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Eye on the Bailout

Companies » Bank (Public)

Bank of America

Bank of America returned its bailout funds on Dec. 9, 2009

Disbursed $45,000,000,000
Returned $45,000,000,000
Revenue to Gov't $4,571,516,269
Profit $4,571,516,269

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Map: Corporate headquarters of Bank of America.
Charlotte, N.C.
See all recipients in North Carolina

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Bank of America was among the eight large U.S. banks to receive the Treasury Department's initial round of capital investments (nine if you count Merrill Lynch, now part of BoA) -- money described by Treasury officials not as a bailout, but rather as funds to help bolster "healthy" banks in tough times. But last January, 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 in January, BoA 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 right, 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 $33.9 billion in additional capital.

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

Events

Date Type Amount Program Description
03/03/2010 Warrant $186,342,969 CPP Warrant Proceeds
03/03/2010 Warrant $124,228,646 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 Fee $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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