Bank of America (BAC) 10-Q 6 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Income Interest Ba

Statement Of Income Interest Based Revenue (USD $)
In Millions, except Share data in Thousands	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Interest income
Interest and fees on loans and leases	$11,620	$14,261	$37,298	$41,797
Interest on debt securities	2,975	3,621	10,088	9,295
Federal funds sold and securities borrowed or purchased under agreements to resell	722	912	2,567	2,920
Trading account assets	1,843	2,344	6,223	6,937
Other interest income	1,363	1,058	4,095	3,133
Total interest income	18,523	22,196	60,271	64,082
Interest expense
Deposits	1,710	3,846	6,335	11,954
Short-term borrowings	1,237	3,223	4,854	10,452
Trading account liabilities	455	661	1,484	2,250
Long-term debt	3,698	2,824	12,048	7,172
Total interest expense	7,100	10,554	24,721	31,828
Net interest income	11,423	11,642	35,550	32,254
Noninterest income
Card income	1,557	3,122	6,571	10,212
Service charges	3,020	2,722	8,282	7,757
Investment and brokerage services	2,948	1,238	8,905	3,900
Investment banking income	1,254	474	3,955	1,645
Equity investment income (loss)	843	(316)	7,988	1,330
Trading account profits (losses)	3,395	(384)	10,760	(1,810)
Mortgage banking income	1,298	1,674	7,139	2,564
Insurance income	707	678	2,057	1,092
Gains on sales of debt securities	1,554	10	3,684	362
Other income (loss)	(1,167)	(317)	1,870	(206)
Other-than-temporary impairment losses on AFS debt securities:
Total other-than-temporary impairment losses	(847)	(922)	(2,671)	(1,998)
Less: Portion of other-than-temporary impairment losses recognized in OCI	50	0	477	0
Net impairment losses recognized in earnings on AFS debt securities	(797)	(922)	(2,194)	(1,998)
Total noninterest income	14,612	7,979	59,017	24,848
Total revenue, net of interest expense	26,035	19,621	94,567	57,102
Provision for credit losses	11,705	6,450	38,460	18,290
Noninterest expense
Personnel	7,613	5,198	24,171	14,344
Occupancy	1,220	926	3,567	2,623
Equipment	617	440	1,855	1,208
Marketing	470	605	1,490	1,813
Professional fees	562	424	1,511	1,071
Amortization of intangibles	510	464	1,546	1,357
Data processing	592	755	1,861	1,905
Telecommunications	361	288	1,033	814
Other general operating	3,767	2,313	11,106	4,818
Merger and restructuring charges	594	247	2,188	629
Total noninterest expense	16,306	11,660	50,328	30,582
Income (loss) before income taxes	(1,976)	1,511	5,779	8,230
Income tax expense (benefit)	(975)	334	(691)	2,433
Net income (loss)	(1,001)	1,177	6,470	5,797
Preferred stock dividends	1,240	473	3,478	849
Net income (loss) applicable to common shareholders	($2,241)	$704	$2,992	$4,948
Per common share information
Earnings (loss)	-0.26	0.15	0.39	1.09
Diluted earnings (loss)	-0.26	0.15	0.39	1.09
Dividends paid	0.01	0.64	0.03	1.92
Average common shares issued and outstanding (in thousands)	8,633,834	4,543,963	7,423,341	4,469,517
Average diluted common shares issued and outstanding (in thousands)	8,633,834	4,547,578	7,449,911	4,477,994

Statement Of Financial Position

Statement Of Financial Position Unclassified - Deposit Based Operations (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Dec. 31, 2008
Assets
Cash and cash equivalents	$152,412	$32,857
Time deposits placed and other short-term investments	22,992	9,570
Federal funds sold and securities borrowed or purchased under agreements to resell (includes $66,218 and $2,330 measured at fair value and $187,634 and $82,099 pledged as collateral)	187,761	82,478
Trading account assets (includes $55,151 and $69,348 pledged as collateral)	204,838	134,315
Derivative assets	94,855	62,252
Debt securities:
Available-for-sale (includes $99,615 and $158,939 pledged as collateral)	247,200	276,904
Held-to-maturity, at cost (fair value - $7,879 and $685)	9,545	685
Total debt securities	256,745	277,589
Loans and leases (includes $6,197 and $5,413 measured at fair value and $117,523 and $166,891 pledged as collateral)	914,266	931,446
Allowance for loan and lease losses	(35,832)	(23,071)
Loans and leases, net of allowance	878,434	908,375
Premises and equipment, net	15,373	13,161
Mortgage servicing rights (includes $17,539 and $12,733 measured at fair value)	17,850	13,056
Goodwill	86,009	81,934
Intangible assets	12,715	8,535
Loans held-for-sale (includes $28,803 and $18,964 measured at fair value)	40,124	31,454
Other assets (includes $63,666 and $55,113 measured at fair value)	280,935	162,367
Total assets	2,251,043	1,817,943
Deposits in domestic offices:
Noninterest-bearing	246,729	213,994
Interest-bearing (includes $1,652 and $1,717 measured at fair value)	652,730	576,938
Deposits in foreign offices:
Noninterest-bearing	4,889	4,004
Interest-bearing	70,551	88,061
Total deposits	974,899	882,997
Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $51,804 measured at fair value at September 30, 2009)	249,578	206,598
Trading account liabilities	71,672	51,723
Derivative liabilities	52,624	30,709
Commercial paper and other short-term borrowings (includes $568 measured at fair value at September 30, 2009)	62,280	158,056
Accrued expenses and other liabilities (includes $17,489 and $7,542 measured at fair value and $1,567 and $421 of reserve for unfunded lending commitments)	126,019	42,516
Long-term debt (includes $43,967 measured at fair value at September 30, 2009)	456,288	268,292
Total liabilities	1,993,360	1,640,891
Commitments and contingencies (Note 9 - Variable Interest Entities and Note 12 - Commitments and Contingencies)	-	-
Shareholders' equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 5,760,660 and 8,202,042 shares	58,840	37,701
Common stock and additional paid-in capital, $0.01 par value; authorized - 10,000,000,000 shares; issued and outstanding - 8,650,314,133 and 5,017,435,592 shares	128,823	76,766
Retained earnings	76,881	73,823
Accumulated other comprehensive income (loss)	(6,705)	(10,825)
Other	(156)	(413)
Total shareholders' equity	257,683	177,052
Total liabilities and shareholders' equity	$2,251,043	$1,817,943

1_Statement Of Financial Positi

Statement Of Financial Position Unclassified - Deposit Based Operations (Parenthetical) (USD $)
In Millions, except Share data	Sep. 30, 2009	Dec. 31, 2008
Federal funds sold and securities borrowed or purchased under agreements to resell, measured at fair value	$66,218	$2,330
Federal funds sold and securities borrowed or purchased under agreements to resell, pledged as collateral	187,634	82,099
Trading account assets, pledged as collateral	55,151	69,348
Available-for-sale, pledged as collateral	99,615	158,939
Held-to-maturity, at cost, fair value	7,879	685
Loans and leases, measured at fair value	6,197	5,413
Loans and leases, pledged as collateral	117,523	166,891
Mortgage servicing rights, measured at fair value	17,539	12,733
Loans held-for-sale, measured at fair value	28,803	18,964
Other assets, measured at fair value	63,666	55,113
Interest-bearing, measured at fair value	1,652	1,717
Federal funds purchased and securities loaned or sold under agreements to repurchase, measured at fair value	51,804	0
Commercial paper and other short-term borrowings, measured at fair value	568	0
Accrued expenses and other liabilities, measured at fair value	17,489	7,542
Accrued expenses and other liabilities, reserve for unfunded lending commitments	1,567	421
Long-term debt, measured at fair value	$43,967	$0
Preferred stock, par value	0.01	0.01
Preferred stock, authorized shares	100,000,000	100,000,000
Preferred stock, issued shares	5,760,660	8,202,042
Preferred stock, outstanding shares	5,760,660	8,202,042
Common stock, par value	0.01	0.01
Common stock, authorized shares	10,000,000,000	10,000,000,000
Common stock, issued shares	8,650,314,133	5,017,435,592
Common stock, outstanding shares	8,650,314,133	5,017,435,592

