte, NC | Delaware | ||
Banc of America Structured Notes, Inc.
|
Charlotte, NC | Delaware | ||
BancAmerica Capital Holdings II, L.P.
|
Chicago, IL | Delaware | ||
BancAmerica Capital Investors II, L.P.
|
Chicago, IL | Delaware | ||
BancAmerica Capital Investors SBIC II, L.P.
|
Chicago, IL | Delaware | ||
BancAmerica Coinvest Fund 2000, L.P.
|
Chicago, IL | Delaware | ||
BancBoston Aircraft Leasing Inc.
|
Boston, MA | Delaware | ||
BancBoston Capital Co-Investment Partners (2000) LP
|
Boston, MA | Delaware | ||
BancBoston Capital Co-Investment Partners (2001) LP
|
Boston, MA | Delaware | ||
BancBoston Capital Holdings Limited
|
London, U.K. | United Kingdom | ||
BancBoston Capital ICP Partners 2 LP
|
Boston, MA | Delaware | ||
BancBoston Capital ICP Partners 3 LP
|
Boston, MA | Delaware | ||
BancBoston Capital ICP Partners 3-A L.P.
|
Boston, MA | Delaware | ||
BancBoston Capital ICP Partners LP
|
Boston, MA | Delaware | ||
BancBoston Capital Money Markets Limited
|
London, U.K. | United Kingdom | ||
BancBoston Capital Private Equity Partners LP
|
Boston, MA | Delaware | ||
BancBoston Capital, Inc.
|
Boston, MA | Massachusetts | ||
BancBoston Insurance Agency of Rhode Island, Inc.
|
Pascoag, RI | Rhode Island | ||
BancBoston Investments Inc.
|
Boston, MA | Massachusetts | ||
BancBoston Leasing Services Inc.
|
Boston, MA | Massachusetts | ||
BancBoston Ventures Inc.
|
Boston, MA | Massachusetts | ||
Banco Merrill Lynch de Investimentos S.A.
|
Sao Paulo, Brazil | Brazil | ||
Bank of America Auto Receivables Securitization, LLC
|
Charlotte, NC | Delaware | ||
Bank of America California, National Association
|
San Francisco, CA | United States of America | ||
Bank of America Canada
|
Toronto, Ontario, Canada | Canada | ||
Bank of America Capital Advisors LLC
|
Boston, MA | Delaware | ||
Bank of America Capital Corporation
|
Chicago, IL | Delaware | ||
Bank of America Charitable Foundation, Inc., The
|
Charlotte, NC | Delaware | ||
Bank of America Corporation
|
Charlotte, NC | Delaware | ||
Bank of America Custodial Services (Ireland) Limited
|
Dublin, Ireland | Ireland | ||
Bank of America (GSS) Limited
|
London, U.K. | United Kingdom | ||
Bank of America GSS Nominees Limited
|
London, U.K. | England & Wales | ||
Bank of America (Hawaii) Insurance Agency, Inc.
|
Honolulu, HI | Hawaii | ||
Bank of America Healthcare Limited
|
London, U.K. | United Kingdom | ||
Bank of America Malaysia Berhad
|
Kuala Lumpur, Malaysia | Malaysia | ||
Bank of America Mexico, S.A., Institucion de Banca Multiple
|
Mexico City, Mexico | Mexico | ||
Bank of America Mortgage Securities, Inc.
|
Charlotte, NC | Delaware | ||
Bank of America, National Association
|
Charlotte, NC | United States of America | ||
Bank of America National Trust Delaware
|
Wilmington, DE | United States of America | ||
Bank of America Negocios e Participacoes Ltda.
|
Sao Paulo, Brazil | Brazil | ||
Bank of America Oregon, National Association
|
Portland, OR | United States of America | ||
Bank of America Overseas Corporation
|
Charlotte, NC | United States of America | ||
Bank of America Reinsurance Corporation
|
Burlington, VT | Vermont | ||
Bank of America Representacoes Ltda.
|
Sao Paulo, Brazil | Brazil | ||
Bank of America Rhode Island, National Association
|
Providence, RI | United States of America | ||
Bank of America Securitization Investment Trust LLC
|
Wilmington, DE | Delaware | ||
Bank of America Singapore Limited
|
Singapore, Singapore | Singapore | ||
Bank of America Student Loan Securitization Corporation
|
Charlotte, NC | Delaware | ||
Bank of America Trust and Banking Corporation (Bahamas) Limited
|
Nassau, Bahamas | Bahamas | ||
Bank of America Trust and Banking Corporation (Cayman) Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Bank of America Ventures
|
Foster City, CA | California | ||
BankAmerica Acceptance Corp.
|
Jacksonville, FL | Delaware |
9
Name | Location | Jurisdiction | ||
BankAmerica Capital I
|
Charlotte, NC | Delaware | ||
BankAmerica Capital II
|
Charlotte, NC | Delaware | ||
BankAmerica Capital III
|
Charlotte, NC | Delaware | ||
BankAmerica Capital IV
|
Charlotte, NC | Delaware | ||
BankAmerica Institutional Capital A
|
San Francisco, CA | Delaware | ||
BankAmerica Institutional Capital B
|
San Francisco, CA | Delaware | ||
BankAmerica International Financial Corporation
|
San Francisco, CA | United States of America | ||
BankAmerica International Investment Corporation
|
Chicago, IL | United States of America | ||
BankAmerica Investment Corporation
|
Chicago, IL | Delaware | ||
BankAmerica Nominees (1993) Pte Ltd.
|
Singapore, Singapore | Singapore | ||
BankAmerica Nominees (Hong Kong) Ltd.
|
Hong Kong, PRC | Hong Kong, PRC | ||
BankAmerica Nominees (Singapore) Pte. Ltd.
|
Singapore, Singapore | Singapore | ||
BankAmerica Nominees Limited (London)
|
London, U.K. | United Kingdom | ||
BankAmerica Realty Finance, Inc.
|
Los Angeles, CA | Delaware | ||
BankAmerica Realty Services, Inc.
|
San Francisco, CA | Delaware | ||
BankAmerica Special Assets Corporation
|
San Francisco, CA | Delaware | ||
BankBoston Administracao Ltda.
|
Sao Paulo, Brazil | Brazil | ||
BankBoston Capital Trust I
|
Boston, MA | Delaware | ||
BankBoston Capital Trust II
|
Boston, MA | Delaware | ||
BankBoston Capital Trust III
|
Boston, MA | Delaware | ||
BankBoston Capital Trust IV
|
Boston, MA | Delaware | ||
BankBoston Co-Investment Partners (1998) L.P.
|
Boston, MA | Delaware | ||
BankBoston Co-Investment Partners (1999) L.P.
|
Boston, MA | Delaware | ||
BankBoston International Leasing LLC
|
Providence, RI | Delaware | ||
Bankers Insurance Company, Ltd.
|
Hamilton, Bermuda | Delaware | ||
BAPCC II, LLC
|
San Francisco, CA | Delaware | ||
Bardin Road Ventures Inc.
|
New York, NY | Texas | ||
Barnett Capital I
|
Jacksonville, FL | Delaware | ||
Barnett Capital II
|
Jacksonville, FL | Delaware | ||
Barnett Capital III
|
Jacksonville, FL | Delaware | ||
BAS Capital Funding Corporation
|
Chicago, IL | Delaware | ||
BAS Oak Management, LLC
|
San Francisco, CA | Delaware | ||
BAS Oak X, LLC
|
San Francisco, CA | Delaware | ||
BAS Securitization LLC
|
Charlotte, NC | Delaware | ||
BAS/SOFI Management, LLC
|
New York, NY | Delaware | ||
BAS/SOFI VI, LLC
|
New York, NY | Delaware | ||
BASCFC-Maxcom Holdings I, LLC
|
Chicago, IL | Delaware | ||
BAVP, LP
|
Foster City, CA | Delaware | ||
Bay 2 Bay Leasing LLC
|
San Francisco, CA | Delaware | ||
Bay Area Credit Services, LLC
|
New York, NY | Delaware | ||
BayBanks Mortgage Corp.
|
Boston, MA | Massachusetts | ||
BBC Co-Investment Partners (1998) LP
|
Boston, MA | Delaware | ||
BBI Management Co. LLC
|
Boston, MA | Massachusetts | ||
BBI Switch LP
|
Boston, MA | Delaware | ||
BBV Management Co. LLC
|
Boston, MA | Massachusetts | ||
BBV Switch LP
|
Boston, MA | Delaware | ||
Beemster Bay B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
BEG Nominees (Paroc) Carried Interest Partnership, L.P.
|
Chicago, IL | Delaware | ||
Ben Franklin/Progress Capital Fund LP
|
Blue Bell, PA | Delaware | ||
Benson Nominees Limited
|
London, U.K. | England | ||
Berndale Securities Limited
|
Melbourne, Victoria, Australia | Australia | ||
Bighorn Investments Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Birchwood Funding LLC
|
Charlotte, NC | Delaware | ||
BIRMSON, L.L.C.
|
Wilton, CT | Alabama |
10
Name | Location | Jurisdiction | ||
BJCC, Inc.
|
Wilton, CT | Delaware | ||
Black Mountain Funding LLC
|
Charlotte, NC | Delaware | ||
BlackRock Health Sciences Access LLC
|
New York, NY | Delaware | ||
BlackRock Health Sciences Access LTD.
|
New York, NY | Cayman Islands | ||
Blackwood Run Trading LLC
|
Charlotte, NC | Delaware | ||
Blazer (Cayman) Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Blue Finn Holdings Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Blue Ridge Investments, L.L.C.
|
Charlotte, NC | Delaware | ||
Bluejay LLC
|
New York, NY | Delaware | ||
Bluestar Holdings Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
BoA Internationaal Krediet B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
BOA Investment Fund I, LLC
|
Charlotte, NC | North Carolina | ||
BOA Investment Fund III, LLC
|
Charlotte, NC | North Carolina | ||
BOA Investment Fund IV, LLC
|
Charlotte, NC | North Carolina | ||
BOA Investment Fund V, LLC
|
Charlotte, NC | North Carolina | ||
BoA Luxembourg S.a.r.l. / B.V.
|
Luxembourg, Luxembourg | Netherlands | ||
BoA Netherlands Cooperatieve U.A.
|
Amsterdam, The Netherlands | Netherlands | ||
BoA Trustee Services Limited
|
London, U.K. | United Kingdom | ||
BOA/Mermart Joint Venture
|
San Diego, CA | California | ||
Boatmens Insurance Agency, Inc.
|
St. Louis, MO | Missouri | ||
Bodiam Hill Limited
|
London, U.K. | United Kingdom | ||
BofA Advisors, LLC
|
Boston, MA | Delaware | ||
BofA Commodities, Inc.
|
New York, NY | Delaware | ||
BofA Distributors, Inc.
|
Boston, MA | Massachusetts | ||
BofA Financial Services, LLC
|
Boston, MA | Delaware | ||
BofA Global Capital Management Group, LLC
|
Boston, MA | Delaware | ||
BofA Pte. Ltd.
|
Singapore, Singapore | Singapore | ||
BofA Services, Inc.
|
Boston, MA | Massachusetts | ||
BofAML Asia Fund LP, LLC
|
New York, NY | Delaware | ||
BofAML Bosphorus Fund CIP Vehicle LP, LLC
|
Wilmington, DE | Delaware | ||
BofAML Europe Fund CI Vehicle GP, LLC
|
Wilmington, DE | Delaware | ||
BofAML Europe Fund CI Vehicle LP, LLC
|
Wilmington, DE | Delaware | ||
BofAML Europe Fund Holdco, LLC
|
Wilmington, DE | Delaware | ||
BofAML Europe Fund LCI Vehicle GP, LLC
|
Wilmington, DE | Delaware | ||
BofAML Europe Fund ML Vehicle GP, LLC
|
Wilmington, DE | Delaware | ||
BofAML Europe Fund ML Vehicle LP, LLC
|
Wilmington, DE | Delaware | ||
BofAML Invest Funds PLC
|
Dublin, Ireland | Ireland | ||
BofAML Trustees Limited
|
London, U.K. | United Kingdom | ||
Bonifazius Mortgage Investments LLC
|
Wilmington, DE | Delaware | ||
Boston International Holdings Corporation
|
Boston, MA | Massachusetts | ||
Boston Overseas Financial Corporation
|
New York, NY | United States of America | ||
Boston Overseas Financial Corporation S.A.
|
Buenos Aires, Argentina | Argentina | ||
Boston Overseas Holding Corporation
|
Boston, MA | Massachusetts | ||
Boston Overseas Private Equity LLC
|
Boston, MA | Delaware | ||
Boston Securities S.A. Sociedad de Bolsa
|
Buenos Aires, Argentina | Argentina | ||
Boston World Holding Corporation
|
Boston, MA | Massachusetts | ||
BR Depositor, LLC
|
Charlotte, NC | Delaware | ||
Bracebridge Corporation
|
Wilmington, DE | Delaware | ||
BRCK Holdings I AB
|
Stockholm, Sweden | Sweden | ||
BRCK Holdings II AB
|
Stockholm, Sweden | Sweden | ||
Breckenridge Investments Limited
|
London, U.K. | England | ||
Bridgewater Bay Limited Liability Partnership
|
London, U.K. | United Kingdom | ||
Brigibus Limited
|
London, U.K. | United Kingdom | ||
Bristol Pines Limited Partnership
|
Washington, DC | District of Columbia |
11
Name | Location | Jurisdiction | ||
Bristol Pines Manager LLC
|
Baltimore, MD | District of Columbia | ||
Broadcort Corporation
|
New York, NY | New York | ||
BRV Capital II Ltda
|
George Town, Grand Cayman, Cayman Is. | Brazil | ||
BTAC V L.L.C.
|
New York, NY | Delaware | ||
Bullseye Global Real Estate Partners LP
|
New York, NY | Delaware | ||
Bullseye Holdco I LLC
|
New York, NY | Delaware | ||
Bullseye Holdco II LLC
|
New York, NY | Delaware | ||
Bullseye Real Estate Advisors LLC
|
New York, NY | Delaware | ||
Bullseye Real Estate Associates LP
|
New York, NY | Delaware | ||
Business Lenders, LLC
|
New York, NY | Delaware | ||
C&S Premises-SPE, Inc.
|
Charlotte, NC | North Carolina | ||
Cabernet I, LLC
|
New York, NY | Delaware | ||
Calnevari Holdings, Inc.
|
Charlotte, NC | Delaware | ||
CalSTRS/Banc of America Capital Access Fund III, LLC
|
Chicago, IL | Delaware | ||
CalSTRS/BAML Capital Access Funds IV, LLC
|
Chicago, IL | Delaware | ||
CalSTRS/Banc of America Capital Access Fund, LLC
|
Chicago, IL | Delaware | ||
Calvada Lane Pty Limited
|
Charlotte, NC | Australia | ||
CAP, Inc.
|
New York, NY | Delaware | ||
Carlow Holdings Trust
|
Dublin, Ireland | Ireland | ||
Carolina Investments Limited
|
London, U.K. | United Kingdom | ||
Carrara Lane Pty Limited
|
Charlotte, NC | Australia | ||
Carringgate Limited
|
London, U.K. | United Kingdom | ||
Carson Asset Management Company
|
Reno, NV | Delaware | ||
Caswell Park, Inc.
|
Charlotte, NC | Delaware | ||
Catherine III, LLC
|
New York, NY | Delaware | ||
CBT Realty Corporation
|
Providence, RI | Connecticut | ||
Central Park Development Group, LLC
|
Tampa, FL | Florida | ||
CFC International Capital Markets, Limited
|
London, U.K. | England | ||
CFC International Mauritius Limited
|
Port Louis, Mauritius | Republic of Mauritius | ||
CH MLOX Pleiades 3
|
Tokyo, Japan | Japan | ||
Charlotte Gateway Village, LLC
|
Charlotte, NC | North Carolina | ||
Charlotte Transit Center, Inc.
