Bank Of America Corp (BAC) Financial News - Europe’s Banks Rise as ECB Signals It May Buy Italian Bonds
Bank Of America Corp (BAC)
Europe’s Banks Rise as ECB Signals It May Buy Italian Bonds
2011-08-08 05:34:43
Quote: in Milan trading and and Banca Carige rose 6.8 percent to
1.35 euros, as the 46-member Bloomberg Europe 500 Banks Index
gained 2.7 percent.
The index dropped 7.5 percent last week as yields on
Italian, Spanish and Belgian government debt surged amid
speculation European Union leaders will struggle to avert the
euro area’s first default. Trichet last week offered banks
unlimited money for six months and extended existing liquidity
measures to quell concern that southern European lenders may
struggle to borrow in the debt markets.
Spain’s attempts to reduce their budget deficits.
JPMorgan Chase & Co. (JPM)
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Bank of America Corporation, through its subsidiaries, provides banking and financial services to individuals, small- and middle-market businesses, corporations, and governments primarily in the United States and internationally. The company?s Deposits segment generates savings accounts, money market savings accounts, certificate of deposits and IRAs, and checking accounts; and Global Card Services segment provides the U.S. consumer and business card, consumer lending, international card and debit card services. Its Home Loans & Insurance segment offers fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, reverse mortgages, home equity lines of credit, and home equity loans, as well as property, casualty, life, disability, and credit insurance. The company?s Global Commercial Banking segment provides commercial loans and commitment facilities, real estate lending, leasing, trade finance, short-term credit, asset-based lending, and indirect consumer loans; and capital management and treasury solutions, such as treasury management, foreign exchange, and short-term investing options. Its Global Banking & Markets segment provides financial products, advisory services, financing, securities clearing, settlement, and custody services; debt and equity underwriting and distribution, merger-related advisory services, and risk management products; and integrated working capital management and treasury solutions. The company?s Global Wealth & Investment Management segment offers advisory services, team-based investment advice and guidance, brokerage services, and wealth management solutions, as well as retirement services. Bank of America Corporation serves customers through a network of approximately 5,900 banking centers and 18,000 automated teller machines. The company was founded in 1874 and is based in Charlotte, North Carolina.
