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Pam and Russ Martens: Bank of America's unrealized debt losses are 34% of all such losses among U.S. banks
By Pam and Russ Martens
Wall Street on Parade
Tuesday, September 26, 2023
According to Bank of America's federal regulatory filing known as the Call Report, for the quarter ending June 30, 2023, it had $105.79 billion in unrealized losses on its held-to-maturity securities.
That figure is not only far beyond the realm of what its peer banks reported, but it represents a stunning 34% of all unrealized losses on held-to-maturity securities reported by 4,645 FDIC-insured commercial banks and savings institutions as of June 30, according to the FDIC's Quarterly Banking Profile.
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For the quarter ending June 30, the FDIC reported that all 4,645 FDIC-insured financial institutions had $309.6 billion in unrealized losses on held-to-maturity securities. ...
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