|
Charlotte, NC | North Carolina | ||
Cherry Park LLC
|
Charlotte, NC | Delaware | ||
Chester Property & Services Limited
|
Chester, England | England | ||
Chetwynd Nominees Limited
|
London, U.K. | England | ||
Chilton GNR Participation LLC
|
New York, NY | Delaware | ||
Chilton GNR Participation Ltd.
|
New York, NY | Cayman Islands | ||
Chilton Pan-Asia Access LLC
|
New York, NY | Delaware | ||
Chilton Pan-Asia Access Ltd.
|
New York, NY | Cayman Islands | ||
Chilton Small Cap Access LLC
|
New York, NY | Delaware | ||
Chilton Small Cap Access Ltd.
|
New York, NY | Cayman Islands | ||
CHL Transfer Corp.
|
Calabasas, CA | Delaware | ||
Church Street Housing Partners I, LLC
|
Orlando, FL | Florida | ||
Church Street Retail Partners I, LLC
|
Orlando, FL | Florida | ||
Circulos OCA S.A.
|
Montevideo, Uruguay | Uruguay | ||
Citygate Nominees Limited
|
London, U.K. | England | ||
CIVC Partners Fund, L.P.
|
Chicago, IL | Delaware | ||
CIVC Partners Fund, LLC
|
Chicago, IL | Delaware | ||
Clark Street Redevelopment Corporation
|
St. Louis, MO | Missouri | ||
CM REO S1 LLC
|
New York, NY | Delaware | ||
CNBC Leasing LLC
|
Chicago, IL | Delaware | ||
Cold Feet, L.L.C.
|
Chicago, IL | Delaware | ||
Columbus Bay Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Columbus Square II LLC
|
St. Louis, MO | Missouri |
12
Name | Location | Jurisdiction | ||
Columbus Square LLC
|
Kansas City, MO | Missouri | ||
Concert Funding Number 1 Limited
|
London, U.K. | England | ||
Concert Mortgages Holdings Limited
|
London, U.K. | England | ||
Concert Mortgages Limited
|
London, U.K. | England | ||
Continental Finanziaria S.P.A.
|
Milan, Italy | Italy | ||
Continental Illinois Venture Corporation
|
Chicago, IL | Delaware | ||
Conversus Asset Management, LLC
|
Chicago, IL | Delaware | ||
Coral Hill LLC
|
Charlotte, NC | Delaware | ||
Core Absolute Return Fund, LLC
|
New York, NY | Delaware | ||
Core Opportunistic Equity Fund, LLC
|
New York, NY | Delaware | ||
Core Private Equity Fund I, LLC
|
New York, NY | Delaware | ||
Corfe Hill Limited
|
London, U.K. | United Kingdom | ||
Corporate Leasing Facilities Limited
|
London, U.K. | England & Wales | ||
Corporate Properties Services, Inc.
|
Wilmington, DE | Delaware | ||
Cortlandt Realty Associates I, L.P.
|
New York, NY | Delaware | ||
Countryside SA Holdings, LLC
|
Dallas, TX | Texas | ||
Countrywide Alternative Asset Management Inc.
|
Calabasas, CA | Delaware | ||
Countrywide Alternative Investments Inc.
|
Calabasas, CA | Delaware | ||
Countrywide Asset Management Corp.
|
Calabasas, CA | California | ||
Countrywide Capital I
|
Calabasas, CA | Delaware | ||
Countrywide Capital II
|
Calabasas, CA | Delaware | ||
Countrywide Capital III
|
Calabasas, CA | Delaware | ||
Countrywide Capital IV
|
Calabasas, CA | Delaware | ||
Countrywide Capital V
|
Calabasas, CA | Delaware | ||
Countrywide Capital VI
|
Calabasas, CA | Delaware | ||
Countrywide Capital VII
|
Calabasas, CA | Delaware | ||
Countrywide Capital VIII
|
Calabasas, CA | Delaware | ||
Countrywide Capital IX
|
Calabasas, CA | Delaware | ||
Countrywide Capital Markets Asia (HK) Limited
|
Hong Kong, PRC | Hong Kong, PRC | ||
Countrywide Capital Markets, LLC
|
Calabasas, CA | California | ||
Countrywide Commercial JPI LLC
|
Calabasas, CA | Delaware | ||
Countrywide Commercial Mortgage Capital, Inc.
|
Calabasas, CA | Delaware | ||
Countrywide Commercial Real Estate Finance, Inc.
|
Calabasas, CA | California | ||
Countrywide Financial Corporation
|
Calabasas, CA | Delaware | ||
Countrywide Hillcrest I, Inc.
|
Calabasas, CA | California | ||
Countrywide Home Loans of Minnesota, Inc.
|
Eden Prairie, MN | Minnesota | ||
Countrywide Home Loans of Tennessee, Inc.
|
Brentwood, TN | Tennessee | ||
Countrywide Home Loans of Texas, Inc.
|
Calabasas, CA | Texas | ||
Countrywide Home Loans, Inc.
|
Calabasas, CA | New York | ||
Countrywide International Consulting Services, LLC
|
Calabasas, CA | Delaware | ||
Countrywide International GP Holdings, LLC
|
Calabasas, CA | Delaware | ||
Countrywide International Holdings, Inc.
|
Calabasas, CA | Delaware | ||
Countrywide International Technology Holdings Limited
|
St. Peter Port, Guernsey, Channel Islands | Island of Guernsey | ||
Countrywide JV Technology Holdings Limited
|
St. Peter Port, Guernsey, Channel Islands | Island of Guernsey | ||
Countrywide LFT LLC
|
Calabasas, CA | Delaware | ||
Countrywide Management Corporation
|
Calabasas, CA | Delaware | ||
Countrywide Mortgage Ventures, LLC
|
Calabasas Hills, CA | Delaware | ||
Countrywide Securities Corporation
|
Calabasas, CA | California | ||
Countrywide Servicing Exchange
|
Calabasas, CA | California | ||
Countrywide Sunfish Management LLC
|
Calabasas, CA | Delaware | ||
Countrywide Warehouse Lending
|
Calabasas, CA | California | ||
Coventry Village Apartments, Inc.
|
Nashville, TN | Tennessee | ||
CP Development Group 2, LLC
|
Tampa, FL | Florida | ||
CPDG7, LLC
|
Tampa, FL | Florida |
13
Name | Location | Jurisdiction | ||
CP Development Group 3, LLC
|
Tampa, FL | Florida | ||
CPI Ballpark Investments Ltd.
|
Port Louis, Mauritius | Mauritius | ||
Creative Village Development, LLC
|
Tampa, FL | Florida | ||
CREDO Trust
|
Hamilton, Bermuda | Bermuda | ||
Crockett Funding LLC
|
Charlotte, NC | Delaware | ||
CSC Associates, L.P.
|
Marietta, GA | Georgia | ||
CSC Futures Inc.
|
Calabasas, CA | California | ||
CSF Holdings, Inc.
|
Tampa, FL | Florida | ||
CTC Real Estate Services
|
Simi Valley, CA | California | ||
Cupples Development, L.L.C.
|
St. Louis, MO | Missouri | ||
Currency Partners LLC
|
New York, NY | Delaware | ||
Currency Partners Sub-Fund I LLC
|
New York, NY | Delaware | ||
CW Insurance Group, LLC
|
Irvine, CA | California | ||
CW Reinsurance Company
|
Burlington, VT | Vermont | ||
CW Securities Holdings, Inc.
|
Calabasas, CA | Delaware | ||
CW (UK) Services Limited
|
Dartford, United Kingdom | United Kingdom | ||
CW UKTechnology Limited
|
Dartford, United Kingdom | United Kingdom | ||
CWABS II, Inc.
|
Calabasas, CA | Delaware | ||
CWABS, Inc.
|
Calabasas, CA | Delaware | ||
CWALT, Inc.
|
Calabasas, CA | Delaware | ||
CWB Community Assets, Inc.
|
Thousand Oaks, CA | Delaware | ||
CWHEQ, Inc.
|
Calabasas, CA | Delaware | ||
CWIBH, Inc.
|
Calabasas, CA | Delaware | ||
CWMBS II, Inc.
|
Calabasas, CA | Delaware | ||
CWMBS, Inc.
|
Calabasas, CA | Delaware | ||
CWRBS, Inc.
|
Calabasas, CA | Delaware | ||
CWTechSolutions Limited
|
Dartford, United Kingdom | United Kingdom | ||
Cypress Point Trading LLC
|
Charlotte, NC | Delaware | ||
Cypress Tree CLAIF Funding LLC
|
Charlotte, NC | Delaware | ||
Dacion Corp.
|
New York, NY | New York | ||
Dartmouth Holdings Limited
|
Hong Kong, Hong Kong | Hong Kong, PRC | ||
Davidson Partners Limited
|
Toronto, Ontario, Canada | Canada | ||
Debt Clear Recoveries & Investigations Limited
|
Manchester, United Kingdom | United Kingdom | ||
Destination Hotels International Co., Ltd.
|
Hong Kong, Hong Kong | Thailand | ||
Destination Hotels International Ltd.
|
Bangkok, Thailand | Virgin Islands | ||
Destination Properties (Cha-Am) Co., Ltd.
|
Bangkok, Thailand | Thailand | ||
Destination Properties (Eastern Seaboard) Co., Ltd.
|
Bangkok, Thailand | Thailand | ||
DFO Partnership
|
San Francisco, CA | New York | ||
Diamond Springs Trading LLC
|
Charlotte, NC | Delaware | ||
Diversified Alpha Fund, L.P.
|
New York, NY | Delaware | ||
Diversified Alpha Fund (Master), Ltd.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Diversified Global Futures Fund LLC
|
New York, NY | Delaware | ||
Diversified Global Markets Fund Ltd.
|
New York, NY | Cayman Islands | ||
Dollis Hill Limited
|
London, U.K. | United Kingdom | ||
Dorton B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Dover Mortgage Capital 2005-A Corporation
|
Charlotte, NC | Delaware | ||
Dover Mortgage Capital Corporation
|
Charlotte, NC | Delaware | ||
Dover Two Mortgage Capital 2005-A Corporation
|
Charlotte, NC | Delaware | ||
Dover Two Mortgage Capital Corporation
|
Charlotte, NC | Delaware | ||
Dresdner Kleinwort Pfandbriefe Investments, Inc.
|
Charlotte, NC | Delaware | ||
DSP Merrill Lynch Capital Limited
|
Mumbai, India | India | ||
DSP Merrill Lynch Limited
|
Mumbai, India | India | ||
DSP Merrill Lynch Trust Services Limited
|
Mumbai, India | India | ||
Eagle Corporation, The
|
Boston, MA | Massachusetts |
14
Name | Location | Jurisdiction | ||
Eagle Investments S.A., The
|
Montevideo, Uruguay | Uruguay | ||
Eaglewood Apartments, LLC
|
Tampa, FL | Florida | ||
Eaglewood Course Development, LLC
|
Tampa, FL | Florida | ||
Eban Incorporated
|
Dallas, TX | Texas | ||
Eban Village I, Ltd.
|
Dallas, TX | Texas | ||
Eban Village II, Ltd.
|
Dallas, TX | Texas | ||
Echo Canyon Park LLC
|
Charlotte, NC | Delaware | ||
Edificaciones Arendonk, S.L.
|
Madrid, Spain | Spain | ||
Edward IV, LLC
|
New York, NY | Delaware | ||
EFP (Cayman) Funding I Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
EFP (Cayman) Funding II Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
EFP (Hong Kong) Funding I Limited
|
Hong Kong, SAR | Hong Kong, PRC | ||
EFP (Hong Kong) Funding II Partnership
|
Hong Kong, SAR | Hong Kong, PRC | ||
EFP Netherlands Investment II, V.O.F.
|
Amsterdam, The Netherlands | Netherlands | ||
EFP Netherlands Investment, B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Egan Crest Investments, LLC
|
Charlotte, NC | Delaware | ||
EGB Podstawowy Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny
|
Warsaw, Poland | Poland | ||
EGB-Skarbiec Bis Powizany Fundusz Inwestycyjny Zamknity
|
Warsaw, Poland | Poland | ||
EGB-Skarbiec Powizany Fundusz Inwestycyjny Zamknity
|
Warsaw, Poland | Poland | ||
Electra Leasing LLC
|
Boston, MA | Massachusetts | ||
ELHV Inc.
|
New York, NY | Delaware | ||
Elizabeth VI, LLC
|
New York, NY | Delaware | ||
Elmfield Investments Limited
|
London, U.K. | United Kingdom | ||
ELT Ltd.
|
Charlotte, NC | Delaware | ||
EM Cobranza S de RL de CV
|
New York, NY | Mexico | ||
EM Structured Investments, LLC
|
New York, NY | Delaware | ||
Emerging Markets Opportunities LLC
|
Boston, MA | Delaware | ||
Emerging Markets Opportunities Ltd.
|
Boston, MA | Cayman Islands | ||
Emerging Markets Opportunities Master, Ltd.
|
Boston, MA | Cayman Islands | ||
EQCC Asset Backed Corporation
|
Las Vegas, NV | Delaware | ||
EQCC Receivables Corporation
|
Las Vegas, NV | Delaware | ||
EquiCredit Corporation of America
|
Jacksonville, FL | Delaware | ||
Equipart Pty Limited
|
Victoria, Australia | Australia | ||
Equity Analytics, LLC
|
Scottsdale, AZ | Delaware | ||
Equity Finance Delaware, LLC
|
New York, NY | Delaware | ||
Equity Long Short HedgeAccess LLC
|
New York, NY | Delaware | ||
Equity Long Short HedgeAccess II, LLC
|
New York, NY | Delaware | ||
Equity Long-Short HedgeAccess Ltd.
|
New York, NY | Cayman Islands | ||
Equity Margins Ltd.
|
Melbourne, Victoria, Australia | Australia | ||
Equity Margins Nominees Limited
|
Melbourne, Victoria, Australia | Australia | ||
Equity/Protect Reinsurance Company
|
Jacksonville, FL | Turks & Caicos Islands | ||
Europe Card Services General Partner Limited
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Europe Card Services Partners (Scotland) LP
|
Edinburgh, Scotland | Scotland | ||
Event Driven & Credit HedgeAccess LLC
|
New York, NY | Delaware | ||
Event-Driven & Credit HedgeAccess II LLC
|
New York, NY | Delaware | ||
Event Driven & Credit HedgeAccess Ltd.
|
New York, NY | Cayman Islands | ||
Everest Funding LLC
|
Charlotte, NC | Delaware | ||
Excelsior Buyout Management, LLC
|
Stamford, CT | Delaware | ||
Excelsior Buyout Partners, LLC
|
Stamford, CT | Delaware | ||
F. R. Holdings, Inc.
|
Charlotte, NC | Nevada | ||
Fairfield Nominees Ltd.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Fallon Lane LLC
|
Charlotte, NC | Delaware | ||
FBF Insurance Agency, Inc.
|
Avon, MA | Massachusetts |
15
Name | Location | Jurisdiction | ||
FCA Company, LLC
|
Providence, RI | Rhode Island | ||
FDS Financial Data Services Limited
|
Dublin, Ireland | Ireland | ||
Federal Street Investments S.A.
|
Montevideo, Uruguay | Uruguay | ||
Federal Street Shipping LLC
|
Boston, MA | Delaware | ||
Fernhill Holding, Inc.
|
San Francisco, CA | California | ||
Ferrybridge Investments Limited
|
London, U.K. | England | ||
FFG Property Holding Corp.
|
Providence, RI | Rhode Island | ||
FHA Company, LLC
|
Providence, RI | Rhode Island | ||
FIA (Gibraltar) Holdings Limited
|
Gibraltar, Gibraltar | Gibraltar | ||
FIA (Gibraltar) SLP Holdings Limited
|
Gibraltar, Gibraltar | Gibraltar | ||
FIA Card Services, National Association
|
Wilmington, DE | United States of America | ||
FIA Holdings S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
FIA Holdings, LP
|
Edinburgh, Scotland | Scotland | ||
FIA Swiss Funding Limited
|
Luxembourg, Luxembourg | England & Wales | ||
Fiduciary Services Ltd.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Fiduciary Services (UK) Limited
|
London, U.K. | England | ||
FIM Funding, Inc.