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions, except Share data in Thousands	Preferred Stock				Common Stock and Additional Paid-in Capital Amount		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Other	Total
Beginning Balance at Dec. 31, 2007			4,437,885
Beginning Balance at Dec. 31, 2007	$4,409				$60,328		$81,393		$1,129	[1]	($456)	$146,803
Net income							5,797					5,797
Net changes in available-for-sale debt and marketable equity securities									(7,054)	[1]		(7,054)
Net changes in foreign currency translation adjustments									(242)	[1]		(242)
Net changes in derivatives									485	[1]		485
Employee benefit plan adjustments									35	[1]		35
Dividends paid:
Common							(8,646)					(8,646)
Preferred							(849)					(849)
Issuance of preferred stock	19,742											19,742
Stock issued in acquisition					4,201	[4]						4,201	[4]
Stock issued in acquisition			106,776	[4]
Common stock issued under employee plans and related tax effects			17,394
Common stock issued under employee plans and related tax effects					832						(65)	767
Ending Balance at Sep. 30, 2008	24,151				65,361		77,695		(5,647)	[1]	(521)	161,039
Ending Balance at Sep. 30, 2008			4,562,055
Dividends paid:
Beginning Balance at Dec. 31, 2008			5,017,436
Beginning Balance at Dec. 31, 2008	37,701				76,766		73,823		(10,825)	[1]	(413)	177,052
Cumulative adjustment for accounting change - Other-than-temporary impairments on debt securities							71	[2]	(71)	[1],[2]		0	[2]
Net income							6,470					6,470
Net changes in available-for-sale debt and marketable equity securities									3,110	[1]		3,110
Net changes in foreign currency translation adjustments									26	[1]		26
Net changes in derivatives									721	[1]		721
Employee benefit plan adjustments									334	[1]		334
Dividends paid:
Common							(238)					(238)
Preferred							(3,295)	[3]				(3,295)	[3]
Issuance of preferred stock	26,800	[5]			3,200	[5]						30,000	[5]
Stock issued in acquisition	8,605				20,504							29,109
Stock issued in acquisition			1,375,476
Issuance of common stock			1,250,000
Issuance of common stock					13,468							13,468
Exchange of preferred stock	(14,797)				14,221		576					0
Exchange of preferred stock			999,935
Common stock issued under employee plans and related tax effects			7,467
Common stock issued under employee plans and related tax effects					664						257	921
Other	531						(526)					5
Ending Balance at Sep. 30, 2009	$58,840				$128,823		$76,881		($6,705)	[1]	($156)	$257,683
Ending Balance at Sep. 30, 2009			8,650,314
[1]Amounts shown are net-of-tax. For additional information on accumulated OCI, see Note 13 - Shareholders' Equity and Earnings Per Common Share to the Consolidated Financial Statements.
[2]Effective January 1, 2009, the Corporation adopted new accounting guidance related to the recognition of other-than-temporary impairment charges on debt securities. For additional information on the adoption of this accounting pronouncement, see Note 1 - Summary of Significant Accounting Principles and Note 5 - Securities to the Consolidated Financial Statements. Amounts shown are net-of-tax.
[3]Excludes $233 million of third quarter 2009 cumulative preferred dividends not declared as of September 30, 2009 and $526 million of accretion of discounts on preferred stock.
[4]Includes adjustments for the fair value of certain Countrywide stock-based compensation awards of 507 thousand shares and $86 million.
[5]Proceeds from the issuance of Series Q and Series R Preferred Stock were allocated to the preferred stock and warrants on a relative fair value basis. For more information, see Note 13 - Shareholders' Equity and Earnings Per Common Share to the Consolidated Financial Statements.

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect Deposit Based Operations (USD $)
In Millions	9 Months Ended Sep. 30, 2009		9 Months Ended Sep. 30, 2008
Operating activities
Net income	$6,470		$5,797
Reconciliation of net income to net cash provided by operating activities:
Provision for credit losses	38,460		18,290
Gains on sales of debt securities	(3,684)		(362)
Depreciation and premises improvements amortization	1,755		1,074
Amortization of intangibles	1,546		1,357
Deferred income tax expense (benefit)	3,560		(1,429)
Net decrease (increase) in trading and derivative instruments	42,827		(17,963)
Net decrease in other assets	21,970		6,422
Net (decrease) increase in accrued expenses and other liabilities	(20,945)		17,987
Other operating activities, net	5,718		103
Net cash provided by operating activities	97,677		31,276
Investing activities
Net decrease in time deposits placed and other short-term investments	20,291		64
Net decrease in federal funds sold and securities borrowed or purchased under agreements to resell	33,541		49,163
Proceeds from sales of available-for-sale debt securities	122,756		69,218
Proceeds from paydowns and maturities of available-for-sale debt securities	47,238		18,825
Purchases of available-for-sale debt securities	(82,377)		(109,219)
Proceeds from maturities of held-to-maturity debt securities	1,831		176
Purchases of held-to-maturity debt securities	(2,677)		(840)
Proceeds from sales of loans and leases	6,565		42,209
Other changes in loans and leases, net	19,221		(62,464)
Net purchases of premises and equipment	(1,532)		(1,526)
Proceeds from sales of foreclosed properties	1,352		506
Cash received upon acquisition, net	31,804		6,650
Other investing activities, net	9,812		(214)
Net cash provided by investing activities	207,825		12,548
Financing activities
Net (decrease) increase in deposits	(6,205)		5,884
Net decrease in federal funds purchased and securities loaned or sold under agreements to repurchase	(68,600)		(15,398)
Net decrease in commercial paper and other short-term borrowings	(133,672)		(45,277)
Proceeds from issuance of long-term debt	62,809		24,038
Retirement of long-term debt	(80,302)		(26,559)
Proceeds from issuance of preferred stock	30,000		19,742
Proceeds from issuance of common stock	13,468		229
Cash dividends paid	(3,533)		(9,495)
Excess tax benefits of share-based payments	0		34
Other financing activities, net	(37)		(85)
Net cash used in financing activities	(186,072)		(46,887)
Effect of exchange rate changes on cash and cash equivalents	125		(127)
Net increase (decrease) in cash and cash equivalents	119,555	[1]	(3,190)	[1]
Cash and cash equivalents at January 1	32,857		42,531
Cash and cash equivalents at September 30	$152,412		$39,341
[1]The Corporation securitized $11.6 billion of residential mortgage loans into mortgage-backed securities which were retained by the Corporation during the nine months ended September 30, 2009. During the nine months ended September 30, 2009, the Corporation exchanged $14.8 billion of preferred stock by issuing 1.0 billion shares of common stock valued at $11.5 billion. During the nine months ended September 30, 2009, the Corporation transferred credit card loans of $8.5 billion and the related allowance for loan and lease losses of $750 million in exchange for a $7.8 billion held-to-maturity debt security that was issued by the Corporations U.S. Credit Card Securitization Trust. During the nine months ended September 30, 2009, the Corporation transferred $1.7 billion of ARS from trading account assets to AFS debt securities. The fair values of noncash assets acquired and liabilities assumed in the Merrill Lynch acquisition were $618.9 billion and $626.4 billion. Approximately 1.4 billion shares of common stock valued at approximately $20.5 billion and 376 thousand shares of preferred stock valued at $8.6 billion were issued in connection with the Merrill Lynch acquisition. During the nine months ended September 30, 2008, the Corporation reclassified $12.6 billion of AFS debt securities to trading account assets in connection with the Countrywide acquisition. The Corporation securitized $23.4 billion of residential mortgage loans into mortgage-backed securities and $4.9 billion of automobile loans into asset-backed securities which were retained by the Corporation during the nine months ended September 30, 2008. The fair values of noncash assets acquired and liabilities assumed in the Countrywide acquisition were $157.4 billion and $157.8 billion. Approximately 107 million shares of common stock, valued at approximately $4.2 billion were issued in connection with the Countrywide acquisition.

