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Bank of America

Charlotte, N.C. | See all recipients in North Carolina
$45B Disbursed
$45B Returned
$4.57B Revenue to Gov't
$4.57B Profit
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Bank of America was among the eight large U.S. banks (nine if you count Merrill Lynch, now part of BoA) to receive the Treasury Department's initial round of capital investments in the fall of 2008 -- money described by Treasury officials not as a bailout, but rather as funds to help bolster "healthy" banks in tough times. But in January of 2009, Bank of America received additional government aid to help it cover the massive losses resulting from its acquisition of Merrill Lynch.

The $45 billion in aid came mostly in the form of large capital investments, but BoA also struck a deal with the government to limit losses from a $118 billion pool of troubled assets. The Treasury agreed to make those guarantees alongside the Fed and FDIC. But Bank of America backed out of the deal before it was finalized, eventually paying a total of $425 million in fees to the Treasury, Fed, and FDIC. As you can see to the left, the Treasury received $276 million of that. In December, BoA returned the $45 billion to the Treasury.


Additional Resources:
Bank of America Term Sheet (1/15/09)

Stress Tested

This company is among the 19 companies that underwent a "stress test." Regulators determined that it needs to raise $33,900,000,000.0 in additional capital.

See the list of all 19 stress-tested companies here.

Events

Date Type Amount Program Description
03/03/2010 Warrant $183,547,824 CPP Warrant Proceeds
03/03/2010 Warrant $122,365,216 CPP Warrant Proceeds
03/03/2010 Warrant $1,255,639,099 TIP Warrant Proceeds
12/09/2009 Dividend $50,000,000 CPP Dividend Payment
12/09/2009 Dividend $33,333,333 CPP Dividend Payment
12/09/2009 Refund $25,000,000,000 CPP Repayment
12/09/2009 Refund $20,000,000,000 TIP Repayment
12/09/2009 Dividend $106,666,667 TIP Dividend Payment
11/16/2009 Dividend $125,000,000 CPP Dividends payment
11/16/2009 Dividend $187,500,000 CPP Dividends payment
11/16/2009 Dividend $400,000,000 TIP Dividends payment
09/21/2009 Proceeds $276,000,000 AGP Termination Fee
08/17/2009 Dividend $125,000,000 CPP Dividends Paid in Aug. 2009
08/17/2009 Dividend $187,500,000 CPP Dividends Paid in Aug. 2009
08/17/2009 Dividend $400,000,000 TIP Dividends Paid in Aug. 2009
05/31/2009 Dividend $528,888,889 TIP Dividends Paid Through 5/31/2009
05/31/2009 Dividend $410,416,667 CPP Dividends Paid Through 5/31/2009
05/31/2009 Dividend $175,000,000 CPP Dividends Paid Through 5/31/2009
01/16/2009 Purchase $20,000,000,000 TIP Purchase - Preferred Stock w/ Warrants
01/09/2009 Purchase $10,000,000,000 CPP Purchase - Preferred Stock w/ Warrants
10/28/2008 Purchase $15,000,000,000 CPP Purchase - Preferred Stock w/ Warrants

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