|
Boston, MA | Massachusetts | ||
Financial Data Services, Inc.
|
Jacksonville, FL | Florida | ||
Finsbury Square Limited Partnership
|
Washington, DC | District of Columbia | ||
Finsbury Square Manager LLC
|
Washington, DC | District of Columbia | ||
First 165 Properties Corp.
|
New York, NY | Delaware | ||
First Bank of Pinellas County Land Corporation
|
Tampa, FL | Florida | ||
First Capital Corporation of Boston
|
Boston, MA | Massachusetts | ||
First Franklin Financial Corporation
|
San Jose, CA | Delaware | ||
First Permanent Financial Services Pty Ltd
|
Sydney, Australia | Australia | ||
First Permanent Securities Limited
|
Sydney, Australia | Australia | ||
First Permanent Securities Mortgage Warehouse Trust 2000-1
|
Sydney, Australia | Australia | ||
First Permanent Super Prime RMBS Trust 2006-1
|
Sydney, Australia | Australia | ||
Firstval Properties, Inc.
|
Bethlehem, PA | Pennsylvania | ||
Five Dollars a Day, LLC
|
San Francisco, CA | Delaware | ||
Fleet Capital Trust II
|
Boston, MA | Delaware | ||
Fleet Capital Trust IX
|
Boston, MA | Delaware | ||
Fleet Capital Trust V
|
Boston, MA | Delaware | ||
Fleet Capital Trust VII
|
Boston, MA | Delaware | ||
Fleet Capital Trust VIII
|
Boston, MA | Delaware | ||
Fleet Center Associates
|
Providence, RI | Rhode Island | ||
Fleet Community Development Corporation
|
Providence, RI | Rhode Island | ||
Fleet Credit Card Holdings, Inc.
|
Providence, RI | Delaware | ||
Fleet Credit Card Services L.P.
|
Providence, RI | Rhode Island | ||
Fleet Development Ventures L.L.C.
|
Boston, MA | Massachusetts | ||
Fleet Equity Partners V, L.P.
|
Providence, RI | Delaware | ||
Fleet Equity Partners VI, L.P.
|
Providence, RI | Delaware | ||
Fleet Equity Partners VII, L.P.
|
Providence, RI | Delaware | ||
Fleet Finance, Inc.
|
Providence, RI | Delaware | ||
Fleet Financial Corporation
|
Providence, RI | Rhode Island | ||
Fleet Fund Investors, LLC
|
Providence, RI | Delaware | ||
Fleet Growth Resources II, Inc.
|
Providence, RI | Delaware | ||
Fleet Growth Resources III, Inc.
|
Providence, RI | Rhode Island | ||
Fleet Growth Resources IV, Inc.
|
Providence, RI | Rhode Island | ||
Fleet Growth Resources, Inc.
|
Charlotte, NC | Delaware | ||
Fleet Historic Associates
|
Providence, RI | Rhode Island | ||
Fleet Home Equity Loan Trust 2001-1
|
Wilmington, DE | Delaware | ||
Fleet Home Equity Loan, LLC
|
Boston, MA | Delaware | ||
Fleet Insurance Agency (NJ), Inc.
|
Clinton, NJ | New Jersey |
16
Name | Location | Jurisdiction | ||
Fleet Insurance Agency Corp. Connecticut
|
Chester, CT | Connecticut | ||
Fleet Insurance Agency Corp. New York
|
Castleton on Hudson, NY | New York | ||
Fleet Insurance Agency Corporation
|
Boston, MA | Massachusetts | ||
Fleet International Advisors S.A.
|
Montevideo, Uruguay | Uruguay | ||
Fleet Land Company
|
Providence, RI | Rhode Island | ||
Fleet NJ Community Development Corp.
|
Hartford, CT | New Jersey | ||
Fleet Overseas Asset Management, Inc.
|
Boston, MA | Delaware | ||
Fleet Pennsylvania Services Inc.
|
Scranton, PA | Delaware | ||
Fleet Property Company
|
Providence, RI | Rhode Island | ||
Fleet Retail Group, LLC
|
Boston, MA | Delaware | ||
Fleet Venture Partners I
|
Providence, RI | Delaware | ||
Fleet Venture Partners III
|
Providence, RI | Delaware | ||
Fleet Venture Resources, Inc.
|
Providence, RI | Rhode Island | ||
FleetBoston Co-Investment Partners (2000) LP
|
Boston, MA | Delaware | ||
FleetBoston Co-Investment Partners (2001) LP
|
Boston, MA | Delaware | ||
Foxwood (FP) Limited
|
London, U.K. | Cayman Islands | ||
Framework, Inc.
|
Washington, DC | Delaware | ||
FRB Acceptance LLC
|
San Francisco, CA | Delaware | ||
FSC Corp.
|
Boston, MA | Massachusetts | ||
Fugu Credit Limited
|
London, U.K. | United Kingdom | ||
Fund Asset Management, L.P.
|
New York, NY | Delaware | ||
Fund Five Financial, Inc.
|
San Francisco, CA | California | ||
Fundo de Investimento em Direito Creditorio Nao Padronizado Tratex Precatorios II
|
Sao Paulo, Brazil | Brazil | ||
Fundo de Investimento em Direitos Creditorios Nao Padronizados Tratex Precatorio III
|
Sao Paulo, Brazil | Brazil | ||
Fundo de Investimento em Direito Creditorio PCG Brasil Multi Carteira
|
Sao Paulo, Brazil | Brazil | ||
Fundo de Investimento Financeiro Multimercado Agata
|
Sao Paulo, Brazil | Brazil | ||
Fundo de Investimento Financeiro Multimercado Diamond
|
Sao Paulo, Brazil | Brazil | ||
Fundo de Investimento Financeiro Multimercado Iceberg
|
Sao Paulo, Brazil | Brazil | ||
Fundo de Investimento Financeiro Multimercado Verona
|
Sao Paulo, Brazil | Brazil | ||
GALCO B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Galway Holdings Trust
|
Dublin, Ireland | Ireland | ||
Garden Property LLC
|
Pennington, NJ | Delaware | ||
Gatwick LLC
|
Charlotte, NC | Delaware | ||
GBP Funding 2007-A Limited
|
London, U.K. | Cayman Islands | ||
GEM 21 s.r.l.
|
Milan, Italy | Italy | ||
General Fidelity Life Insurance Company
|
Columbia, SC | South Carolina | ||
Germantown-Seneca Joint Venture
|
Baltimore, MD | Maryland | ||
Germany Telecommunications 1 S.a.r.L
|
Luxembourg, Luxembourg | Luxembourg | ||
GHL Mortgage Originations Limited
|
Dartford, United Kingdom | England | ||
GHL Mortgage Services Limited
|
Dartford, United Kingdom | England | ||
GHL Payment Transmission Limited
|
Dartford, United Kingdom | United Kingdom | ||
GHL Services Limited
|
Dartford, United Kingdom | United Kingdom | ||
Giants ABS Co., Ltd.
|
Seoul, Korea | Korea | ||
GK Ad astra
|
Tokyo, Japan | Japan | ||
GK Carpe Diem
|
Tokyo, Japan | Japan | ||
GK Nagareyama
|
Tokyo, Japan | Japan | ||
GK Per Aspera
|
Tokyo, Japan | Japan | ||
GK Satsuma
|
Tokyo, Japan | Japan | ||
Gleneagles Trading LLC
|
Charlotte, NC | Delaware | ||
Glenwood Investments Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Global Home Loans Limited
|
Dartford, United Kingdom | England | ||
Global Macro HedgeAccess LLC
|
New York, NY | Delaware | ||
Global Macro HedgeAccess Ltd.
|
New York, NY | Cayman Islands |
17
Name | Location | Jurisdiction | ||
Global Principal Finance Company, LLC
|
New York, NY | Delaware | ||
Global Structured Finance & Investments LLC
|
New York, NY | Delaware | ||
GlobaLoans International Technology Limited Partnership
|
Dartford, United Kingdom | England | ||
GlobaLoans JV Limited Partnership
|
Dartford, United Kingdom | England | ||
GMI Investments, Inc.
|
New York, NY | Delaware | ||
GMI Strategic Investments, LLC
|
New York, NY | Delaware | ||
Gold Magnet (BVI) Limited
|
Tortola, British Virgin Islands | Virgin Islands | ||
Goldbourne Park Limited
|
Dublin, Ireland | Jersey | ||
Golden Peak Investments LLC
|
Charlotte, NC | Delaware | ||
Good Neighbor Labuan Holdings Ltd.
|
Labuan, Malaysia | Malaysia | ||
GPC Securities, Inc.
|
Atlanta, GA | Georgia | ||
GPFC Ireland Limited
|
Dublin, Ireland | Ireland | ||
Green Equity Inc.
|
New York, NY | New Jersey | ||
Greenwood Apartments, LLC
|
Tampa, FL | Florida | ||
Groom Lake, LLC
|
Charlotte, NC | Delaware | ||
GTVBI, Inc.
|
Port Louis, Mauritius | Mauritius | ||
Hachiko, LLC
|
San Francisco, CA | Delaware | ||
Halcyon Access LLC
|
New York, NY | Delaware | ||
Halcyon Access II LLC
|
New York, NY | Delaware | ||
Halcyon Access III LLC
|
New York, NY | Delaware | ||
Halcyon Access LTD.
|
New York, NY | Cayman Islands | ||
Hampton Funding LLC
|
Charlotte, NC | Delaware | ||
Hannibal Associates, L.P.
|
New York, NY | Delaware | ||
Hannibal Properties Corp.
|
New York, NY | Delaware | ||
Hanover Holdings Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Harbour Town Funding LLC
|
Charlotte, NC | Delaware | ||
Harney Lane Limited
|
Dublin, Ireland | Ireland | ||
Harper Farm M Corp.
|
Baltimore, MD | Maryland | ||
HCL Acquisition LLC
|
Boston, MA | Massachusetts | ||
HCL Developer LLC
|
Boston, MA | Massachusetts | ||
HCL Manager LLC
|
Boston, MA | Massachusetts | ||
HealthLogic Systems Corporation
|
Norcross, GA | Georgia | ||
Heathrow LLC
|
Charlotte, NC | Delaware | ||
Henry II, LLC
|
New York, NY | Delaware | ||
Hever Hill Limited
|
London, U.K. | United Kingdom | ||
High Grade Structured Credit CDO 2007-1
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Hilltop Energy Investment Corp. II
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Hilltop Proprietary Investment, LLC
|
Houston, TX | Delaware | ||
HLTV Securitization Corporation
|
Calabasas, CA | Delaware | ||
HNC Realty Company
|
Hartford, CT | Connecticut | ||
Holding Services Ltd.
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Home Equity USA, Inc.
|
Providence, RI | Rhode Island | ||
HomeFocus Tax Services, LLC
|
Richmond, VA | Virginia | ||
Hornby Lane Limited
|
Dublin, Ireland | Jersey | ||
Hospitality & Leisure Fondo comune di investimento immobiilare speculativo di tip chiuso
|
Milan, Italy | Italy | ||
Howlan Park Limited
|
Dublin, Ireland | Ireland | ||
HQ North Company Inc.
|
New York, NY | New York | ||
IBK Holdings International Principal Investments, Ltd.
|
New York, NY | Cayman Islands | ||
IBK Holdings Principal Investments, LLC
|
New York, NY | Delaware | ||
IBK International Principal Investments, Ltd.
|
New York, NY | Cayman Islands | ||
IFIA Insurance Services, Inc.
|
Greenville, DE | Delaware | ||
IHR, LLC
|
San Francisco, CA | Delaware | ||
InCapital Europe Limited
|
London, U.K. | United Kingdom |
18
Name | Location | Jurisdiction | ||
Incapital Holdings, LLC
|
Chicago, IL | Illinois | ||
InCapital, LLC
|
Chicago, IL | Illinois | ||
Independence One Life Insurance Company
|
Phoenix, AZ | Arizona | ||
Indian Head Banks Inc.
|
Charlotte, NC | New Hampshire | ||
Indopark (Cayman) Limited
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Indopark Holdings Limited
|
Port Louis, Mauritius | Mauritius | ||
Industrial Investment Corporation
|
Baltimore, MD | Rhode Island | ||
Institucion Financiera Externa Merrill Lynch Bank Uruguay S.A.
|
Montevideo, Uruguay | Uruguay | ||
International Special Situations Holdings C.V.
|
George Town, Grand Cayman, Cayman Is. | Netherlands | ||
Inversiones Merrill Lynch Chile II Limitada
|
Santiago, Chile | Chile | ||
Inversiones Merrill Lynch Chile Limitada
|
Santiago, Chile | Chile | ||
Investment Fund Partners
|
Providence, RI | Delaware | ||
Investments 2234 Chile Fondo de Inversion Privado I
|
Santiago, Chile | Chile | ||
Investments 2234 Chile Fondo de Inversion Privado II
|
Santiago, Chile | Chile | ||
Investments 2234 China Fund 1 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234, LLC
|
Charlotte, NC | Delaware | ||
Investments 2234 Overseas Fund 11 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund 12 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund 13 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund 14 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund 15 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund 16 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund 17 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund 18 B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund I B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund II B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund III B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund IV B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund IX B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund V B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund VI B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund VII B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund VIII B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Fund X B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Overseas Holdings B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Investments 2234 Philippines Fund I (SPV-AMC), Inc.
|
Manila, Philippines | Philippines | ||
Investments Dos Dos Tres Cuatro Chile Holdings S.A.
|
Santiago, Chile | Chile | ||
Investor Protection Insurance Company
|
Burlington, VT | Vermont | ||
IQ Absolute Return Diversified Fund, LP
|
New York, NY | Delaware | ||
IQ Absolute Return Select Fund, LP
|
New York, NY | Delaware | ||
IQ Financial Products LLC
|
New York, NY | Delaware | ||
IQ Global Long/Short Equity Diversified Fund, LP
|
New York, NY | Delaware | ||
IQ Global Long/Short Equity Diversified (Offshore) Fund, Ltd.
|
New York, NY | Cayman Islands | ||
IQ Global Long/Short Equity Select Fund, LP
|
New York, NY | Delaware | ||
IQ Global Long/Short Equity Select (Offshore) Fund, Ltd.
|
New York, NY | Cayman Islands | ||
IQ Global Private Equity Composite Fund, LP
|
New York, NY | Delaware | ||
IQ Global Real Asset Composite Fund, LP
|
New York, NY | Delaware | ||
IQ Investment Advisors LLC
|
New York, NY | Delaware | ||
Ironwood (FP) Limited
|
London, U.K. | Cayman Islands | ||
Isabella I, LLC
|
New York, NY | Delaware | ||
Ismael I, Inc.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Ivy Rising Stars Access Ltd.
|
New York, NY | Cayman Islands | ||
James I, LLC
|
New York, NY | Delaware | ||
JCCA, Inc.
|
Wilton, CT | Delaware |
19
Name | Location | Jurisdiction | ||
Jin Sheng Asset Management Company Limited
|
Taipei, Taiwan | Taiwan | ||
Jupiter Loan Funding LLC
|
Charlotte, NC | Delaware | ||
Kaldi Funding LLC
|
Charlotte, NC | Delaware | ||
Kauai Hotel, L.P.
|
Los Angeles, CA | Delaware | ||
KBA Mortgage, LLC
|
Plano, TX | Delaware | ||
KECALP Inc.
|
New York, NY | Delaware | ||
KECALP International Ltd.
|
New York, NY | Cayman Islands | ||
KML Holdings Co., Ltd.
|
Labuan, Malaysia | Malaysia | ||
KML II Holdings Co., Ltd.