NOTE 1 - Summary of Significant

NOTE 1 - Summary of Significant Accounting Principles
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 1 - Summary of Significant Accounting Principles	NOTE 1 Summary of Significant Accounting Principles On January 1, 2009, Bank of America Corporation and its subsidiaries (the Corporation) acquired all of the outstanding shares of Merrill Lynch Co., Inc. (Merrill Lynch) through its merger with a subsidiary of the Corporation in exchange for common and preferred stock with a value of $29.1 billion. On July 1, 2008, the Corporation acquired all of the outstanding shares of Countrywide Financial Corporation (Countrywide) through its merger with a subsidiary of the Corporation in exchange for common stock with a value of $4.2 billion. Consequently, Merrill Lynchs and Countrywides results of operations were included in the Corporations results from their dates of acquisition. For more information related to the Merrill Lynch and Countrywide acquisitions, see Note 2 Merger and Restructuring Activity. The Corporation, through its banking and nonbanking subsidiaries, provides a diverse range of financial services and products throughout the U.S. and in selected international markets. At September 30, 2009, the Corporation operated its banking activities primarily under two charters: Bank of America, National Association (Bank of America, N.A.) and FIA Card Services, N.A. In addition, with the acquisition of Merrill Lynch, the Corporation acquired Merrill Lynch Bank USA and Merrill Lynch Bank Trust Co., FSB. Effective April 27, 2009, Countrywide Bank, FSB merged into Bank of America, N.A. Effective July 1, 2009, Merrill Lynch Bank USA merged into Bank of America, N.A. In addition, effective November 2, 2009, Merrill Lynch Bank Trust Co., FSB merged into Bank of America, N.A. These mergers had no impact on the Consolidated Financial Statements of the Corporation. Principles of Consolidation and Basis of Presentation The Consolidated Financial Statements include the accounts of the Corporation and its majority-owned subsidiaries, and those variable interest entities (VIEs) where the Corporation is the primary beneficiary. All significant intercompany accounts and transactions have been eliminated. Results of operations of companies purchased are included from the dates of acquisition and for VIEs, from the dates that the Corporation became the primary beneficiary. Assets held in an agency or fiduciary capacity are not included in the Consolidated Financial Statements. The Corporation accounts for investments in companies for which it owns a voting interest of 20 percent to 50 percent and for which it has the ability to exercise significant influence over operating and financing decisions using the equity method of accounting. These investments are included in other assets and are subject to impairment testing. The Corporations proportionate share of income or loss is included in equity investment income. The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates and assumptions. These unaudited Consolidated Financial Statements should be read in c

NOTE 2 - Merger and Restructuri

NOTE 2 - Merger and Restructuring Activity
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 2 - Merger and Restructuring Activity	NOTE 2 Merger and Restructuring Activity Merrill Lynch On January 1, 2009, the Corporation acquired Merrill Lynch through its merger with a subsidiary of the Corporation in exchange for common and preferred stock with a value of $29.1 billion, creating a financial services franchise with significantly enhanced wealth management, investment banking and international capabilities. Under the terms of the merger agreement, Merrill Lynch common shareholders received 0.8595 of a share of Bank of America Corporation common stock in exchange for each share of Merrill Lynch common stock. In addition, Merrill Lynch non-convertible preferred shareholders received Bank of America Corporation preferred stock having substantially similar terms. Merrill Lynch convertible preferred stock remains outstanding and is convertible into Bank of America common stock at an equivalent exchange ratio. With the acquisition, the Corporation has one of the largest wealth management businesses in the world with approximately 15,000 financial advisors and more than $1.9 trillion in client assets. Global investment management capabilities include an economic ownership of approximately 48 percent in BlackRock, Inc. (BlackRock), a publicly traded investment management company. In addition, the acquisition adds strengths in debt and equity underwriting, sales and trading, and merger and acquisition advice, creating significant opportunities to deepen relationships with corporate and institutional clients around the globe. Merrill Lynchs results of operations were included in the Corporations results beginning January 1, 2009. The Merrill Lynch merger is being accounted for under the acquisition method of accounting. Accordingly, the purchase price was preliminarily allocated to the acquired assets and liabilities based on their estimated fair values at the Merrill Lynch acquisition date as summarized in the following table. Preliminary goodwill of $4.8 billion is calculated as the purchase premium after adjusting for the fair value of net assets acquired and represents the value expected from the synergies created from combining the Merrill Lynch wealth management and corporate and investment banking businesses with the Corporations capabilities in consumer and commercial banking as well as the economies of scale expected from combining the operations of the two companies. Merrill Lynch Preliminary Purchase Price Allocation (Dollars in billions, except per share amounts) Purchase price Merrill Lynch common shares exchanged (in millions) 1,600 Exchange ratio 0.8595 The Corporations common shares issued (in millions) 1,375 Purchase price per share of the Corporations common stock (1) $ 14.08 Total value of the Corporations common stock and cash exchanged for fractional shares $ 19.4 Merrill Lynch preferred stock (2) 8.6 Fair value of outstanding employee stock awards 1.1 Total purchase price $ 29.1 Preliminary allocation of the purchase price Merrill Lynch stockholders equity 19.9 Merrill Lynch goodwill and intangible assets (2.6) Pre-tax

NOTE 3 - Trading Account Assets

NOTE 3 - Trading Account Assets and Liabilities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 3 - Trading Account Assets and Liabilities	NOTE 3 Trading Account Assets and Liabilities The following table presents the fair values of the components of trading account assets and liabilities at September30, 2009 and December31, 2008. (Dollars in millions) September30 2009 December31 2008 Trading account assets U.S. government and agency securities (1) $ 63,982 $ 60,038 Corporate securities, trading loans and other 59,046 34,056 Equity securities 33,500 20,258 Foreign sovereign debt 29,879 13,614 Mortgage trading loans and asset-backed securities 18,431 6,349 Total trading account assets $ 204,838 $ 134,315 Trading account liabilities U.S. government and agency securities $ 25,287 $ 27,286 Equity securities 18,560 12,128 Foreign sovereign debt 20,072 7,252 Corporate securities and other 7,753 5,057 Total trading account liabilities $ 71,672 $ 51,723 (1) Includes $29.8 billion and $52.6 billion at September30, 2009 and December31, 2008 of government-sponsored enterprise obligations.

NOTE 4 - Derivatives

NOTE 4 - Derivatives
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 4 - Derivatives	NOTE 4 Derivatives The Corporation designates derivatives as trading derivatives, economic hedges, or as derivatives designated as hedging instruments under applicable GAAP. For additional information on the Corporations derivatives and hedging activities, see Note 1 Summary of Significant Accounting Principles to the Consolidated Financial Statements filed as Exhibit 99.2 to the Corporations Current Report on Form 8-K filed on May 28, 2009. Derivative Balances The Corporation enters into derivatives to facilitate client transactions, for proprietary trading purposes and to manage risk exposures. The following table identifies derivative instruments included on the Corporations Consolidated Balance Sheet in derivative assets and liabilities at September 30, 2009 and December 31, 2008. Balances are provided on a gross basis, prior to the application of the impact of counterparty and collateral netting. Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral applied. September30, 2009 Gross Derivative Assets Gross Derivative Liabilities (Dollars in billions) Contract/ Notional(1) Derivatives Used in Trading Activities and as Economic Hedges Derivatives Designated as Hedging Instruments(2) Total Derivatives Used in Trading Activities and as Economic Hedges Derivatives Designatedas Hedging Instruments(2) Total Interest rate contracts Swaps $ 48,676.6 $ 1,385.8 $ 5.8 $ 1,391.6 $ 1,349.5 $ 0.7 $ 1,350.2 Futures and forwards 8,890.7 6.4 - 6.4 7.4 0.1 7.5 Written options 2,831.4 - - - 93.4 - 93.4 Purchased options 2,591.5 92.7 - 92.7 - - - Foreign exchange contracts Swaps 669.2 28.1 5.9 34.0 32.4 0.6 33.0 Spot, futures and forwards 1,979.4 32.8 - 32.8 32.6 0.1 32.7 Written options 416.7 - - - 15.3 - 15.3 Purchased options 398.9 15.8 - 15.8 - - - Equity contracts Swaps 54.1 2.0 - 2.0 2.4 - 2.4 Futures and forwards 103.0 4.5 - 4.5 3.6 - 3.6 Written options 382.8 - - - 34.0 0.2 34.2 Purchased options 342.1 36.1 - 36.1 - - - Commodity contracts Swaps 78.1 9.5 0.1 9.6 9.0 - 9.0 Futures and forwards 2,092.1 14.8 - 14.8 13.6 - 13.6 Written options 98.4 - - - 8.1 - 8.1 Purchased options 95.8 7.7 - 7.7 - - - Credit derivatives