|
Labuan, Malaysia | Malaysia | ||
Korea Ranger Limited
|
Seoul, Korea | Korea | ||
L.A. Funding LLC
|
Charlotte, NC | Delaware | ||
Laguna Funding LLC
|
Charlotte, NC | Delaware | ||
Lake Forest Holding Company
|
Baltimore, MD | Virginia | ||
Landmark Value Access LLC
|
New York, NY | Delaware | ||
Landmark Value Access, Ltd.
|
New York, NY | Cayman Islands | ||
LandSafe Appraisal Services, Inc.
|
Plano, TX | California | ||
LandSafe Credit, Inc.
|
Rosemead, CA | California | ||
LandSafe Default, Inc.
|
Rosemead, CA | Pennsylvania | ||
LandSafe Flood Determination, Inc.
|
Plano, TX | California | ||
LandSafe, Inc.
|
Plano, TX | Delaware | ||
LandSafe Services of Alabama, Inc.
|
Montgomery, AL | Alabama | ||
LandSafe Services, LLC
|
St. Louis, MO | Missouri | ||
LandSafe Title of California, Inc.
|
Rosemead, CA | California | ||
LandSafe Title of Florida, Inc.
|
Rosemead, CA | Florida | ||
LandSafe Title of Texas, Inc.
|
Rosemead, CA | Texas | ||
LandSafe Title of Washington, Inc.
|
Simi Valley, CA | Washington | ||
Laredo Park Holdings, Inc.
|
Charlotte, NC | Delaware | ||
LaSalle Community Development Corporation
|
Chicago, IL | Illinois | ||
LaSalle Funding LLC
|
Chicago, IL | Delaware | ||
LaSalle Street Capital, Inc.
|
Chicago, IL | Delaware | ||
LaSalle Trade Services Corporation
|
Chicago, IL | Illinois | ||
Lat-Am Bridge Holdco LLC
|
New York, NY | Delaware | ||
Latin America Real Estate Holdings, LLC
|
New York, NY | Delaware | ||
LBC Limited
|
Nassau, Bahamas | Bahamas | ||
Leaves, LLC
|
San Francisco, CA | Delaware | ||
Lexington Trails Holdings, LP
|
Dallas, TX | Texas | ||
Leyden Bay B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Limacon Park Limited
|
Dublin, Ireland | Ireland | ||
Links at Eastwood LLC, The
|
Charlotte, NC | North Carolina | ||
Linville Funding LLC
|
Charlotte, NC | Delaware | ||
Live Oak Apartments, LLC
|
Charlotte, NC | North Carolina | ||
Loans.co.uk Limited
|
Watford, Hertfordshire, U.K. | United Kingdom | ||
LS Real Estate Recovery Fund (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
LS Real Estate Recovery Trust
|
New York, NY | Delaware | ||
Lynx Associates, L.P.
|
New York, NY | Delaware | ||
Lynx Properties Corp.
|
New York, NY | Delaware | ||
Magellan Bay Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Main Place Funding, LLC
|
New York, NY | Delaware | ||
Mainsearch Company Limited
|
Chester, England | England | ||
Majestic Acquisitions Limited
|
London, U.K. | England | ||
Malbec II, LLC
|
New York, NY | Delaware | ||
Managed Account Advisors LLC
|
Jersey City, NJ | Delaware | ||
Manele Bay II Limited
|
Amsterdam, The Netherlands | Jersey | ||
Marathon Access LLC
|
New York, NY | Delaware | ||
Marathon Access Ltd.
|
New York, NY | Cayman Islands |
20
Name | Location | Jurisdiction | ||
Mariner Access LLC
|
New York, NY | Delaware | ||
Mariner 2X Access LLC
|
New York, NY | Delaware | ||
Mariner 2X Access II, LLC
|
New York, NY | Delaware | ||
Mariner Access, Ltd.
|
New York, NY | Cayman Islands | ||
Marlborough Sounds LLC
|
Charlotte, NC | Delaware | ||
Marlin House Holdings Limited
|
Watford, Hertfordshire, U.K. | United Kingdom | ||
Mars 1, LLC
|
New York, NY | Delaware | ||
Martin Currie Asia Access, LLC
|
New York, NY | Delaware | ||
Martin Currie Asia Access, Ltd.
|
New York, NY | Cayman Islands | ||
Martin Currie European Access, LLC
|
New York, NY | Delaware | ||
Martin Currie European Access, Ltd.
|
New York, NY | Cayman Islands | ||
Maryvale Urban Investments, Inc.
|
Phoenix, AZ | Arizona | ||
MBNA Canada Bank
|
Gloucester, Canada | Canada | ||
MBNA Capital A
|
Wilmington, DE | Delaware | ||
MBNA Capital B
|
Wilmington, DE | Delaware | ||
MBNA Capital C
|
Wilmington, DE | Delaware | ||
MBNA Capital D
|
Wilmington, DE | Delaware | ||
MBNA Capital E
|
Wilmington, DE | Delaware | ||
MBNA Community Development Corporation
|
Wilmington, DE | Delaware | ||
MBNA Direct Limited
|
Chester, England | England | ||
MBNA Europe Bank Limited
|
Chester, England | United Kingdom | ||
MBNA Europe Finance Limited
|
Chester, England | Guernsey | ||
MBNA Europe Funding, PLC
|
Chester, England | United Kingdom | ||
MBNA Europe Holdings Limited
|
Chester, England | United Kingdom | ||
MBNA Funding Company Limited
|
Chester, England | England & Wales | ||
MBNA Global Services Limited
|
Chester, England | United Kingdom | ||
MBNA Indian Services Private Limited
|
Bangalore, India | India | ||
MBNA International Properties Limited
|
Chester, England | England | ||
MBNA Investment & Securities Limited
|
Chester, England | United Kingdom | ||
MBNA Ireland Limited
|
Carrick-on-Shannon, Ireland | Ireland | ||
MBNA Luxembourg Holdings S.a.r.l.
|
Grand Duchy of Luxembourg, Luxembourg | Luxembourg | ||
MBNA Marketing Systems, Inc.
|
Wilmington, DE | Delaware | ||
MBNA Property Services Limited
|
Chester, England | England | ||
MBNA R & L S.a.r.l.
|
Kirschberg, Luxembourg | Luxembourg | ||
MBNA Receivables Limited
|
Chester, England | Jersey | ||
MBNA Scotland LP
|
Edinburgh, Scotland | England & Wales | ||
MBNA Technology, Inc.
|
Wilmington, DE | Delaware | ||
Mecklenburg Park, Inc.
|
Charlotte, NC | Delaware | ||
Mediterranean Funding LLC
|
Charlotte, NC | Delaware | ||
Mei Tou (Tianjin) Property Holdings Limited
|
Peoples Republic of China | China | ||
Mei Tou Holdings Limited
|
Port Louis, Mauritius | Mauritius | ||
Mei Ya (Tianjin) Property Holdings Limited
|
Peoples Republic of China | China | ||
Menkent Sarl
|
Luxembourg, Luxembourg | Luxembourg | ||
Mercury 1, LLC
|
New York, NY | Delaware | ||
Meritplan Insurance Company
|
Irvine, CA | California | ||
Merlot III, LLC
|
New York, NY | Delaware | ||
Merrill Invest (Australia) Limited
|
Sydney, Australia | Australia | ||
Merrill Lynch 2008 Fortress Partners Fund, LLC
|
New York, NY | Delaware | ||
Merrill Lynch 2008 Fortress Partners Offshore Fund, LP
|
New York, NY | Cayman Islands | ||
Merrill Lynch Alternative Investments LLC
|
New York, NY | Delaware | ||
Merrill Lynch Aquisicoes e Participacoes Brasil Ltda
|
Sao Paulo, Brazil | Brazil | ||
Merrill Lynch Argentina S.A.
|
Capital Federal, Argentina | Argentina | ||
Merrill Lynch Asia Investments Limited
|
Port Louis, Mauritius | Mauritius | ||
Merrill Lynch (Asia Pacific) Limited
|
Hong Kong, PRC | Hong Kong, PRC |
21
Name | Location | Jurisdiction | ||
Merrill Lynch Asian Real Estate Fund Manager Pte. Ltd.
|
Singapore, Singapore | Singapore | ||
Merrill Lynch Asian Real Estate Opportunity Fund II, L.P.
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Merrill Lynch Asian Real Estate Opportunity Fund II Pte. Ltd.
|
Singapore, Singapore | Singapore | ||
Merrill Lynch (Australasia) Pty. Ltd.
|
Sydney, Australia | Australia | ||
Merrill Lynch (Australia) Funding (No. 1) Pty Limited
|
Melbourne, Victoria, Australia | Australia | ||
Merrill Lynch (Australia) Futures Limited
|
Sydney, Australia | Australia | ||
Merrill Lynch (Australia) Nominees Pty. Limited
|
Melbourne, Victoria, Australia | Australia | ||
Merrill Lynch (Australia) Pty Ltd
|
Sydney, Australia | Australia | ||
Merrill Lynch (B.V.I.) Limited
|
Tortola, British Virgin Islands | Virgin Islands | ||
Merrill Lynch Bank (Suisse) S.A.
|
Geneva, Switzerland | Switzerland | ||
Merrill Lynch Bank and Trust Company (Cayman) Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Merrill Lynch Benchmark Holdings LLC
|
New York, NY | Delaware | ||
Merrill Lynch Benefits Ltd.
|
Toronto, Canada | Canada | ||
Merrill Lynch (Bermuda) Services Limited
|
Hamilton, Bermuda | Bermuda | ||
Merrill Lynch (Camberley) Limited
|
London, U.K. | England | ||
Merrill Lynch Canada Credit Inc.
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Canada Holdings Company
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Canada Inc.
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Canada Services Inc.
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Capital Canada Inc.
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Capital Corporation
|
New York, NY | Delaware | ||
Merrill Lynch Capital Markets AG
|
Zurich, Switzerland | Switzerland | ||
Merrill Lynch Capital Markets Espana, S.A., S.V.
|
Madrid, Spain | Spain | ||
Merrill Lynch Capital Markets (France) SAS
|
Paris, France | France | ||
Merrill Lynch Capital Markets (Taiwan) Limited
|
Taipei, Taiwan | Taiwan | ||
Merrill Lynch Capital Partners, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Capital Services, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Chile Holdings 1 LLC
|
New York, NY | Delaware | ||
Merrill Lynch Chile Holdings 2 LLC
|
New York, NY | Delaware | ||
Merrill Lynch Chile S.A.
|
Santiago, Chile | Chile | ||
Merrill Lynch CIS Limited
|
London, U.K. | England | ||
Merrill Lynch & Co., Canada Ltd.
|
Toronto, Canada | Canada | ||
Merrill Lynch & Co., Inc.
|
Charlotte, NC | Delaware | ||
Merrill Lynch Colombia Ltda.
|
Bogota, Colombia | Colombia | ||
Merrill Lynch Commodities (Europe) Holdings Limited
|
London, U.K. | England | ||
Merrill Lynch Commodities (Europe) Limited
|
London, U.K. | England | ||
Merrill Lynch Commodities (Europe) Trading Limited
|
London, U.K. | England | ||
Merrill Lynch Commodities Canada, ULC
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Commodities GmbH
|
London, U.K. | Germany | ||
Merrill Lynch Commodities Ltd Belgrade
|
Belgrade, Serbia | Serbia and Montenegro | ||
Merrill Lynch Commodities Luxembourg S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch Commodities S.r.l.
|
Bucharest, Romania | Romania | ||
Merrill Lynch Commodities, Inc.
|
Houston, TX | Delaware | ||
Merrill Lynch Commodity Financing Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Commodity Partners, L.P.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Merrill Lynch Community Development Company, LLC
|
New York, NY | New Jersey | ||
Merrill Lynch Consulting Services (Beijing) Company Limited
|
Beijing, Peoples Republic of China | China | ||
Merrill Lynch Corporate (New Zealand) Limited
|
Geneva, Switzerland | New Zealand | ||
Merrill Lynch Corporate Services Limited
|
London, U.K. | England | ||
Merrill Lynch Corredores de Bolsa S.A.
|
Santiago, Chile | Chile | ||
Merrill Lynch Credit Corporation
|
Jacksonville, FL | Delaware | ||
Merrill Lynch Credit Products, LLC
|
New York, NY | Delaware |
22
Name | Location | Jurisdiction | ||
Merrill Lynch Credit Reinsurance Limited
|
Hamilton, Bermuda | Bermuda | ||
Merrill Lynch Defease HoldCo, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Depositor, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Derivative Products AG
|
Zurich, Switzerland | Switzerland | ||
Merrill Lynch Diversified Investments, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Diversified Opportunity Fund LLC
|
New York, NY | Delaware | ||
Merrill Lynch Equities (Australia) Limited
|
Sydney, Australia | Australia | ||
Merrill Lynch Equities Limited
|
London, U.K. | England | ||
Merrill Lynch Equity S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch Espanola Agencia de Valores S.A.
|
Madrid, Spain | Spain | ||
Merrill Lynch Europe Funding
|
London, U.K. | England | ||
Merrill Lynch Europe Intermediate Holdings
|
London, U.K. | England | ||
Merrill Lynch Europe Liquidity Company Limited
|
London, U.K. | England | ||
Merrill Lynch Europe Limited
|
London, U.K. | England | ||
Merrill Lynch Europe Ltd.
|
New York, NY | Cayman Islands | ||
Merrill Lynch Europe S.A.
|
New York, NY | Panama | ||
Merrill Lynch European Asset Holdings Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Far East Limited
|
Hong Kong, PRC | Hong Kong, PRC | ||
Merrill Lynch Fiduciary Services, Inc.
|
Pennington, NJ | New York | ||
Merrill Lynch Finance (Australia) Pty Limited
|
Sydney, Australia | Australia | ||
Merrill Lynch Financial Assets Inc.
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Financial Markets, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Financial Services Limited
|
Dublin, Ireland | Ireland | ||
Merrill Lynch Fortress Partners Fund LLC
|
New York, NY | Delaware | ||
Merrill Lynch Fortress Partners Offshore Fund, LP
|
New York, NY | Cayman Islands | ||
Merrill Lynch France SAS
|
Paris, France | France | ||
Merrill Lynch Fund Investors Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Funding Corporation
|
New York, NY | California | ||
Merrill Lynch Futures (Hong Kong) Limited
|
Hong Kong, PRC | Hong Kong, PRC | ||
Merrill Lynch GENCO II, LLC
|
New York, NY | Delaware | ||
Merrill Lynch GENCO, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Gestion, S.G.I.I.C., S.A.
|
Madrid, Spain | Spain | ||
Merrill Lynch Gilts Holdings Limited
|
London, U.K. | England | ||
Merrill Lynch Gilts Investments Limited
|
London, U.K. | England | ||
Merrill Lynch Gilts (Nominees) Limited
|
London, U.K. | England | ||
Merrill Lynch Global Asset Management Limited
|
London, U.K. | England | ||
Merrill Lynch Global Capital, L.L.C.
|
New York, NY | Delaware | ||
Merrill Lynch Global Emerging Markets Partners II, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Global Emerging Markets Partners, L.P.
|
New York, NY | Delaware | ||
Merrill Lynch Global Emerging Markets Partners, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Global Private Equity (Asia) Ltd.
|
Hong Kong, PRC | Hong Kong, PRC | ||
Merrill Lynch Global Private Equity (Australia) Pty Limited
|
Sydney, Australia | Australia | ||
Merrill Lynch Global Private Equity, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Global Real Estate Opportunity Fund, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Global Services Pte. Ltd.
|
Singapore, Singapore | Singapore | ||
Merrill Lynch Government Securities Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Government Securities of Puerto Rico, Inc.
|
New York, NY | Puerto Rico | ||
Merrill Lynch GP Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Group Financing, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Group Holdings I, L.L.C.
|
New York, NY | Delaware | ||
Merrill Lynch Group Holdings II, L.L.C.
|
New York, NY | Delaware | ||
Merrill Lynch Group Holdings III, L.L.C.
|
New York, NY | Delaware | ||
Merrill Lynch Group Holdings IV, L.L.C.
|
New York, NY | Delaware | ||
Merrill Lynch Group Holdings Limited
|
Dublin, Ireland | Ireland |
23
Name | Location | Jurisdiction | ||
Merrill Lynch Group, Inc.
|
Charlotte, NC | Delaware | ||
Merrill Lynch HK Services Limited
|
Hong Kong, PRC | Hong Kong, PRC | ||
Merrill Lynch Holdings Latin America 1, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Holdings Latin America 2, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Holdings Latin America 3, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Holdings Latin America 4, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Holdings Latin America 5, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Holdings Latin America, Inc.
|
New York, NY | Cayman Islands | ||
Merrill Lynch Holdings Limited
|
New York, NY | England | ||
Merrill Lynch Holdings (Mauritius)
|
Port Louis, Mauritius | Mauritius | ||
Merrill Lynch Hopewell LLC
|
Pennington, NJ | Delaware | ||
Merrill Lynch, Hubbard Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Icahn Partners Fund LLC
|
New York, NY | Delaware | ||
Merrill Lynch Icahn Partners Ltd.
|
New York, NY | Cayman Islands | ||
Merrill Lynch Insurance Group, Inc.
|
Pennington, NJ | Delaware | ||
Merrill Lynch Insurance Group Services, Inc.
|
Jacksonville, FL | Delaware | ||
Merrill Lynch International
|
London, U.K. | England | ||
Merrill Lynch International (Australia) Ltd
|
Sydney, Australia | Australia | ||
Merrill Lynch International Bank Limited
|
Dublin, Ireland | Ireland | ||
Merrill Lynch International Capital Management (Guernsey) Limited
|
Guernsey, Channel Islands | Guernsey | ||
Merrill Lynch International & Co. C.V.
|
Curacao, Netherlands Antilles | Netherlands Antilles | ||
Merrill Lynch International Finance (Cayman) Ltd.