NOTE 5 - Securities

NOTE 5 - Securities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 5 - Securities	NOTE 5 Securities The amortized cost, gross unrealized gains and losses, and fair value of AFS debt and marketable equity securities at September30, 2009 and December31, 2008 were: (Dollars in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale debt securities, September30, 2009 U.S. Treasury securities and agency debentures $ 26,562 $ 439 $ (32 ) $ 26,969 Mortgage-backed securities: Agency MBSs 120,653 3,007 (165 ) 123,495 Agency collateralized mortgage obligations 16,012 243 (135 ) 16,120 Non-agency MBSs 44,343 1,864 (5,253 ) 40,954 Foreign securities 5,017 40 (897 ) 4,160 Corporate/Agency bonds 5,853 156 (122 ) 5,887 Other taxable securities (1) 18,844 300 (505 ) 18,639 Total taxable securities 237,284 6,049 (7,109 ) 236,224 Tax-exempt securities 10,939 209 (172 ) 10,976 Total available-for-sale debt securities $ 248,223 $ 6,258 $ (7,281 ) $ 247,200 Available-for-sale marketable equity securities (2) $ 6,189 $ 3,172 $ (612 ) $ 8,749 Available-for-sale debt securities, December31, 2008 U.S. Treasury securities and agency debentures $ 4,540 $ 121 $ (14 ) $ 4,647 Mortgage-backed securities: Agency MBSs 191,913 3,064 (146 ) 194,831 Non-agency MBSs 43,224 860 (9,337 ) 34,747 Foreign securities 5,675 6 (678 ) 5,003 Corporate/Agency bonds 5,560 31 (1,022 ) 4,569 Other taxable securities (1) 24,832 11 (1,300 ) 23,543 Total taxable securities 275,744 4,093 (12,497 ) 267,340 Tax-exempt securities 10,501 44 (981 ) 9,564 Total available-for-sale debt securities $ 286,245 $ 4,137 $ (13,478 ) $ 276,904 Available-for-sale marketable equity securities (2) $ 18,892 $ 7,717 $ (1,537 ) $ 25,072 (1) Includes ABS. (2) Represents those AFS marketable equity securities that are recorded in other assets on the Corporations Consolidated Balance Sheet. At September 30, 2009, the amortized cost and fair value of held-to-maturity debt securities were $9.5 billion and $7.9 billion, which include asset-backed securities that were issued by the Corporations credit card securitization trust and retained by the Corporation with an amortized cost of $6.9 billion and a fair value of $5.3 billion. At December 31, 2008, both the amortized cost and fair value of held-to-maturity debt securities were $685 million. The accumulated net unrealized gains (losses) on AFS debt and marketable equity securities included in accumulated OCI were $(596) million and $1.6 billion, net of the related income tax expense (benefit) of $(427) million and $947 million at September 30, 2009. For more information on accumulated OCI see Note 13 Shareholders E

NOTE 6 - Outstanding Loans and

NOTE 6 - Outstanding Loans and Leases
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 6 - Outstanding Loans and Leases	NOTE 6 Outstanding Loans and Leases Outstanding loans and leases at September30, 2009 and December31, 2008 were: (Dollars in millions) September30 2009 December31 2008 Consumer Residential mortgage (1) $ 238,921 $ 248,063 Home equity 152,039 152,483 Discontinued real estate (2) 15,460 19,981 Credit card domestic 49,221 64,128 Credit card foreign 20,985 17,146 Direct/Indirect consumer (3) 98,366 83,436 Other consumer (4) 3,264 3,442 Total consumer 578,256 588,679 Commercial Commercial domestic (5) 207,607 219,233 Commercial real estate (6) 72,662 64,701 Commercial lease financing 21,910 22,400 Commercial foreign 27,634 31,020 Total commercial loans 329,813 337,354 Commercial loans measured at fair value (7) 6,197 5,413 Total commercial 336,010 342,767 Total loans and leases $ 914,266 $ 931,446 (1) Includes foreign residential mortgages of $533 million at September30, 2009. The Corporation did not have any foreign residential mortgage loans at December31, 2008. (2) Includes $13.9 billion and $18.2 billion of pay option loans and $1.5 billion and $1.8 billion of subprime loans at September30, 2009 and December31, 2008 obtained as part of the acquisition of Countrywide. The Corporation no longer originates these products. (3) Includes dealer financial services loans of $41.4 billion and $40.1 billion, consumer lending loans of $21.9 billion and $28.2 billion, securities-based lending margin loans of $11.7 billion and $0, and foreign consumer loans of $7.9 billion and $1.8 billion at September30, 2009 and December31, 2008. (4) Includes consumer finance loans of $2.3 billion and $2.6 billion, and other foreign consumer loans of $683 million and $618 million at September30, 2009 and December31, 2008. (5) Includes small business commercial domestic loans, primarily card related, of $17.9 billion and $19.1 billion at September30, 2009 and December31, 2008. (6) Includes domestic commercial real estate loans of $69.1 billion and $63.7 billion, and foreign commercial real estate loans of $3.5 billion and $979 million at September30, 2009 and December31, 2008. (7) Certain commercial loans are measured at fair value in accordance with fair value option and include commercial domestic loans of $4.0 billion and $3.5 billion, commercial foreign loans of $2.1 billion and $1.7 billion, and commercial real estate loans of $98 million and $203 million at September30, 2009 and December31, 2008. See Note 16 Fair Value Disclosures for additional discussion of fair value for certain financial instruments. The Corporation mitigates a portion of its credit risk in the residential mortgage portfolio through cash collateralized synthetic securitizations which provide mezzanine risk protection of $2.6 billion and are designed to reimburse the Corporation in the event that losses exceed 10 bps of the original pool balance. As o

NOTE 7 - Allowance for Credit L

NOTE 7 - Allowance for Credit Losses
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 7 - Allowance for Credit Losses	NOTE 7 Allowance for Credit Losses The following table summarizes the changes in the allowance for the three and nine months ended September30, 2009 and 2008. The Corporation recorded $1.3 billion and $3.0 billion in net reserve additions during the three and nine months ended September30, 2009, specifically for the purchased impaired loan portfolio. The amount of the allowance for loan and lease losses associated with the purchased impaired loan portfolio was $3.8 billion at September30, 2009. ThreeMonthsEnded September30 NineMonthsEnded September30 (Dollars in millions) 2009 2008 2009 2008 Allowance for loan and lease losses, beginning of period $ 33,785 $ 17,130 $ 23,071 $ 11,588 Loans and leases charged off (10,059 ) (4,697 ) (26,541 ) (11,760 ) Recoveries of loans and leases previously charged off 435 341 1,274 1,070 Net charge-offs (9,624 ) (4,356 ) (25,267 ) (10,690 ) Provision for loan and lease losses 11,658 6,530 38,357 18,381 Other (1) 13 1,042 (329 ) 1,067 Allowance for loan and lease losses, September30 35,832 20,346 35,832 20,346 Reserve for unfunded lending commitments, beginning of period 1,992 507 421 518 Provision for unfunded lending commitments 47 (80 ) 103 (91 ) Other (2) (472 ) - 1,043 - Reserve for unfunded lending commitments, September30 1,567 427 1,567 427 Allowance for credit losses, September30 $ 37,399 $ 20,773 $ 37,399 $ 20,773 (1) For the nine months ended September30, 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 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. This reduction was partially offset by a $340 million increase associated with the reclassification to other assets of the December31, 2008 amount expected to be reimbursed under residential mortgage cash collateralized synthetic securitizations. (2) For the three and nine months ended September30, 2009, this amount represents the fair value of the acquired Merrill Lynch unfunded lending commitments excluding those accounted for in accordance with fair value option, net of accretion and the impact of funding previously unfunded positions.

NOTE 8 - Securitizations

NOTE 8 - Securitizations
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 8 - Securitizations	NOTE 8 Securitizations The Corporation routinely securitizes loans and debt securities. These securitizations are a source of funding for the Corporation in addition to transferring the economic risk of the loans or debt securities to third parties. In a securitization, various classes of debt securities may be issued and are generally collateralized by a single class of transferred assets which most often consist of residential mortgages, but may also include commercial mortgages, credit card receivables, home equity loans, automobile loans, municipal bonds or mortgage-backed securities. The securitized loans may be serviced by the Corporation or by third parties. With each securitization, the Corporation may retain a portion of the securities, subordinated tranches, interest-only strips, subordinated interests in accrued interest and fees on the securitized receivables, and, in some cases, overcollateralization and cash reserve accounts, all of which are called retained interests. These retained interests are recorded in other assets, AFS debt securities, trading account assets or derivative assets and are carried at fair value or amounts that approximate fair value with changes recorded in income or accumulated OCI. Changes in the fair value of credit card related interest-only strips are recorded in card income. In addition, the Corporation may enter into derivatives with the securitization trust to mitigate the trusts interest rate or foreign exchange risk. These derivatives are entered into at market terms and are generally senior in payment. The Corporation also may serve as the underwriter and distributor of the securitization, serve as the administrator of the trust, and from time to time, make markets in securities issued by the securitization trusts. For more information related to derivatives, see Note 4 Derivatives. On June 12, 2009, the FASB issued SFAS 166 and SFAS 167 which will result in the consolidation of certain QSPEs and VIEs that are not currently recorded on the Corporations Consolidated Balance Sheet. For more information on SFAS 166 and SFAS 167, see Note 1 Summary of Significant Accounting Principles. First Lien Mortgage-related Securitizations As part of its mortgage banking activities, the Corporation securitizes a portion of the residential mortgage loans it originates or purchases from third parties in conjunction with or shortly after loan closing or purchase. In addition, the Corporation may, from time to time, securitize commercial mortgages that it originates or purchases from other entities. The following tables summarize selected information related to mortgage securitizations for the three and nine months ended September 30, 2009 and 2008 and at September 30, 2009 and December 31, 2008. Residential Mortgage Non-Agency Agency Prime Subprime Alt-A Commercial Mortgage Three Months Ended September 30 (Dollars in millions) 2009 2008 2009 2008 2009 2008 2009 2008 2009 2008 Cash proceeds from new securitizations (1) $ 99,029 $ 47,184 $ -

NOTE 9 - Variable Interest Enti

NOTE 9 - Variable Interest Entities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 9 - Variable Interest Entities	NOTE 9 Variable Interest Entities In addition to the securitization vehicles described in Note 8 Securitizations and Note 18 Mortgage Servicing Rights, which are typically structured as QSPEs, the Corporation utilizes SPEs in the ordinary course of business to support its own and its customers financing and investing needs. These SPEs are typically structured as VIEs and are thus subject to consolidation by the reporting enterprise that absorbs the majority of the economic risks and rewards of the VIE. To determine whether it must consolidate a VIE, the Corporation qualitatively analyzes the design of the VIE to identify the creators of variability within the VIE, including an assessment as to the nature of the risks that are created by the assets and other contractual arrangements of the VIE, and identifies whether it will absorb a majority of that variability. On June 12, 2009, the FASB issued SFAS 166 and SFAS 167 which will result in the consolidation of certain QSPEs and VIEs that are not currently recorded on the Corporations Consolidated Balance Sheet. For more information on SFAS 166 and SFAS 167, see Note 1 Summary of Significant Accounting Principles. In addition to the VIEs discussed below, the Corporation uses VIEs such as trust preferred securities trusts in connection with its funding activities, as described in more detail in Note 12 Short-term Borrowings and Long-term Debt to the Consolidated Financial Statements filed as Exhibit 99.2 to the Corporations Current Report on Form 8-K filed on May 28, 2009. The Corporation also uses VIEs in the form of synthetic securitization vehicles to mitigate a portion of the credit risk on its residential mortgage loan portfolio as described in Note 6 Outstanding Loans and Leases. The Corporation has also provided support to or has loss exposure resulting from its involvement with other VIEs, including certain cash funds managed within GWIM, as described in more detail in Note 12 Commitments and Contingencies. The table below presents the assets and liabilities of VIEs which have been consolidated on the Corporations Consolidated Balance Sheet at September 30, 2009, total assets of consolidated VIEs at December 31, 2008, and the Corporations maximum exposure to loss resulting from its involvement with consolidated VIEs as of September 30, 2009 and December 31, 2008. The Corporations maximum exposure to loss is based on the unlikely event that all of the assets in the VIEs become worthless and incorporates not only potential losses associated with assets recorded on the Corporations Consolidated Balance Sheet but also potential losses associated with off-balance sheet commitments such as unfunded liquidity commitments and other contractual arrangements. Consolidated VIEs (Dollars in millions) Multi-Seller Conduits LoanOther Investment Vehicles CDOs Leveraged LeaseTrusts Other Vehicles Total Consolidated VIEs, September30, 2009 (1) Maximum loss exposure (2) $ 8,724 $ 8,288 $ 4,699 $ 5,815 $ 1,976 $ 29,502 Consolidated Assets (3)

NOTE 10 - Goodwill and Intangib

NOTE 10 - Goodwill and Intangible Assets
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 10 - Goodwill and Intangible Assets	NOTE 10 Goodwill and Intangible Assets The following table presents goodwill at September 30, 2009 and December 31, 2008, which includes $4.8 billion of goodwill related to the acquisition of Merrill Lynch. As discussed in more detail in Note 19 Business Segment Information, the Corporation changed its basis of presentation from three segments to six segments effective January 1, 2009 in connection with the Merrill Lynch acquisition. As a result, the reporting units to be utilized for goodwill impairment tests will be the business segments or one level below the business segments. For more information on the Merrill Lynch acquisition, see Note 2 Merger and Restructuring Activity. (Dollars in millions) September30 2009 December31 2008 Deposits $ 17,818 $ 17,805 Global Card Services 22,288 22,271 Home Loans Insurance 4,797 4,797 Global Banking 27,684 28,409 Global Markets 3,207 2,080 Global Wealth Investment Management 10,175 6,503 All Other 40 69 Total goodwill $ 86,009 $ 81,934 During the quarter ended September 30, 2009, the Corporation completed its annual goodwill impairment test on reporting unit balances as of June 30, 2009 and determined that no impairment existed. In performing the first step of the annual impairment analysis, the Corporation compared the fair value of each reporting unit to its carrying amount, including goodwill. To determine fair value, the Corporation utilized a combination of a market approach and an income approach. Based on the results of the first step test, the Corporation determined that the carrying amounts of the Home Loans Insurance and Global Card Services reporting units, including goodwill, exceeded their respective fair values. Therefore, the Corporation performed the second step of the goodwill impairment test for these reporting units as of June 30, 2009. For all other reporting units, the second step was not required as their fair value exceeded their carrying value indicating there was no impairment. In the second step, the Corporation compared the implied fair value of each reporting units goodwill with the carrying amount of that goodwill. The Corporation determined the implied fair value of goodwill for a reporting unit by assigning the fair value of the reporting unit to all of the assets and liabilities of that unit, including any unrecognized intangible assets, as if the reporting unit had been acquired in a business combination. The excess of the fair value of the reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. The Corporation estimated the fair values of the assets and liabilities of a reporting unit, consistent with the requirements of the fair value measurements accounting standard, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Based on the results of the second step test as of June 30, 2009, the Corporation determined that no goodwill impairment exis