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Merrill Lynch International Finance, Inc.
|
New York, NY | New York | ||
Merrill Lynch International Holdings Inc.
|
New York, NY | Delaware | ||
Merrill Lynch International Incorporated
|
New York, NY | Delaware | ||
Merrill Lynch International Management Limited
|
Hamilton, Bermuda | Bermuda | ||
Merrill Lynch International Services Limited
|
Toronto, Ontario, Canada | Canada | ||
Merrill Lynch Investment Holdings (Mauritius) Limited
|
Port Louis, Mauritius | Mauritius | ||
Merrill Lynch Investment Managers (Finance) Limited
|
London, U.K. | England | ||
Merrill Lynch Investment Managers Group Services Limited
|
London, U.K. | England | ||
Merrill Lynch Investment Managers Holdings B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Merrill Lynch Investment Managers, L.P.
|
New York, NY | Delaware | ||
Merrill Lynch Islands Limited
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Merrill Lynch Israel Ltd.
|
Luxembourg, Luxembourg | Israel | ||
Merrill Lynch Japan Finance Co., Ltd.
|
Tokyo, Japan | Japan | ||
Merrill Lynch Japan Securities Co., Ltd.
|
Tokyo, Japan | Japan | ||
Merrill Lynch (Jersey) Holdings Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
Merrill Lynch JPNDC, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch KECALP International, L.P. 1997
|
New York, NY | Cayman Islands | ||
Merrill Lynch KECALP International, L.P. 1999
|
New York, NY | Cayman Islands | ||
Merrill Lynch KECALP L.P. 1997
|
New York, NY | Delaware | ||
Merrill Lynch KECALP L.P. 1999
|
New York, NY | Delaware | ||
Merrill Lynch, Kingdom of Saudi Arabia Company
|
Kingdom of Saudi Arabia | Saudi Arabia | ||
Merrill Lynch (KL) Sdn. Bhd.
|
Penang, Malaysia | Malaysia | ||
Merrill Lynch L.P. Holdings Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Labuan Holdings Limited
|
Labuan, Malaysia | Malaysia | ||
Merrill Lynch Life Agency
|
Pennington, NJ | Oklahoma | ||
Merrill Lynch Life Agency Inc. (Montana)
|
Pennington, NJ | Montana | ||
Merrill Lynch Life Agency Inc. (Oklahoma)
|
Pennington, NJ | Oklahoma | ||
Merrill Lynch Life Agency Inc. (Puerto Rico)
|
Pennington, NJ | Puerto Rico | ||
Merrill Lynch Life Agency Inc. (Virgin Islands)
|
Pennington, NJ | Virgin Islands | ||
Merrill Lynch Life Agency Inc. (Washington)
|
Pennington, NJ | Washington | ||
Merrill Lynch Liquidity Portfolio, L.P.
|
Edinburgh, Scotland | Scotland | ||
Merrill Lynch LLC
|
Moscow, Russia | Russia |
24
Name | Location | Jurisdiction | ||
Merrill Lynch Luxembourg Capital Funding SARL
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch Luxembourg Finance S.A.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch Luxembourg Holdings S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch Luxembourg Investments S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch (Luxembourg) S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch Management GmbH
|
Frankfurt, Germany | Germany | ||
Merrill Lynch Markets (Australia) Pty. Limited
|
Sydney, Australia | Australia | ||
Merrill Lynch (Mauritius) Investments Limited
|
Port Louis, Mauritius | Mauritius | ||
Merrill Lynch MBP Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Menkul Degerler A.S.
|
Istanbul, Turkey | Turkey | ||
Merrill Lynch Mexico Holdings 1, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Mexico Holdings 2, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Mexico, S.A. de C.V., Casa de Bolsa
|
Mexico City, Mexico | Mexico | ||
Merrill Lynch Middle East Holding Company
|
London, U.K. | Delaware | ||
Merrill Lynch Middle East Holdings I, L.L.C.
|
London, U.K. | Delaware | ||
Merrill Lynch Middle East Holdings II, L.L.C.
|
London, U.K. | Delaware | ||
Merrill Lynch Middle East Holdings III, L.L.C.
|
London, U.K. | Delaware | ||
Merrill Lynch Middle East Holdings IV, L.L.C.
|
London, U.K. | Delaware | ||
Merrill Lynch Money Markets Inc.
|
New York, NY | Delaware | ||
Merrill Lynch (Montevideo) S.A.
|
Montevideo, Uruguay | Uruguay | ||
Merrill Lynch Mortgage Capital Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Mortgage Investors, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Mortgage Lending, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Mortgage Services Corporation
|
New York, NY | Delaware | ||
Merrill Lynch Municipal ABS, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch N.V.
|
Amsterdam, The Netherlands | Netherlands | ||
Merrill Lynch NMTC Corp.
|
New York, NY | Delaware | ||
Merrill Lynch Nominees (Hong Kong) Limited
|
Hong Kong, PRC | Hong Kong, PRC | ||
Merrill Lynch Nominees Limited
|
London, U.K. | England | ||
Merrill Lynch OCRE General Ltd.
|
St. Helier, Jersey, Channel Islands | Jersey | ||
Merrill Lynch OCRE Holdings Ltd.
|
St. Helier, Jersey, Channel Islands | Jersey | ||
Merrill Lynch OCRE Jersey Ltd.
|
St. Helier, Jersey, Channel Islands | Jersey | ||
Merrill Lynch Participacoes, Financas e Servicos Ltda
|
Sao Paulo, Brazil | Brazil | ||
Merrill Lynch PCG, Inc.
|
New York, NY | Delaware | ||
Merrill Lynch, Pierce, Fenner & Smith (Brokers & Dealers)
|
London, U.K. | England | ||
Merrill Lynch, Pierce, Fenner & Smith (Hellas) E.P.E.
|
London, U.K. | Greece | ||
Merrill Lynch, Pierce, Fenner & Smith (Middle East) S.A.L.
|
Beirut, Lebanon | Lebanon | ||
Merrill Lynch, Pierce, Fenner & Smith Belge S.A.
|
Brussels, Belgium | Belgium | ||
Merrill Lynch, Pierce, Fenner & Smith de Argentina Sociedad Anonima, Financiera, Mobiliaria y de Mandatos
|
Capital Federal, Argentina | Argentina | ||
Merrill Lynch, Pierce, Fenner & Smith Incorporated
|
New York, NY | Delaware | ||
Merrill Lynch, Pierce, Fenner & Smith Limited
|
London, U.K. | England | ||
Merrill Lynch, Pierce, Fenner & Smith SAS
|
Paris, France | France | ||
Merrill Lynch PNG LNG Corp
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Merrill Lynch Polska Sp. z o.o.
|
Warsaw, Poland | Poland | ||
Merrill Lynch Portfolio Management Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Portfolio Managers (Channel Islands) Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
Merrill Lynch Portfolio Managers Limited
|
London, U.K. | England | ||
Merrill Lynch Princeton Incorporated
|
New York, NY | Delaware | ||
Merrill Lynch Principal Finance LLC
|
New York, NY | Delaware | ||
Merrill Lynch Principal Investments Co., Ltd.
|
Tokyo, Japan | Japan | ||
Merrill Lynch Private (Australia) Limited
|
Melbourne, Victoria, Australia | Australia | ||
Merrill Lynch Private Capital Inc.
|
New York, NY | Delaware |
25
Name | Location | Jurisdiction | ||
Merrill Lynch Private Equity Focus Fund, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Private Equity Focus Fund (Offshore ), L.P.
|
New York, NY | Cayman Islands | ||
Merrill Lynch Private Equity Fund, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Private Equity Fund II, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Private Equity Fund III, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Private Equity Fund III (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
Merrill Lynch Private Equity Offshore Fund, L.P.
|
New York, NY | Cayman Islands | ||
Merrill Lynch Private Equity Offshore Fund II, L.P.
|
New York, NY | Cayman Islands | ||
Merrill Lynch Professional Clearing Corp.
|
New York, NY | Delaware | ||
Merrill Lynch Properties Korea L.L.C.
|
Seoul, Korea | Korea | ||
Merrill Lynch Purchase Price Investment LLC
|
New York, NY | Delaware | ||
Merrill Lynch Real Estate II Incorporated
|
New York, NY | Delaware | ||
Merrill Lynch Reinsurance Solutions LTD
|
Hamilton, Bermuda | Bermuda | ||
Merrill Lynch Representacoes Ltda
|
Sao Paulo, Brazil | Brazil | ||
Merrill Lynch S.A.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch S.A. Corretora de Titulos e Valores Mobiliarios
|
Sao Paulo, Brazil | Brazil | ||
Merrill Lynch S.A.M.
|
Monte Carlo | Monaco | ||
Merrill Lynch Scotland Finance III Limited Partnership
|
Edinburgh, Scotland | Scotland | ||
Merrill Lynch Securities (Taiwan) Ltd.
|
Taipei, Taiwan | Taiwan | ||
Merrill Lynch Securities (Thailand) Limited
|
Bangkok, Thailand | Thailand | ||
Merrill Lynch Settlement Services, Inc.
|
Jacksonville, FL | Florida | ||
Merrill Lynch SIG Administradora e Gestora de Recursos Ltda.
|
Sao Paulo, Brazil | Brazil | ||
Merrill Lynch Singapore Commodities Pte. Ltd.
|
Singapore, Singapore | Singapore | ||
Merrill Lynch (Singapore) Pte Ltd.
|
Singapore, Singapore | Singapore | ||
Merrill Lynch South Africa (Proprietary) Limited
|
Gauteng, South Africa | South Africa | ||
Merrill Lynch Specialty Finance LLC
|
New York, NY | Delaware | ||
Merrill Lynch Srl
|
Rome, Italy | Italy | ||
Merrill Lynch SSG S.A.R.L.
|
Luxembourg, Luxembourg | Luxembourg | ||
Merrill Lynch Strategic Investment Advisors Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Strategic Investments Holdings, LLC-1
|
New York, NY | Delaware | ||
Merrill Lynch Strategic Investments, LLC-2
|
New York, NY | Delaware | ||
Merrill Lynch Structured Investments, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Trust Services S.A.
|
Geneva, Switzerland | Switzerland | ||
Merrill Lynch UK Finance
|
London, U.K. | England | ||
Merrill Lynch (UK) Healthcare Trustee Limited
|
London, U.K. | England | ||
Merrill Lynch UK Holdings
|
London, U.K. | England | ||
Merrill Lynch (UK) Pension Plan Trustees Limited
|
London, U.K. | England | ||
Merrill Lynch Valores S.A. Sociedad de Bolsa
|
Capital Federal, Argentina | Argentina | ||
Merrill Lynch Venture Capital Inc.
|
New York, NY | Delaware | ||
Merrill Lynch Ventures Administrators, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Ventures, LLC
|
New York, NY | Delaware | ||
Merrill Lynch Ventures L.P. 2001
|
New York, NY | Delaware | ||
Merrill Lynch Yatirim Bank A.S.
|
Istanbul, Turkey | Turkey | ||
Merrill Lynch/WFC/L, Inc.
|
New York, NY | New York | ||
Merrill Lynch Zen Asset Finance Fund, Ltd.
|
New York, NY | Cayman Islands | ||
MerryPlace Development, LLC
|
Charlotte, NC | Florida | ||
MerryPlace, LLC
|
Charlotte, NC | Florida | ||
Mership Nominees Limited
|
London, U.K. | England | ||
MESBIC Ventures, Inc.
|
Richardson, TX | Texas | ||
Mesirow Access, LLC
|
New York, NY | Delaware | ||
Mesirow Access, Ltd.
|
New York, NY | Cayman Islands | ||
Metro Plaza, Inc.
|
Boston, MA | Massachusetts | ||
Mid-Atlantic Gotham Golf, Inc.
|
New York, NY | Delaware |
26
Name | Location | Jurisdiction | ||
Middletown Finance, LLC
|
Charlotte, NC | Delaware | ||
Midland Doherty Realty Inc.
|
Toronto, Ontario, Canada | Arizona | ||
Midland Walwyn Capital Corporation
|
Toronto, Ontario, Canada | Delaware | ||
Midland Walwyn Inc.
|
Toronto, Ontario, Canada | Canada | ||
Midway Road Funding Ltd.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Midway Trust
|
Wilmington, DE | Delaware | ||
Midwest Affordable Housing 1997-1, L.L.C.
|
Charlotte, NC | Missouri | ||
Midwest Mezzanine Fund III, L.P.
|
Chicago, IL | Delaware | ||
Mier-Day Properties, LLC
|
San Francisco, CA | Delaware | ||
Milestone (Cayman) Limited
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Mitchell Funding LLC
|
Charlotte, NC | Delaware | ||
Mitsubishi UFJ Merrill Lynch PB Securities Co., Ltd.
|
Tokyo, Japan | Japan | ||
MJB Co. Ltd.
|
Hong Kong, PRC | Thailand | ||
ML 1633 Broadway LLC
|
New York, NY | Delaware | ||
ML 2003 Alpha LLC
|
New York, NY | Delaware | ||
ML 2003 Beta LLC
|
New York, NY | Delaware | ||
ML 35 LLC
|
New York, NY | Delaware | ||
ML 300 Corporation
|
Pennington, NJ | Delaware | ||
ML 300 Spear LLC
|
New York, NY | Delaware | ||
ML Aberdare
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML-AIG Healthcare Trust
|
New York, NY | Delaware | ||
ML Altaris Health Partners Trust
|
New York, NY | Delaware | ||
ML Altis FuturesAccess LLC
|
New York, NY | Delaware | ||
ML Andromeda (Cayman)
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Asian R.E. Fund C.I.M.P., L.P.
|
New York, NY | Delaware | ||
ML Asian R.E. Fund C.I.P., L.P.
|
New York, NY | Delaware | ||
ML Asian R.E. Fund C.I.R.P., L.P.
|
New York, NY | Delaware | ||
ML Asian R.E. Fund (ERISA), L.P.
|
New York, NY | Cayman Islands | ||
ML Asian R.E. Fund (Germany) L.P.
|
New York, NY | England | ||
ML Asian R.E. Fund GP, L.L.C.
|
New York, NY | Delaware | ||
ML Asian R.E. Fund II GP, L.L.C.
|
New York, NY | Delaware | ||
ML Asian R.E. Fund GP, L.P.
|
New York, NY | Cayman Islands | ||
ML Asian R.E. Fund II GP, L.P.
|
New York, NY | Cayman Islands | ||
ML Asian R.E. Fund ML C.I., L.P.
|
New York, NY | England | ||
ML Asian R.E. Fund (ML), L.P.
|
New York, NY | England | ||
ML Asian R.E. Fund II (ML), L.P.
|
New York, NY | England | ||
ML Asian Real Estate Opportunity (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML Asian Real Estate Opportunity Trust
|
New York, NY | Delaware | ||
ML Aspect FuturesAccess LLC
|
New York, NY | Delaware | ||
ML Aspect FuturesAccess Ltd
|
New York, NY | Cayman Islands | ||
ML Asset Backed Corporation
|
New York, NY | Delaware | ||
ML Asset Holdings LLC
|
Wilmington, DE | Delaware | ||
ML Banderia Cayman BRL Inc.
|
New York, NY | Cayman Islands | ||
ML Basil Trust
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML-BCP V (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-BCP V Trust
|
New York, NY | Delaware | ||
ML BCV Two Hotels LLC
|
New York, NY | Delaware | ||
ML Beech
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML BlueTrend FuturesAccess LLC
|
New York, NY | Delaware | ||
ML Bosphorus Holdings LLC
|
Wilmington, DE | Delaware | ||
ML Bosphorus RE Holdings Jersey I Ltd.
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML BREP Member LLC
|
New York, NY | Delaware | ||
ML BREP MM LLC
|
New York, NY | Delaware | ||
ML Bullseye PGP LLC
|
New York, NY | Delaware |
27
Name | Location | Jurisdiction | ||
ML Cable Holdings Limited
|
London, U.K. | England | ||
ML Cable Investments 1 Limited
|
London, U.K. | England | ||
ML Cable Investments 2 Limited
|
London, U.K. | England | ||
ML Cable Investments 3 Limited
|
London, U.K. | England | ||
ML CAM Jersey Limited
|
Pennington, NJ | Jersey | ||
ML Canary (Cayman)
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML CAP III (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML CAP III Trust
|
New York, NY | Delaware | ||
ML Cardiff Holdings Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML Cardiff Jersey Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML Cayman 2003 Holding Corp.
|
New York, NY | Cayman Islands | ||
ML Cayman 2003 Investor Corp.
|
New York, NY | Cayman Islands | ||
ML Cayman Holdings Inc.
|
New York, NY | Delaware | ||
ML Cayman Positions, Ltd.
|
New York, NY | Cayman Islands | ||
ML Chestnut
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML City Center LLC
|
New York, NY | Delaware | ||
ML-Clayton, Dubilier & Rice Trust
|
New York, NY | Delaware | ||
ML Compayne
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Cortlandt Realty Corporation
|
New York, NY | Delaware | ||
ML Credit Investments Series 2008-1 Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML Credit Investments Series 2008-2 Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML-Crimson (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML Cruzeiro Cayman BRL Inc.
|
New York, NY | Cayman Islands | ||
ML-CSP II Trust
|
New York, NY | Delaware | ||
ML-CSP II-A Trust
|
New York, NY | Delaware | ||
ML-CSP II (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML Dover Properties, Inc.
|
New York, NY | Delaware | ||
ML-Elevation (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-Elevation Trust
|
New York, NY | Delaware | ||
ML EMEA Holdings II LLC
|
New York, NY | Delaware | ||
ML EMEA Holdings LLC
|
New York, NY | Delaware | ||
ML EMGF Mosel S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
ML Employees LBO Managers, Inc.
|
New York, NY | Delaware | ||
ML Energy Fund Management, LLC
|
New York, NY | Delaware | ||
ML Energy Investment Corp.
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
ML Energy Investment Fund Upstream (PNG) Pty Ltd
|
Sydney, NSW, Australia | Australia | ||
ML Energy Partners, LLC
|
Houston, TX | Delaware | ||
ML Equity Holdings LLC
|
New York, NY | Delaware | ||
ML Equity Solutions Jersey Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML European Asian R.E. Fund U.S. Investment Advisor, L.L.C.
|
New York, NY | Delaware | ||
ML European R.E. Fund ML C.I., L.P.
|
New York, NY | England | ||
ML European R.E. Fund (ML), L.P.
|
New York, NY | England | ||
ML Film Entertainment International Inc.
|
New York, NY | Delaware | ||
ML Florido Cayman MX Inc.
|
New York, NY | Cayman Islands | ||
ML Fund Administrators Inc.
|
New York, NY | Delaware | ||
ML GBP Hold Co LLC
|
New York, NY | Delaware | ||
ML GBP Investments, Inc.
|
New York, NY | Delaware | ||
ML GCRE GP, L.L.C.
|
New York, NY | Delaware | ||
ML GCRE IBK LLC
|
New York, NY | Delaware | ||
ML GCRE LPH LLC
|
New York, NY | Delaware | ||
ML Global Investments Ltd.
|
New York, NY | Cayman Islands | ||
ML Global Private Equity Fund, L.P.
|
New York, NY | Cayman Islands | ||
ML Global Private Equity Partners, L.P.
|
New York, NY | Cayman Islands | ||
ML Hannibal Properties Corp.
|
New York, NY | Delaware |
28
Name | Location | Jurisdiction | ||
ML Hayden Trust
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Hedge Fund Ventures
|
New York, NY | Cayman Islands | ||
ML Hedge Fund Ventures II
|
New York, NY | Cayman Islands | ||
ML-Hicks Muse Trust
|
New York, NY | Delaware | ||
ML Hillyer, LLC
|
New York, NY | Delaware | ||
ML Houston GP, Inc.
|
New York, NY | Delaware | ||
ML Houston Ltd.
|
New York, NY | Texas | ||
ML Houston Mezz LLC
|
New York, NY | Delaware | ||
ML IBK Positions, Inc.
|
New York, NY | Delaware | ||
ML Infrastructure Holdings II Ltd.
|
New York, NY | Cayman Islands | ||
ML Infrastructure Holdings LLC
|
New York, NY | Delaware | ||
ML Infrastructure Holdings Ltd.
|
New York, NY | Cayman Islands | ||
ML Infrastructure Holdings S.ar.l.
|
New York, NY | Luxembourg | ||
ML Insurance (IOM) Limited
|
Douglas, Isle of Man | Isle of Man | ||
ML Invest Finance, L.L.C.
|
New York, NY | Delaware | ||
ML Invest Holdings
|
London, U.K. | England | ||
ML Invest, Inc.
|
New York, NY | Delaware | ||
ML Invest Scotland Finance Limited Partnership
|
Edinburgh, Scotland | Scotland | ||
ML John Locke FuturesAccess LLC
|
New York, NY | Delaware | ||
ML Knight 2003 Holding Corp.
|
New York, NY | Cayman Islands | ||
ML Knight 2003 Investor Corp.
|
New York, NY | Cayman Islands | ||
ML Larch
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Lareh Asset Manager LLC
|
New York, NY | Delaware | ||
ML Lareh Member LLC
|
New York, NY | Delaware | ||
ML Lareh MM LLC
|
New York, NY | Delaware | ||
ML LCI Asia L.P.
|
New York, NY | Cayman Islands | ||
ML LCI Europe L.P.
|
New York, NY | England | ||
ML Leasing Equipment Corp.
|
New York, NY | Delaware | ||
ML Leasing Servicing, Inc.
|
New York, NY | Delaware | ||
ML-Lee Internet Trust
|
New York, NY | Delaware | ||
ML-Lehman Crossroads XVIII (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-Lehman Crossroads XVIII Trust
|
New York, NY | Delaware | ||
ML Life Agency Inc. (Texas)
|
Pennington, NJ | Texas | ||
ML Liquidity Portfolio LLC
|
New York, NY | Delaware | ||
ML MBF GP, Ltd.
|
New York, NY | Cayman Islands | ||
ML MBS Services Limited
|
London, U.K. | England | ||
ML Media Management Inc.
|
New York, NY | Delaware | ||
ML Mezzanine II, Inc.
|
New York, NY | Delaware | ||
ML Mosel Holdings Gibraltar Ltd.
|
Gibraltar, Gibraltar | Gibraltar | ||
ML Mosel Holdings Luxembourg S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
ML Newcastle (Gibraltar) Limited
|
Gibraltar, Gibraltar | Gibraltar | ||
ML Newcastle Investments Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML Newcastle Issuer S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
ML Newcastle Luxembourg S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
ML North Cove Fund Ltd.
|
New York, NY | Cayman Islands | ||
ML Nuveen Co-Invest, Ltd.
|
New York, NY | Cayman Islands | ||
ML Observatory Trust
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Onyx Properties Corp.
|
New York, NY | Delaware | ||
ML Palm, LLC
|
New York, NY | Delaware | ||
ML Petrie Parkman Co., Inc.
|
New York, NY | Delaware | ||
ML Phoenix Inns LLC
|
New York, NY | Delaware | ||
ML Phoenix Manager LLC
|
New York, NY | Delaware | ||
ML Pine
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Plainsboro Limited Partnership
|
Pennington, NJ | New Jersey |
29
Name | Location | Jurisdiction | ||
ML Ponserv Inc.
|
New York, NY | Delaware | ||
ML Pontiac Properties Corp.
|
New York, NY | Michigan | ||
ML Pref LLC
|
New York, NY | Delaware | ||
ML Pref Member LLC
|
New York, NY | Delaware | ||
ML Priory
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Private Equity Offshore Ltd.
|
New York, NY | Cayman Islands | ||
ML Private Finance LLC
|
New York, NY | Delaware | ||
ML Ray Co-Investor GP Ltd.
|
New York, NY | Cayman Islands | ||
ML Ray Investor GP Ltd.
|
New York, NY | Cayman Islands | ||
ML Ray Investor, L.P.
|
New York, NY | Cayman Islands | ||
ML Ray Investor S.a.r.L.
|
New York, NY | Luxembourg | ||
ML Rowley
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Salinas Cayman MX Inc.
|
New York, NY | Cayman Islands | ||
ML SB Girvin Plaza, LLC
|
New York, NY | Delaware | ||
ML SB Lodge North Investors
|
New York, NY | Delaware | ||
ML Select Futures I L.P.
|
New York, NY | Delaware | ||
ML Select Futures Ltd.
|
New York, NY | Cayman Islands | ||
ML-Silver Lake III (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-Silver Lake Offshore Partners, L.P.
|
New York, NY | Cayman Islands | ||
ML-Silver Lake Special Trust
|
New York, NY | Delaware | ||
ML-Silver Lake Trust
|
New York, NY | Delaware | ||
ML-Silver Lake Trust II
|
New York, NY | Delaware | ||
ML-Silver Lake Trust II (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML Spider
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML ST/PCV LLC
|
New York, NY | Delaware | ||
ML Stonelake Asset Manager LLC
|
New York, NY | Delaware | ||
ML Stonelake GP LLC
|
New York, NY | Delaware | ||
ML Stonelake LP
|
New York, NY | Delaware | ||
ML Systematic Momentum FuturesAccess, LLC
|
New York, NY | Delaware | ||
ML Systematic Momentum FuturesAccess, Ltd.
|
New York, NY | Cayman Islands | ||
ML Tate Financing Co.
|
New York, NY | Delaware | ||
ML Taurus, Inc.
|
New York, NY | Delaware | ||
ML Terrano, LLC
|
New York, NY | Delaware | ||
ML-Thomas H Lee Equity Fund VI (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-Thomas H Lee Equity Fund VI Trust
|
New York, NY | Delaware | ||
ML Tonala Cayman MX Inc.
|
New York, NY | Cayman Islands | ||
ML Tower Trust
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
ML Transtrend DTP Enhanced FuturesAccess LLC
|
New York, NY | Delaware | ||
ML Trend Following Futures Fund LP
|
New York, NY | Cayman Islands | ||
ML Trend Following Futures Ltd.
|
New York, NY | Cayman Islands | ||
ML Ubase Holdings Co., Ltd.
|
Labuan, East Malaysia | Malaysia | ||
ML UK Capital Holdings
|
London, U.K. | England | ||
ML UK Funding Limited
|
London, U.K. | England | ||
ML UK Services Limited
|
London, U.K. | Cayman Islands | ||
ML Umbrella FCP
|
Paris, France | France | ||
ML Veda Co-Invest, Ltd.
|
New York, NY | Cayman Islands | ||
ML VI Hotel Co LLC
|
New York, NY | Virgin Islands | ||
ML Viola, LLC
|
New York, NY | Delaware | ||
ML Walton Street Trust
|
New York, NY | Delaware | ||
ML-Warburg Pincus II (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-Warburg Pincus III (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-Warburg Pincus Trust
|
New York, NY | Delaware | ||
ML-Warburg Pincus Trust II
|
New York, NY | Delaware | ||
ML-Warburg Pincus Trust III
|
New York, NY | Delaware |
30
Name | Location | Jurisdiction | ||
ML-Welsh Carson Anderson & Stowe (Offshore), L.P.
|
New York, NY | Cayman Islands | ||
ML-Welsh Carson Anderson & Stowe Trust
|
New York, NY | Delaware | ||
ML Whitby (Gibraltar) Limited
|
Gibraltar, Gibraltar | Gibraltar | ||
ML Whitby Investments Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
ML Whitby Issuer S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
ML Whitby Luxembourg S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
ML Windy City Investments Holdings, L.L.C.
|
New York, NY | Delaware | ||
ML Winton FuturesAccess LLC
|
New York, NY | Delaware | ||
ML Winton FuturesAccess Ltd
|
New York, NY | Cayman Islands | ||
ML-WP Trust IV
|
New York, NY | Delaware | ||
ML-WP X Trust
|
New York, NY | Delaware | ||
MLAE Nominees Pty Limited
|
Sydney, NSW, Australia | Australia | ||
MLBC, Inc.
|
Chicago, IL | Delaware | ||
MLBUSA Community Development Corp.
|
New York, NY | Delaware | ||
MLBUSA Funding Corporation
|
Salt Lake City, UT | Delaware | ||
MLCI Holdings, Inc.
|
Houston, TX | Delaware | ||
MLCP Partners LLC
|
Charlotte, NC | Delaware | ||
MLDP Holdings, Inc.
|
New York, NY | Delaware | ||
MLEIH Funding
|
London, U.K. | England & Wales | ||
MLEQ Nominees Pty Limited
|
Sydney, NSW, Australia | Australia | ||
MLFS Hold Co A Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
MLFS Hold Co LLC
|
Wilmington, DE | Delaware | ||
MLGP Urban Renewal LLC
|
Pennington, NJ | New Jersey | ||
MLGPE A-Re, L.P.
|
New York, NY | Cayman Islands | ||
MLGPE Associates III L.P.
|
New York, NY | Cayman Islands | ||
MLGPE Delaware LLC
|
New York, NY | Delaware | ||
MLGPE Fund International II, L.P.
|
New York, NY | Cayman Islands | ||
MLGPE Fund US Alternative, L.P.
|
New York, NY | Delaware | ||
MLGPE Fund US II, L.P.
|
New York, NY | Delaware | ||
MLGPE HK GP Limited
|
Hong Kong, PRC | Hong Kong | ||
MLGPE International Capital Ltd.
|
New York, NY | Cayman Islands | ||
MLGPE International Strategies Ltd.
|
New York, NY | Cayman Islands | ||
MLGPE Investors, L.P.
|
New York, NY | Cayman Islands | ||
MLGPE Ltd.
|
New York, NY | Cayman Islands | ||
MLGPE Partners II, L.P.