NOTE 11 - Long-term Debt

NOTE 11 - Long-term Debt
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 11 - Long-term Debt	NOTE 11 Long-term Debt The following table presents long-term debt at September30, 2009 including long-term debt associated with the acquisition of Merrill Lynch. (Dollars in millions) September30 2009 Long-term debt issued by Merrill Lynch Co., Inc. and subsidiaries Senior debt issued by Merrill Lynch Co., Inc. $ 87,586 Senior debt issued by subsidiaries guaranteed by Merrill Lynch Co., Inc. 7,391 Senior structured notes issued by Merrill Lynch Co., Inc. 33,220 Senior structured notes issued by subsidiaries guaranteed by Merrill Lynch Co., Inc. 17,705 Subordinated debt issued by Merrill Lynch Co., Inc. 11,903 Junior subordinated notes (related to trust preferred securities) 3,546 Other subsidiary financing 3,335 Total long-term debt issued by Merrill Lynch Co., Inc. and subsidiaries (1) 164,686 Other long-term debt issued by Bank of America Corporation and subsidiaries 291,602 Total long-term debt $ 456,288 (1) Includes $81.8 billion of fixed-rate obligations and $82.9 billion of variable-rate obligations. The weighted-average interest rate for debt (excluding structured notes) issued by Merrill Lynch Co., Inc. and subsidiaries was 3.69 percent as of September 30, 2009. Including the Merrill Lynch acquisition, the Corporation has aggregate annual maturities on its long-term debt obligations of $94.5 billion maturing within one year, $62.5 billion maturing in two years, $77.0 billion maturing in three years, $34.8 billion maturing in four years, $37.2 billion maturing in five years and $150.3 billion for all years thereafter. Certain structured notes acquired in connection with the acquisition of Merrill Lynch are accounted for under the fair value option. For more information on these structured notes, see Note 16 - Fair Value Disclosures.

NOTE 12 - Commitments and Conti

NOTE 12 - Commitments and Contingencies
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 12 - Commitments and Contingencies	NOTE 12 Commitments and Contingencies In the normal course of business, the Corporation enters into a number of off-balance sheet commitments. These commitments expose the Corporation to varying degrees of credit and market risk and are subject to the same credit and market risk limitation reviews as those instruments recorded on the Corporations Consolidated Balance Sheet. Credit Extension Commitments The Corporation enters into commitments to extend credit such as loan commitments, SBLCs and commercial letters of credit to meet the financing needs of its customers. The unfunded legally binding lending commitments shown in the following table are net of amounts distributed (e.g., syndicated) to other financial institutions of $32.6 billion and $46.9 billion at September 30, 2009 and December 31, 2008. At September 30, 2009, the carrying amount of these commitments, excluding commitments measured at fair value under the fair value option, was $1.6 billion, including deferred revenue of $35 million and a reserve for unfunded legally binding lending commitments of $1.6 billion. At December 31, 2008, the comparable amounts were $454 million, $33 million and $421 million. The carrying amount of these commitments is recorded in accrued expenses and other liabilities. The table below also includes the notional value of commitments of $28.6 billion and $16.9 billion at September 30, 2009 and December 31, 2008, which are measured at fair value under the fair value option. However, the table below excludes the fair value adjustment of $1.1 billion for both periods on these commitments that was recorded in accrued expenses and other liabilities. For information regarding the Corporations loan commitments accounted for at fair value, see Note 16 Fair Value Disclosures. (Dollars in millions) Expiresin1 year or less Expiresafter1 yearthrough3 years Expiresafter3 years through 5 years Expiresafter 5 years Total Credit extension commitments, September30, 2009 Loan commitments $ 130,320 $ 178,576 $ 40,858 $ 17,771 $ 367,525 Home equity lines of credit 1,864 2,997 8,549 82,318 95,728 Standby letters of credit and financial guarantees (1) 29,708 27,223 5,701 14,971 77,603 Commercial letters of credit 1,999 69 4 1,434 3,506 Legally binding commitments (2) 163,891 208,865 55,112 116,494 544,362 Credit card lines (3) 572,403 - - - 572,403 Total credit extension commitments $ 736,294 $ 208,865 $ 55,112 $ 116,494 $ 1,116,765 Credit extension commitments, December31, 2008 Loan commitments $ 128,992 $ 120,234 $ 67,111 $ 31,200 $ 347,537 Home equity lines of credit 3,883 2,322 4,799 96,415 107,419 Standby letters of credit and financial guarantees (1) 33,350 26,090 8,328 9,812 77,580 Commercial letters of credit 2,228 29 1 1,507 3,765 Legally binding commitments (2) 16

NOTE 13 - Shareholders' Equity

NOTE 13 - Shareholders' Equity and Earnings Per Common Share
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 13 - Shareholders' Equity and Earnings Per Common Share	NOTE 13 - Shareholders Equity and Earnings Per Common Share Common Stock In January 2009, the Corporation issued 1.4 billion shares of common stock in connection with its acquisition of Merrill Lynch. For additional information regarding the Merrill Lynch acquisition, see Note 2 - Merger and Restructuring Activity. In addition, during the first quarter of 2009, the Corporation issued warrants to purchase approximately 199.1 million shares of common stock in connection with preferred stock issuances to the U.S. government. For more information, see the following preferred stock discussion. During the second quarter of 2009, the Corporation issued 1.25 billion shares of its common stock at an average price of $10.77 per share through an at-the-market issuance program resulting in gross proceeds of approximately $13.5 billion. The Corporation may repurchase shares, subject to certain restrictions, from time to time, in the open market or in private transactions through the Corporations approved repurchase program. For the nine months ended September 30, 2009, the Corporation did not repurchase any shares of common stock and issued approximately 7.5 million shares under employee stock plans. As of September 30, 2009, 1.2 billion of unissued common shares have been reserved for future issuances. In October 2009, the Board declared a fourth quarter cash dividend on common stock of $0.01 per share, payable on December 24, 2009 to common shareholders of record on December 4, 2009. In July 2009, the Board declared a third quarter cash dividend on common stock of $0.01 per share, which was paid on September 25, 2009 to common shareholders of record on September 4, 2009. In April 2009, the Board declared a second quarter cash dividend of $0.01 per common share which was paid on June 26, 2009 to common shareholders of record on June 5, 2009. In January 2009, the Board declared a first quarter cash dividend of $0.01 per common share which was paid on March 27, 2009 to common shareholders of record on March 6, 2009. Preferred Stock In the second quarter of 2009, the Corporation entered into agreements with certain holders of non-government perpetual preferred shares to exchange their holdings of approximately $7.3 billion aggregate liquidation preference of perpetual preferred stock for approximately 545 million shares of common stock. In addition, the Corporation exchanged approximately $3.9 billion aggregate liquidation preference of non-government preferred stock for approximately 200 million shares of common stock in an exchange offer. In total, these exchanges resulted in the exchange of approximately $11.3 billion aggregate liquidation preference of preferred stock into approximately 745 million shares of common stock. The table below provides further details on the non-convertible perpetual preferred stock exchanges. (Dollars in millions, actual shares) Series Preferred Shares Exchanged Carrying Value (1) CommonShares Issued FairValueof Stock Issued Negotiated exchanges Series K 173,298 $ 4,332 328,193,964 $ 3,635 Series M 102,643 2,566 192,970,068

NOTE 14 - Pension, Postretireme

NOTE 14 - Pension, Postretirement and Other Employee Plans
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 14 - Pension, Postretirement and Other Employee Plans	NOTE 14 Pension, Postretirement and Other Employee Plans The Corporation sponsors noncontributory trusteed qualified pension plans that cover substantially all officers and employees, a number of noncontributory nonqualified pension plans, and postretirement health and life plans. The plans provide defined benefits based on an employees compensation and years of service. The Bank of America Pension Plan (the Pension Plan) provides participants with compensation credits, generally based on years of service. For account balances based on compensation credits prior to January 1, 2008, the Pension Plan allows participants to select from various earnings measures, which are based on the returns of certain funds or common stock of the Corporation. The participant-selected earnings measures determine the earnings rate on the individual participant account balances in the Pension Plan. Participants may elect to modify earnings measure allocations on a periodic basis subject to the provisions of the Pension Plan. For account balances based on compensation credits subsequent to December 31, 2007, the account balance earnings rate is based on a benchmark rate. For eligible employees in the Pension Plan on or after January 1, 2008, the benefits become vested upon completion of three years of service. It is the policy of the Corporation to fund not less than the minimum funding amount required by ERISA. A detailed discussion of these plans is presented in Note 16 Employee Benefit Plans to the Consolidated Financial Statements filed as Exhibit 99.2 to the Corporations Current Report on Form 8-K filed on May 28, 2009. As a result of the Merrill Lynch acquisition, the Corporation assumed the obligations related to the plans of Merrill Lynch. These plans include a terminated U.S. pension plan, non-U.S. pension plans, and other postretirement plans. The non-U.S. pension plans vary based on the country and local practices. In 1988, Merrill Lynch purchased a group annuity contract that guarantees the payment of benefits vested under the terminated U.S. pension plan. The Corporation, under a supplemental agreement, may be responsible for, or benefit from, actual experience and investment performance of the annuity assets. The Corporation has contributed approximately $120 million toward this agreement during the nine months ended September 30, 2009. Additional contributions may be required under the supplemental agreement. Net periodic benefit cost (income) of the Corporations plans for the three and nine months ended September 30, 2009 and 2008 included the following components: Three Months Ended September30 Qualified Pension Plans Nonqualifiedand Other Pension Plans (1) Postretirement HealthandLife Plans (Dollars in millions) 2009 2008 2009 (2) 2008 2009 (2) 2008 Components of net periodic benefit cost (income) Service cost $ 97 $ 92 $ 7 $ 2 $ 4 $ 4 Interest cost 185 213 59 20 23 22 Expected return on plan assets

NOTE 15 - Income Taxes

NOTE 15 - Income Taxes
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 15 - Income Taxes	NOTE 15 Income Taxes The Corporations net deferred tax assets increased by $19.6 billion as a result of the acquisition of Merrill Lynch on January 1, 2009. Included in these deferred tax assets are carryforward amounts generated in the U.S. and U.K. that are deductible in the future as net operating losses (NOLs). The U.K. NOL deferred tax asset of $9.7 billion has an unlimited carryforward period, but due to change-in-control limitations in the three years prior to and following the change in ownership, may be jeopardized by certain major changes in the nature or conduct of the Corporations U.K. businesses. The Corporation has concluded that no valuation allowance is required. The U.S. federal NOL of $11.8 billion, which is represented by a deferred tax asset of $4.1 billion, can be carried forward against future tax periods of the Corporation until 2028, and no valuation allowance has been established based upon the Corporations estimate that future taxable income will be sufficient to utilize the NOL prior to its expiration. Merrill Lynch also has U.S. federal capital loss and foreign tax credit carryforwards against which valuation allowances have been recorded to reduce the assets to the amounts the Corporation believes are more likely than not to be realized before their expiration. The determination of the amount of deferred tax assets that are more likely than not to be realized involves the assessment of all available evidence, both positive and negative. This evidence includes, but is not limited to, historical taxable income and projected future taxable income, the character and geographic mix of projected future taxable income, and projected future reversals of existing deferred tax liabilities. During the quarter ended June 30, 2009, the Corporation released $750 million of the valuation allowance attributable to Merrill Lynchs federal capital loss carryforward as the capital gain recognized on the sale of CCB shares increased the portion of such carryforward that is more likely than not to be realized. At September 30, 2009 and December 31, 2008, the balance of the Corporations unrecognized tax benefits (UTBs) was $5.7 billion and $3.5 billion. The increase was primarily due to the acquisition of Merrill Lynch. As of September 30, 2009, $4.4 billion of the UTBs (net of items such as state income taxes and foreign tax credit offsets) would, if recognized, affect the Corporations effective tax rate in future periods. In December 2008, the U.S. Tax Court issued an adverse decision with respect to Merrill Lynchs tax treatment of a 1987 transaction and the Corporation has filed a notice of appeal. The UTBs with respect to this transaction have been included in the amounts disclosed above. Merrill Lynch is under examination by the Internal Revenue Service (IRS) and other tax authorities in countries and states in which Merrill Lynch has significant business operations. The examinations of the U.S. federal income tax returns are ongoing for the years 2005 through 2007. Tax returns filed in the U.K. are currently under examination for the years 2006 and 2007. The Corporation has paid assessments issued by tax authorit

Note 16 - Fair Value Disclosure

Note 16 - Fair Value Disclosures
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 16 - Fair Value Disclosures	Note 16 Fair Value Disclosures GAAP defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Corporation determines the fair values of its financial instruments based on the fair value hierarchy established per GAAP which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value. The Corporation carries certain corporate loans and loan commitments, LHFS, securities financing agreements, long-term deposits and certain structured notes that are classified as long-term debt at fair value under the fair value option. The Corporation also carries at fair value trading account assets and liabilities, derivative assets and liabilities, AFS debt securities, MSRs, and certain other assets. A detailed discussion regarding the fair value hierarchy and how the Corporation measures fair value is presented in Note 1 Summary of Significant Accounting Principles to the Consolidated Financial Statements filed as Exhibit 99.2 to the Corporations Current Report on Form 8-K filed on May 28, 2009. Fair Value Measurement Level 1, 2 and 3 Valuation Techniques Financial instruments are considered Level 1 when valuation can be based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instruments are valued using quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or models using inputs that are observable or can be corroborated by observable market data of substantially the full term of the assets or liabilities. Financial instruments are considered Level 3 when their values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable and when determination of the fair value requires significant management judgment or estimation. The Corporation also uses market indices for direct inputs to certain models, where the cash settlement is directly linked to appreciation or depreciation of that particular index (primarily in the context of structured credit products). In those cases, no material adjustments are made to the index-based values. In other cases, market indices are also used as inputs to valuation, but are adjusted for trade specific factors such as rating, credit quality, vintage and other factors. Corporate Loans and Loan Commitments The fair values of loans and loan commitments are based on market prices, where available, or discounted cash flows using market-based credit spreads of comparable debt instruments or credit derivatives of the specific borrower or comparable borrowers. Results of discounted cash flow calculations may be adjusted, as appropriate, to reflect other market conditions or the perceived credit risk of the borrower. Securities Financing Agreements The fair values o

Note 17 - Fair Value of Financi

Note 17 - Fair Value of Financial Instruments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
Note 17 - Fair Value of Financial Instruments	Note 17 Fair Value of Financial Instruments The Corporation discloses the estimated fair value of financial instruments including those financial instruments for which the Corporation did not elect the fair value option in accordance with the fair value disclosure requirements for financial instruments. The fair values of such instruments have been derived, in part, by the Corporations assumptions, the estimated amount and timing of future cash flows and estimated discount rates. Different assumptions could significantly affect these estimated fair values. Accordingly, the net realizable values could be materially different from the estimates presented below. In addition, the estimates are only indicative of the value of individual financial instruments and should not be considered an indication of the fair value of the Corporation. The disclosure of the fair value of lease financing arrangements and nonfinancial instruments, including goodwill and intangible assets such as purchased credit card, affinity and trust relationships is not required by GAAP. The following disclosures represent financial instruments in which the ending balances at September 30, 2009 are not carried at fair value in their entirety on the Corporations Consolidated Balance Sheet. Short-term Financial Instruments The carrying value of short-term financial instruments, including cash and cash equivalents, time deposits placed, federal funds sold and purchased, resale and certain repurchase agreements, commercial paper and other short-term investments and borrowings, approximates the fair value of these instruments. These financial instruments generally expose the Corporation to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. Under the fair value option, the Corporation elected to fair value certain securities financing agreements and commercial paper and other short-term borrowings. See Note 16 Fair Value Disclosures for additional information on these financial instruments. Loans Fair values were generally determined by discounting both principal and interest cash flows expected to be collected using an observable discount rate for similar instruments with adjustments that the Corporation believes a market participant would consider in determining fair value. The Corporation estimates the cash flows expected to be collected using internal credit risk, interest rate and prepayment risk models that incorporate the Corporations best estimate of current key assumptions, such as default rates, loss severity and prepayment speeds for the life of the loan. Under the fair value option, the Corporation elected to fair value certain large corporate loans which exceeded the Corporations single name credit risk concentration guidelines. See Note 16 Fair Value Disclosures for additional information on loans for which the Corporation adopted the fair value option. Deposits The fair value for certain deposits with stated maturities was calculated by discounting contractual cash flows using current market rates for instruments with similar maturities. The carrying value of for