|
New York, NY | Cayman Islands | ||
MLGPE US Capital LLC
|
New York, NY | Delaware | ||
MLGPE US Strategies LLC
|
New York, NY | Delaware | ||
MLGPI Holdings B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
MLH Group Inc.
|
New York, NY | Delaware | ||
MLH Merger Corporation
|
New York, NY | New York | ||
MLHC, Inc.
|
New York, NY | Delaware | ||
MLHM, Inc.
|
New York, NY | California | ||
MLHQ, LLC
|
New York, NY | Delaware | ||
MLHRE Incorporated
|
New York, NY | Delaware | ||
mlib (historic)
|
London, U.K. | England | ||
MLIM Administration, L.P.
|
New York, NY | Delaware | ||
MLIM Capital Limited
|
London, U.K. | England | ||
MLIM Investments Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
MLIS Limited
|
London, U.K. | England | ||
MLMBCAV, Inc.
|
New York, NY | Delaware | ||
MLMCI Ohio, Inc.
|
New York, NY | Ohio | ||
MLMCI, LLC
|
New York, NY | Delaware | ||
MLML Subdebt Holding LLC
|
New York, NY | Delaware | ||
MLOC European Real Estate S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg |
31
Name | Location | Jurisdiction | ||
MLOCG European Real Estate S.a.r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
MLP Nominees Pty Limited
|
Melbourne, Victoria, Australia | Australia | ||
MLPF&SH Limited
|
London, U.K. | United Kingdom | ||
MLRE II Incorporated
|
New York, NY | Delaware | ||
MMoney, LLC
|
San Francisco, CA | Delaware | ||
MMovie Star Movie, LLC
|
San Francisco, CA | Delaware | ||
MNB Smartcard Technologies, Inc.
|
Farmington Hills, MI | Michigan | ||
Mohawk River Funding II, L.L.C.
|
Houston, TX | Delaware | ||
Monarch Debt Recovery Participation Fund LLC
|
New York, NY | Delaware | ||
Monarch Debt Recovery Participation Fund LTD.
|
New York, NY | Cayman Islands | ||
Mortgage & Auto Solutions, Inc.
|
Dallas, TX | Texas | ||
Mortgage Equity Conversion Asset Corporation
|
Wilmington, DE | Delaware | ||
Mortgage Holdings Limited
|
London, U.K. | England | ||
Mortgages 1 Limited
|
London, U.K. | England | ||
Mortgages 2 Limited
|
London, U.K. | England | ||
Mortgages 3 Limited
|
London, U.K. | England | ||
Mortgages 4 Limited
|
London, U.K. | England | ||
Mortgages 5 Limited
|
London, U.K. | England | ||
Mortgages 6 Limited
|
London, U.K. | England | ||
Mortgages 7 Limited
|
London, U.K. | England | ||
Mortgages plc
|
London, U.K. | England | ||
Muirfield Trading LLC
|
Charlotte, NC | Delaware | ||
Multi-Family Housing Investment Fund I, LLC
|
Charlotte, NC | North Carolina | ||
Murry Park, Inc.
|
Charlotte, NC | Delaware | ||
N.B. (Bahamas) Ltd.
|
Nassau, Bahamas | Bahamas | ||
N.Y. Nominees Limited
|
London, U.K. | England | ||
NationsBanc Leasing & R.E. Corporation
|
Charlotte, NC | Delaware | ||
NationsCredit Financial Services Corporation
|
Jacksonville, FL | North Carolina | ||
NationsCredit Insurance Agency, Inc.
|
Jacksonville, FL | Pennsylvania | ||
NB Capital Trust II
|
Charlotte, NC | Delaware | ||
NB Capital Trust III
|
Charlotte, NC | Delaware | ||
NB Capital Trust IV
|
Charlotte, NC | Delaware | ||
NB Finance Lease, Inc.
|
San Francisco, CA | Delaware | ||
NB Funding Company LLC
|
Charlotte, NC | Delaware | ||
NB Holdings Corporation
|
Charlotte, NC | Delaware | ||
NB International Finance B.V.
|
Amsterdam, The Netherlands | Netherlands | ||
NB Partner Corp.
|
Charlotte, NC | Delaware | ||
NBCDC Osborne, Inc.
|
Tampa, FL | Florida | ||
NEBACO, INC.
|
Charlotte, NC | Nevada | ||
Neptune 1, LLC
|
New York, NY | Delaware | ||
NeSBIC Buy Out Fund Invest VII B.V.
|
Utrecht, The Netherlands | Netherlands | ||
Nevis Investments Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Newark Lane Pty Limited
|
Charlotte, NC | Australia | ||
Newcastle Capital Ireland Limited
|
Dublin, Ireland | Ireland | ||
Newfound Bay Limited
|
Luxembourg, Luxembourg | United Kingdom | ||
Newland Lane Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Newport Insurance Company
|
Irvine, CA | Arizona | ||
Newport Management Corporation
|
Irvine, CA | California | ||
Nexstar Financial Corporation
|
Saint Charles, MO | Delaware | ||
NFA Funding LLC
|
New York, NY | Delaware | ||
Nightingale Lane Pty Limited
|
Charlotte, NC | Australia | ||
Nihonbashi Loan Service Corporation
|
Tokyo, Japan | Japan | ||
Nihonbashi Residential Mortgage Corporation
|
Tokyo, Japan | Japan | ||
Nippon Holdings, LLC
|
New York, NY | Delaware |
32
Name | Location | Jurisdiction | ||
NMS Capital, L.P.
|
Chicago, IL | Delaware | ||
NMS Investment Holdings, LLC
|
New York, NY | Delaware | ||
NMS Services (Cayman) Inc.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
NMS Services, Inc.
|
New York, NY | Delaware | ||
NMS/Oak VIII, LLC
|
San Francisco, CA | Delaware | ||
Norstar Venture Partners I
|
Providence, RI | Delaware | ||
North Cove CDO II, LTD.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
North East Hillcroft, Inc.
|
Providence, RI | Texas | ||
Northam Lane Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
NorthEnd Advisor Managing Member LLC
|
New York, NY | Delaware | ||
NorthEnd Holding Company LLC
|
New York, NY | Delaware | ||
NorthEnd Income Property Trust, Inc.
|
New York, NY | Maryland | ||
NorthEnd Operating Partnership LP
|
New York, NY | Delaware | ||
NorthEnd Realty Advisors LLC
|
New York, NY | Delaware | ||
Northern Antelope Holdings, Inc.
|
New York, NY | Delaware | ||
NorthRoad Capital Management LLC
|
New York, NY | New York | ||
Norton Golf LLC
|
Boston, MA | Delaware | ||
NPC Internacional S.A. de C.V.
|
Juarez, Mexico | Mexico | ||
NYSCRF Pioneer Partnership Fund A, L.P.
|
Chicago, IL | Delaware | ||
Oak V Distressed Participation Fund (Fund) Offshore, L.P.
|
New York, NY | Cayman Islands | ||
Oak V Distressed Participation Trust
|
New York, NY | Delaware | ||
Oakridge Pines, LLC
|
Tampa, FL | Florida | ||
OConnor European Property Partners, L.P.
|
Wilmington, DE | Delaware | ||
Oechsle International Advisors, LLC
|
Boston, MA | Delaware | ||
Oldland Lane Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
One Bryant Park LLC
|
New York, NY | Delaware | ||
Onslow Finance LLC
|
Charlotte, NC | Delaware | ||
OOO Merrill Lynch Securities
|
Moscow, Russia | Russia | ||
Orta S.r.l.
|
Rome, Italy | Italy | ||
Ortensia S.r.l.
|
Rome, Italy | Italy | ||
Oshkosh/McNeilus Financial Services Partnership
|
Dodge Center, MN | California | ||
Otter Lake Funding LLC
|
Charlotte, NC | Delaware | ||
OZDPII Access LLC
|
New York, NY | Delaware | ||
OZOFII Access Ltd.
|
New York, NY | Cayman Islands | ||
Pacesetter SBIC Fund, Inc.
|
Richardson, TX | Texas | ||
Pacesetter/MVHC, Inc.
|
Richardson, TX | Texas | ||
Panchshil Techpark Private Limited
|
Mumbai, India | India | ||
Paneldeluxe Company Limited
|
Chester, England | England | ||
Paradise Funding, Ltd.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Paradise Urban Investments, LLC
|
Dallas, TX | Arizona | ||
Paramount Nominees Limited
|
London, U.K. | England | ||
Pariter Solutions, LLC
|
San Francisco, CA | Delaware | ||
Park Granada LLC
|
Calabasas, CA | Delaware | ||
Park Monaco Inc.
|
Calabasas, CA | Delaware | ||
Park Sienna LLC
|
Calabasas, CA | Delaware | ||
Parkside Residential LLC
|
Washington, DC | District of Columbia | ||
Parkside Senior Housing LLC
|
Washington, DC | District of Columbia | ||
Paulson Access LLC
|
New York, NY | Delaware | ||
Paulson Access II LLC
|
New York, NY | Delaware | ||
Paulson Access LTD.
|
New York, NY | Cayman Islands | ||
Paulson Advantage Access LLC
|
New York, NY | Delaware | ||
Paulson Advantage Access II LLC
|
New York, NY | Delaware | ||
Paulson Advantage Access III LLC
|
New York, NY | Delaware | ||
Paulson Advantage Access, Ltd.
|
New York, NY | Cayman Islands |
33
Name | Location | Jurisdiction | ||
Paulson Gold Participation LLC
|
New York, NY | Delaware | ||
Paulson Gold Participation Ltd.
|
New York, NY | Cayman Islands | ||
Paulson Recovery Participation Fund, LLC
|
New York, NY | Delaware | ||
Paulson Recovery Participation Fund II, LLC
|
New York, NY | Delaware | ||
Paulson Recovery Participation Fund Ltd.
|
New York, NY | Cayman Islands | ||
PC Dallas Holdings, LP
|
Dallas, TX | Texas | ||
PC/Flowers I Inc.
|
New York, NY | Texas | ||
PC/Flowers Inc.
|
New York, NY | Texas | ||
Peapack Properties Corp.
|
New York, NY | Delaware | ||
Peninsula Capital Corporation
|
Seoul, Korea | Korea | ||
Perissa LLC
|
San Francisco, CA | Delaware | ||
Permal Access LLC
|
New York, NY | Delaware | ||
Permal PIH Access, Ltd.
|
New York, NY | Cayman Islands | ||
Piccadilly Financing LLC
|
Charlotte, NC | Delaware | ||
Pilot Financial Corp.
|
Blue Bell, PA | Pennsylvania | ||
Pine Harbour S.a r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Pinehurst Trading, Inc.
|
Charlotte, NC | Delaware | ||
Pinot IV, LLC
|
New York, NY | Delaware | ||
Pinyon Holdings, Inc.
|
Charlotte, NC | Delaware | ||
Pinyon Park LLC
|
Charlotte, NC | Delaware | ||
PJM Office Building, LLC
|
Baltimore, MD | Maryland | ||
PJM Retail Center, LLC
|
Baltimore, MD | Maryland | ||
Plano Partners
|
Charlotte, NC | Delaware | ||
Pluto 1, LLC
|
New York, NY | Delaware | ||
Post Access LLC
|
New York, NY | Delaware | ||
Post Access LTD.
|
New York, NY | Cayman Islands | ||
Powergate Associates Limited
|
Amsterdam, The Netherlands | United Kingdom | ||
PPC, LLC
|
New York, NY | Colorado | ||
PPM Monarch Bay Funding LLC
|
Charlotte, NC | Delaware | ||
PPM Shadow Creek Funding LLC
|
Charlotte, NC | Delaware | ||
PPM Spyglass Funding Trust
|
Wilmington, DE | Delaware | ||
Premium Credit Limited
|
Epsom, United Kingdom | England | ||
Prime Asset Custody Transfers Limited
|
London, U.K. | United Kingdom | ||
Princeton Retirement Group, Inc., The
|
Atlanta, GA | Delaware | ||
Princeton Services, Inc.
|
New York, NY | Delaware | ||
Private Equity Portfolio Fund, LLC
|
Boston, MA | Delaware | ||
Private Equity Portfolio Fund II, LLC
|
Boston, MA | Delaware | ||
Private Equity Portfolio Fund III, LLC
|
Boston, MA | Delaware | ||
Private Equity Portfolio Technology Fund, LLC
|
Boston, MA | Delaware | ||
PRLAP, Inc.
(Alaska Corporation)
|
Juneau, AK | Alaska | ||
PRLAP, Inc.
(Missouri Corporation)
|
Clayton, MO | Missouri | ||
PRLAP, Inc.
(North Carolina Corporation)
|
Charlotte, NC | North Carolina | ||
PRLAP, Inc.
(Tennessee Corporation)
|
Knoxville, TN | Tennessee | ||
PRLAP, Inc.
(Texas Corporation)
|
Dallas, TX | Texas | ||
PRLAP, Inc.
(Virginia Corporation)
|
Richmond, VA | Virginia | ||
PRLAP, Inc.
(Washington Corporation)
|
Seattle, WA | Washington | ||
Progress Capital Trust I
|
Blue Bell, PA | Delaware | ||
Progress Capital Trust II
|
Blue Bell, PA | Delaware | ||
Progress Capital Trust III
|
Blue Bell, PA | Delaware | ||
Progress Capital Trust IV
|
Blue Bell, PA | Delaware | ||
Progress Capital, Inc.
|
Boston, MA | Delaware | ||
Prontco Pty Limited
|
Sydney, New South Wales, Australia | Australia | ||
Propco Bridge LLC
|
New York, NY | Delaware | ||
PT Merrill Lynch Indonesia
|
Jakarta, Indonesia | Indonesia |
34
Name | Location | Jurisdiction | ||
Pydna Corporation
|
San Francisco, CA | Delaware | ||
Quality Properties Asset Management Company
|
Chicago, IL | Illinois | ||
Raintree Trading LLC
|
Charlotte, NC | Delaware | ||
ReconTrust Company, National Association
|
Simi Valley, CA | United States of America | ||
Red Fox Funding LLC
|
Charlotte, NC | Delaware | ||
Red River Holdings Limited
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Red River Park, Inc.
|
Charlotte, NC | Delaware | ||
Regent Street II, Inc.
|
Charlotte, NC | Delaware | ||
Relative Value HedgeAccess Ltd.
|
New York, NY | Cayman Islands | ||
Relative Value Opportunities Ltd.
|
New York, NY | Cayman Islands | ||
Renaissance Access LLC
|
New York, NY | Delaware | ||
Renaissance Access II LLC
|
New York, NY | Delaware | ||
Renaissance Access III LLC
|
New York, NY | Delaware | ||
Renaissance Access IV LLC
|
New York, NY | Delaware | ||
Renaissance Access V LLC
|
New York, NY | Delaware | ||
Renaissance Access LTD.
|
New York, NY | Cayman Islands | ||
Resort Funding LLC
|
Syracuse, NY | Delaware | ||
Richard III, LLC
|
New York, NY | Delaware | ||
RIHT Life Insurance Company
|
Phoenix, AZ | Arizona | ||
Riley Chase Apartments, LLC
|
Tampa, FL | Florida | ||
Ritchie Court M Corporation
|
Baltimore, MD | Maryland | ||
Riverfalls Urban Investments, LLC
|
Dallas, TX | Texas | ||
Riviera Funding LLC
|
Charlotte, NC | Delaware | ||
Robeco-Sage Access LLC
|
New York, NY | Delaware | ||
Robeco-Sage Access, Ltd.
|
New York, NY | Cayman Islands | ||
Robertson Stephens Capital Markets Holdings Ltd.
|
Tel Aviv, Israel | Israel | ||
Robertson Stephens Group, Inc.
|
San Francisco, CA | Delaware | ||
Robertson Stephens International Holdings, Inc.
|
San Francisco, CA | Delaware | ||
Robertson Stephens International, Ltd.