NOTE 18 - Mortgage Servicing Ri

NOTE 18 - Mortgage Servicing Rights
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 18 - Mortgage Servicing Rights	NOTE 18 Mortgage Servicing Rights The Corporation accounts for consumer MSRs at fair value with changes in fair value recorded in the Consolidated Statement of Income in mortgage banking income. The Corporation economically hedges these MSRs with certain derivatives and securities including mortgage-backed securities and U.S. Treasuries. The securities that economically hedge the MSRs are recorded in other assets with changes in the fair value of the securities and the related interest income recorded as mortgage banking income. The following table presents activity for residential first mortgage MSRs for the three and nine months ended September 30, 2009 and 2008. ThreeMonthsEndedSeptember30 NineMonthsEndedSeptember30 (Dollars in millions) 2009 2008 2009 2008 Balance, beginning of period $ 18,535 $ 4,250 $ 12,733 $ 3,053 Merrill Lynch balance, January1, 2009 - - 209 - Countrywide balance, July1, 2008 - 17,188 - 17,188 Additions 1,738 875 4,693 1,910 Impact of customer payments (906 ) (1,425 ) (2,888 ) (1,855 ) Other changes in MSR market value (1,828 ) (77 ) 2,792 515 Balance, September30 $ 17,539 $ 20,811 $ 17,539 $ 20,811 Mortgage loans serviced for investors (in billions) $ 1,726 $ 1,654 For the three and nine months ended September 30, 2009, other changes in MSR market value were $(1.8) billion and $2.8 billion compared to $(77) million and $515 million for the same periods in 2008. 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. For the three and nine months ended September 30, 2009, the amounts did not include $207 million and $514 million resulting from lower than expected prepayments. For the same periods in 2008, the amounts did not include $(102) million and $(106) million resulting from higher than expected prepayments. The net amounts of $(1.6) billion and $3.3 billion for the current periods, and $(179) million and $409 million for the comparable periods in 2008 are included in the line mortgage banking income (loss) for mortgage servicing rights in the table Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings in Note 16 Fair Value Disclosures. At September 30, 2009 and December 31, 2008, the fair value of consumer MSRs was $17.5 billion and $12.7 billion. The Corporation uses an OAS valuation approach to determine the fair value of MSRs which factors in prepayment risk. This approach consists of projecting servicing cash flows under multiple interest rate scenarios and discounting these cash flows using risk-adjusted discount rates. The key economic assumptions used in valuations of MSRs include weighted-average lives of the MSRs and the OAS levels. Key economic assumptions used in determining the fair value of MSRs at September 30, 2009 and December 31, 2008

NOTE 19 - Business Segment Info

NOTE 19 - Business Segment Information
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 19 - Business Segment Information	NOTE 19 Business Segment Information The Corporation reports the results of its operations through six business segments: Deposits, Global Card Services, Home Loans Insurance, Global Banking, Global Markets and Global Wealth Investment Management (GWIM), with the remaining operations recorded in All Other. Effective January 1, 2009, as a result of the Merrill Lynch acquisition, the Corporation changed its basis of presentation from three segments to six segments. The former Global Consumer and Small Business Banking now is reflected in three separate business segments: Deposits, Global Card Services and Home Loans Insurance. The former Global Corporate and Investment Banking now is divided into Global Banking and Global Markets. Prior period amounts have been reclassified to conform to current period presentation. These changes did not have an impact on the previously reported consolidated results of the Corporation. The Corporation may periodically reclassify business segment results based on modifications to its management reporting methodologies and changes in organizational alignment. Deposits Deposits includes the results of consumer deposits activities which consist of a comprehensive range of products provided to consumers and small businesses. In addition, Deposits includes student lending results and the net effect of its ALM activities. Deposits products include traditional savings accounts, money market savings accounts, CDs and IRAs, and noninterest- and interest-bearing checking accounts. These products provide a relatively stable source of funding and liquidity. The Corporation earns net interest spread revenues from investing this liquidity in earning assets through client-facing lending and ALM activities. The revenue is allocated to the deposit products using a funds transfer pricing process which takes into account the interest rates and maturity characteristics of the deposits. Deposits also generate fees such as account service fees, non-sufficient fund fees, overdraft charges and ATM fees. In addition, Deposits includes the impact of migrating customers, and their related deposit balances, between GWIM and Deposits. Net interest income and service fees on such deposits are included subsequent to migration. In order to better coordinate the consumer payments businesses, the Corporation consolidates consumer and small business card products into Global Card Services; therefore, debit card has moved from Deposits to Global Card Services. Global Card Services Global Card Services provides a broad offering of products including U.S. consumer and business card, consumer lending, international card and debit card to consumers and small businesses. The Corporation reports Global Card Services results on a managed basis which is consistent with the way that management evaluates the results of Global Card Services. Managed basis assumes that securitized loans were not sold and presents earnings on these loans in a manner similar to the way loans that have not been sold (i.e., held loans) are presented. Loan securitization is an alternative funding process that is used by the Corporation to diversify funding

NOTE 20 - Performance by Geogra

NOTE 20 - Performance by Geographical Area
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 20 - Performance by Geographical Area	NOTE 20 Performance by Geographical Area Since the Corporations operations are highly integrated, certain income, expense, asset and liability amounts must be allocated to arrive at total revenue, net of interest expense, income before income taxes, net income and total assets by geographic area. The Corporation identifies its geographic performance based upon the business unit structure used to manage the capital or expense deployed in the region as applicable. This requires certain judgments related to the allocation of revenue so that it can be appropriately matched with the related expense or capital deployed in the region. Three Months Ended September30 Nine Months Ended September30 (Dollars in millions) Year TotalRevenue, Net ofInterest Expense(1) Income(Loss) BeforeIncome Taxes NetIncome (Loss) TotalRevenue, NetofInterest Expense(1) Income(Loss) BeforeIncome Taxes NetIncome (Loss) Domestic (2) 2009 $ 22,638 $ (3,050 ) $ (1,769 ) $ 76,224 $ (4,805 ) $ (377) 2008 18,166 1,282 1,028 52,892 7,236 5,163 Asia (3) 2009 464 (161 ) (101 ) 9,989 8,017 5,050 2008 272 73 46 1,020 503 318 Europe, Middle East and Africa 2009 2,540 1,010 727 7,208 1,983 1,428 2008 1,079 61 44 2,701 79 59 Latin America and the Caribbean 2009 393 225 142 1,146 584 369 2008 104 95 59 489 412 257 Total Foreign 2009 3,397 1,074 768 18,343 10,584 6,847 2008 1,455 229 149 4,210 994 634 Total Consolidated 2009 $ 26,035 $ (1,976 ) $ (1,001 ) $ 94,567 $ 5,779 $ 6,470 2008 19,621 1,511 1,177 57,102 8,230 5,797 (1) There were no material intercompany revenues between geographic regions for any of the periods presented. (2) Includes the Corporations Canadian operations which had total revenue, net of interest expense of $374 million and $1.1 billion; income before income taxes of $131million and $326 million; and net income of $85 million and $241 million for the three and nine months ended September30, 2009, respectively. Includes the Corporations Canadian operations which had total revenue, net of interest expense of $317 million and $884 million; income before income taxes of $140 million and $394 million; and net income of $96 million and $285 million for the three and nine months ended September30, 2008, respectively. (3) The nine months ended September30, 2009 includes pre

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Oct. 31, 2009
Entity [Text Block]
Trading Symbol	BAC
Entity Registrant Name	BANK OF AMERICA CORP /DE/
Entity Central Index Key	0000070858
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		8,650,759,836