|
London, U.K. | United Kingdom | ||
Rockett, LLC, The
|
San Francisco, CA | Delaware | ||
ROP Investments Limited
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
Rosebank Meadows Subdivision, LLC
|
Nashville, TN | Tennessee | ||
Rosedale General Partner, LLC
|
Baltimore, MD | Maryland | ||
Rosedale Terrace Limited Partnership
|
Baltimore, MD | Maryland | ||
Roszel Advisors, LLC
|
Pennington, NJ | Delaware | ||
S.N.C. Nominees Limited
|
London, U.K. | England | ||
SA Mortgage Services, LLC
|
Thousand Oaks, CA | Delaware | ||
Salem Lafayette Development LLC
|
Boston, MA | Massachusetts | ||
Saturn 1, LLC
|
New York, NY | Delaware | ||
Sauternes V, LLC
|
New York, NY | Delaware | ||
Sawgrass Trading LLC
|
Charlotte, NC | Delaware | ||
SB Holdings, Inc.
|
Charlotte, NC | Delaware | ||
SCCP I GP, LLC
|
Baltimore, MD | Delaware | ||
SCI Holdings Corporation
|
Baltimore, MD | Virginia | ||
SCIC Properties, LLC
|
Baltimore, MD | Maryland | ||
SCIC Riverwalk, LLC
|
Baltimore, MD | Maryland | ||
SCIC San Antonio II, LLC
|
Baltimore, MD | Maryland | ||
Sealion Nominees Limited
|
London, U.K. | Delaware | ||
Second Step Asset Management Company
|
Baltimore, MD | Maryland | ||
Security Pacific Capital Leasing Corporation
|
San Francisco, CA | Delaware | ||
Security Pacific EuroFinance Holdings, Inc.
|
San Francisco, CA | Delaware | ||
Security Pacific EuroFinance, Inc.
|
San Francisco, CA | Delaware | ||
Security Pacific Hong Kong Holdings Limited
|
Hong Kong, PRC | Hong Kong | ||
Security Pacific Housing Services, Inc.
|
San Diego, CA | Delaware |
35
Name | Location | Jurisdiction | ||
Security Pacific Lease Finance (Europe) Inc.
|
San Francisco, CA | Delaware | ||
Seminole Funding LLC
|
Charlotte, NC | Delaware | ||
Service-Wright Corporation
|
Washington, DC | Maryland | ||
Seville Urban Investments, LLC
|
Dallas, TX | Texas | ||
Siltex Properties Corp.
|
New York, NY | Delaware | ||
Silver Peak REIT, Inc.
|
Charlotte, NC | Delaware | ||
Silverado I BT
|
Charlotte, NC | Nevada | ||
Silvertree Australian Investments Pty Limited
|
Sydney, New South Wales, Australia | Australia | ||
Silverwood (FP) Limited
|
London, U.K. | Cayman Islands | ||
Sirios Access LLC
|
New York, NY | Delaware | ||
Sirios Access Ltd.
|
New York, NY | Cayman Islands | ||
Sky Financial Securitization Corp. VI
|
Dover, DE | Delaware | ||
Sky Financial Securitization Corp. VII
|
Dover, DE | Delaware | ||
Smith Bros Limited
|
London, U.K. | England | ||
Smith Bros Nominees Limited
|
London, U.K. | England | ||
Smith Bros Participations Limited
|
London, U.K. | England | ||
Smother, LLC
|
San Francisco, CA | Delaware | ||
SNC Farringdon International (Holdings) BV
|
Amsterdam, The Netherlands | Netherlands | ||
SNC International (Holdings) Limited
|
London, U.K. | England | ||
SNC Securities Limited
|
London, U.K. | England | ||
SNCFE Limited
|
Hong Kong, PRC | Hong Kong | ||
Sofia II, LLC
|
New York, NY | Delaware | ||
Solimar Shipping Limited
|
London, U.K. | England & Wales | ||
SOP M Corp.
|
Baltimore, MD | Maryland | ||
South Charles Capital Partners I, L.P.
|
Baltimore, MD | Delaware | ||
South Charles Investment Corporation
|
Baltimore, MD | Georgia | ||
South Point Inc.
|
New York, NY | Delaware | ||
Southam Lane Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Southport Investments, LLC
|
Charlotte, NC | North Carolina | ||
Southstar Holding Corp.
|
New York, NY | Delaware | ||
Southstar I, LLC
|
New York, NY | Delaware | ||
Southstar II, LLC
|
New York, NY | Delaware | ||
Southstar III, LLC
|
New York, NY | Delaware | ||
Southstar IV, LLC
|
New York, NY | Delaware | ||
Southstar V, LLC
|
New York, NY | Delaware | ||
Sovran Capital Management Corporation
|
Richmond, VA | Virginia | ||
Special Services Asset Management Company
|
Chicago, IL | Illinois | ||
Specialized Lending, LLC
|
Dallas, TX | Delaware | ||
Spectrum Mortgage Company, Inc.
|
Princeton, NJ | New Jersey | ||
SphinX Access, LLC
|
New York, NY | Delaware | ||
SphinX Access, Ltd.
|
New York, NY | Cayman Islands | ||
Spring Valley Management LLC
|
Charlotte, NC | Delaware | ||
Spruce Bay Limited
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
SPV Colombia I LLC
|
New York, NY | Delaware | ||
SPV Colombia II LLC
|
New York, NY | Delaware | ||
SRF 2000, Inc.
|
Charlotte, NC | Delaware | ||
Stamford Fidelity Realty Company, Inc., The
|
Fairfield, CT | Connecticut | ||
Standard Federal Bank Community Development Corporation
|
Chicago, IL | Michigan | ||
Stanton Road Housing LLC
|
Washington, DC | District of Columbia | ||
Stanwich Loan Funding LLC
|
Charlotte, NC | Delaware | ||
Steers Trust Series 2005-A
|
New York, NY | Delaware | ||
Steers Trust Series 2005-B
|
New York, NY | Delaware | ||
Steers Trust Series 2007-A
|
New York, NY | Delaware | ||
Steppington/Dallas, Inc.
|
Dallas, TX | Texas |
36
37
Name | Location | Jurisdiction | ||
UBOC Guaranteed Tax Credit Fund VIII, L.L.C.
|
Walnut Creek, CA | California | ||
Ulysses Leasing Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
Union Realty and Securities Company
|
St. Louis, MO | Missouri | ||
Urban Mecca I, LLC
|
Atlanta, GA | Georgia | ||
UST Private Fund Solutions, LLC
|
Boston, MA | Delaware | ||
V. Funds Limited
|
New York, NY | Cayman Islands | ||
Valley Energy E&P Investments, LLC
|
Houston, TX | Delaware | ||
Valley Energy Investment Fund International, L.P.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Valley Energy Investment Fund U.S., L.P.
|
Houston, TX | Delaware | ||
Valley Energy Investment Holdings (Mauritius) Limited
|
Port Louis, Mauritius | Mauritius | ||
Varese Holdings S.ar.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
Venco, B.V.
|
George Town, Grand Cayman, Cayman Is. | Cayman Islands | ||
Vendcrown Limited
|
Epsom, United Kingdom | England | ||
Venus 1, LLC
|
New York, NY | Delaware | ||
Vercoe Insurance Agency, Inc.
|
Pennington, NJ | Ohio | ||
Verdot VI, LLC
|
New York, NY | Delaware | ||
Vernon Park LLC
|
Charlotte, NC | Delaware | ||
Victoria V, LLC
|
New York, NY | Delaware | ||
Viewpointe Archive Services, L.L.C.
|
Charlotte, NC | Delaware | ||
Villages Urban Investments, LLC
|
Phoenix, AZ | Arizona | ||
Washington Mill Lofts LLC
|
Boston, MA | Massachusetts | ||
Washington Mill Manager LLC
|
Boston, MA | Massachusetts | ||
Washoe Asset Management Company
|
Reno, NV | Delaware | ||
Washoe Asset Management Company II
|
Reno, NV | Delaware | ||
Washoe Asset Management Company IV
|
Reno, NV | Delaware | ||
Waterville Funding LLC
|
Charlotte, NC | Delaware | ||
Wave Lending Holdings Limited
|
London, U.K. | England & Wales | ||
Wave Lending Limited
|
London, U.K. | England | ||
Wave Mortgages Limited
|
London, U.K. | England | ||
Waverly Partners Inc.
|
New York, NY | Delaware | ||
Waxhaw Park Investments LLC
|
Charlotte, NC | Delaware | ||
WCH Limited Partnership
|
Dallas, TX | Texas | ||
WD Georgia LLC
|
New York, NY | Georgia | ||
WD South Carolina, LLC
|
New York, NY | South Carolina | ||
Wellington Land Company, Inc.
|
Baltimore, MD | Delaware | ||
Wellington Park/Lewisville, Inc.
|
Dallas, TX | Texas | ||
Wendover Lane LLC
|
Charlotte, NC | Delaware | ||
West Trade, LLC
|
Charlotte, NC | North Carolina | ||
West Trade/Sycamore Street, LLC
|
Charlotte, NC | North Carolina | ||
Westhill Investments Limited
|
St. Helier, Jersey, Channel Islands | Jersey | ||
Westminster Properties, Inc.
|
Providence, RI | Delaware | ||
Westquay Investments S.a r.l.
|
Luxembourg, Luxembourg | Luxembourg | ||
WFC Air Inc.
|
New York, NY | Delaware | ||
WH/DFW Land CO.
|
New York, NY | Texas | ||
Whitby Capital Ireland Limited
|
Dublin, Ireland | Ireland | ||
White Ridge Investments Limited
|
London, U.K. | England & Wales | ||
White Rock Lane LLC
|
Charlotte, NC | Delaware | ||
White Springs LLC
|
Charlotte, NC | Delaware | ||
Wickliffe A Corp.
|
Baltimore, MD | Virginia | ||
William V, LLC
|
New York, NY | Delaware | ||
Willowbrook Funding LLC
|
Charlotte, NC | Delaware | ||
Willows SA Holdings, LP
|
Dallas, TX | Texas | ||
Windeluxe Company Limited
|
Chester, England | United Kingdom | ||
WM Developer LLC
|
Boston, MA | Massachusetts |
38
Name | Location | Jurisdiction | ||
WM Lofts LLC
|
Boston, MA | Massachusetts | ||
WM Master Tenant LLC
|
Boston, MA | Massachusetts | ||
Worthington Avenue, LLC
|
Charlotte, NC | North Carolina | ||
WOW! Mortgages & Loans Limited
|
London, U.K. | England | ||
Y.K. Tokyo Portfolio Investment
|
Tokyo, Japan | Japan | ||
YK NB Estate
|
Tokyo, Japan | Japan | ||
YK Poseidon Capital
|
Tokyo, Japan | Japan | ||
Yong Tai Asset Management Company Limited
|
Taipei, Taiwan | Taiwan | ||
York Access, LLC
|
New York, NY | Delaware | ||
York Acces II, LLC
|
New York, NY | Delaware | ||
York Access, Ltd.
|
New York, NY | Cayman Islands | ||
York Total Access LLC
|
New York, NY | Delaware | ||
York Total Access II LLC
|
New York, NY | Delaware | ||
York Total Access III LLC
|
New York, NY | Delaware | ||
York Total Access LTD
|
New York, NY | Cayman Islands | ||
York Total Access II LTD
|
New York, NY | Cayman Islands | ||
YT West Tower Holdings Limited
|
Grand Cayman, Cayman Islands | Cayman Islands | ||
ZAR Sovereign Bond Investments LP
|
New York, NY | Delaware | ||
Zentac Productions, Inc.
|
San Francisco, CA | Delaware | ||
Zeus Recovery Fund SA
|
Luxembourg, Luxembourg | Luxembourg | ||
Zeus Trading LLC
|
Charlotte, NC | Delaware |
39
| the Registration Statements on Form S-3 (Nos. 333-158663; 333-155381; 333-152418; 333-133852; 333-112708; 333-123714; 333-70984; 333-15375; 333-18273; 333-97157; 333-97197; 333-83503; 333-07229; 333-51367; 033-57533; 033-30717; 033-49881; 333-13811; 333-47222; 333-64450; and 333-104151); | |
| the Registration Statements on Form S-8 (Nos. 333-163002; 333-157085; 333-133566; 333-121513; 333-69849; 333-81810; 333-53664; 333-102043; 333-102852; 333-65209; 033-45279; 002-80406; 333-02875; 033-60695; 333-58657; and 333-167797); | |
| and the Post-Effective Amendments on Form S-8 to Registration Statements on Form S-4 (Nos. 333-153771; 333-149204; 333-127124; 333-110924; 033-43125; 033-55145; 033-63351; 033-62069; 033-62208; 333-16189; 333-60553; and 333-40515) |
BANK OF AMERICA CORPORATION
|
||||
By: | /s/ Brian T. Moynihan | |||
Brian T. Moynihan | ||||
Chief Executive Officer and President | ||||
Signature | Title | Date | ||
|
||||
/s/ Brian T. Moynihan
|
Chief Executive Officer,
President and Director (Principal Executive Officer) |
February 25, 2011 | ||
|
||||
/s/ Charles H. Noski
|
Chief Financial Officer
(Principal Financial Officer) |
February 25, 2011 | ||
|
||||
/s/ Neil A. Cotty
|
Chief Accounting Officer
(Principal Accounting Officer) |
February 25, 2011 | ||
|
||||
/s/ Susan S. Bies
|
Director | February 25, 2011 | ||
|
||||
/s/ William P. Boardman
|
Director | February 25, 2011 | ||
|
||||
/s/ Frank P. Bramble, Sr.
|
Director | February 25, 2011 | ||
|
||||
/s/ Virgis W. Colbert
|
Director | February 25, 2011 | ||
|
||||
/s/ Charles K. Gifford
|
Director | February 25, 2011 | ||
|
||||
/s/ Charles O. Holliday, Jr.
|
Director | February 25, 2011 | ||
|
||||
/s/ D. Paul Jones, Jr.
|
Director | February 25, 2011 | ||
|
||||
/s/ Monica C. Lozano
|
Director | February 25, 2011 |
Signature | Title | Date | ||
/s/ Thomas J. May
|
Director | February 25, 2011 | ||
|
||||
/s/ Donald E. Powell
|
Director | February 25, 2011 | ||
|
||||
/s/ Charles O. Rossotti
|
Director | February 25, 2011 | ||
|
||||
/s/ Robert W. Scully
|
Director | February 25, 2011 |
/s/ JENNIFER E. BENNETT | ||||
Assistant Secretary | ||||
1. | I have reviewed this Annual Report on Form 10-K of Bank of America Corporation; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: | |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and | |
5. | The registrants other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): | |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Brian T. Moynihan | ||||
Brian T. Moynihan | ||||
Chief Executive Officer
and President |
||||
1. | I have reviewed this Annual Report on Form 10-K of Bank of America Corporation; | |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; | |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; | |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: | |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | |
c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and | |
5. | The registrants other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): | |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and | |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Charles H. Noski | ||||
Charles H. Noski | ||||
Chief Financial Officer | ||||
(1) | I am the Chief Executive Officer of Bank of America Corporation (the Registrant). |
(2) | I hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that |
| the Annual Report on Form 10-K of the Registrant for the year ended December 31, 2010 (the periodic report) containing financial statements fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and | ||
| the information contained in the periodic report fairly presents, in all material respects, the financial condition and results of operations of the Registrant as of, and for, the periods presented. |
/s/ Brian T. Moynihan | ||||
Brian T. Moynihan | ||||
Chief Executive Officer and President | ||||
(1) | I am the Chief Financial Officer of Bank of America Corporation (the Registrant). |
(2) | I hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that |
| The Annual Report on Form 10-K of the Registrant for the year ended December 31, 2010 (the periodic report) containing financial statements fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and | ||
| the information contained in the periodic report fairly presents, in all material respects, the financial condition and results of operations of the Registrant as of, and for, the periods presented. |
/s/ Charles H. Noski | ||||
Charles H. Noski | ||||
Chief Financial Officer | ||||