Supplemental Information

EX-99.2 3 dex992.htm SUPPLEMENTAL INFORMATION Supplemental Information

Exhibit 99.2

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Supplemental Information

Third Quarter 2009

This information is preliminary and based on company data available at the time of the presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at Bank of America’s website (www.bankofamerica.com). Bank of America’s future financial performance is subject to risks and uncertainties as described in its SEC filings.


Bank of America Corporation and Subsidiaries
Table of Contents		Page

Consolidated Financial Highlights		2
Supplemental Financial Data		3
Consolidated Statement of Income		4
Consolidated Balance Sheet		5
Capital Management		6
Core Net Interest Income - Managed Basis		7
Quarterly Average Balances and Interest Rates		8
Quarterly Average Balances and Interest Rates - Isolating Hedge Income/Expense		9
Year-to-Date Average Balances and Interest Rates		10
Year-to-Date Average Balances and Interest Rates - Isolating Hedge Income/Expense		11
Debt Securities and Available-for-Sale Marketable Equity Securities		12
Quarterly Results by Business Segment		13
Year-to-Date Results by Business Segment		14
Deposits
Total Segment Results		15
Key Indicators		16
Global Card Services
Total Segment Results		17
Key Indicators		18
Home Loans & Insurance
Total Segment Results		19
Key Indicators		20
Global Banking
Total Segment Results		21
Key Indicators		22
Investment Banking Product Rankings		23
Global Markets
Total Segment Results		24
Off-Balance Sheet Special Purpose Entities Liquidity Exposure		25
Super Senior Collateralized Debt Obligation Exposure		26
Unhedged Subprime Super Senior Collateralized Debt Obligation Carrying Values		27
Global Wealth & Investment Management
Total Segment Results		28
Quarter-to-Date Business Results		29
Year-to-Date Business Results		30
Key Indicators		31
All Other
Total Segment Results		32
Equity Investments		33
Outstanding Loans and Leases		34
Quarterly Average Loans and Leases by Business Segment		35
Commercial Credit Exposure by Industry		36
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating		37
Selected Emerging Markets		38
Nonperforming Assets		39
Nonperforming Asset Activity		40
Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios		41
YTD Net Charge-offs/Losses and Net Charge-off/Loss Ratios		42
Allocation of the Allowance for Credit Losses by Product Type		43

Exhibit A: Non-GAAP Reconciliations		44

Appendix: Selected Slides from the Third Quarter 2009 Earnings Release Presentation		46


		1

Bank of America Corporation and Subsidiaries

Consolidated Financial Highlights

(Dollars in millions, except per share information; shares in thousands)


	Nine Months Ended September 30							Third Quarter 2009 ⁽¹⁾				Second Quarter 2009				First Quarter 2009			Fourth Quarter 2008 ⁽¹⁾				Third Quarter 2008
	2009				2008			Third Quarter 2009 ⁽¹⁾				Second Quarter 2009				First Quarter 2009			Fourth Quarter 2008 ⁽¹⁾				Third Quarter 2008
Income statement
Net interest income	$	35,550			$	32,254		$	11,423			$	11,630			$	12,497		$	13,106			$	11,642
Noninterest income		59,017				24,848			14,612				21,144				23,261			2,574				7,979
Total revenue, net of interest expense		94,567				57,102			26,035				32,774				35,758			15,680				19,621
Provision for credit losses		38,460				18,290			11,705				13,375				13,380			8,535				6,450
Noninterest expense, before merger and restructuring charges		48,140				29,953			15,712				16,191				16,237			10,641				11,413
Merger and restructuring charges		2,188				629			594				829				765			306				247
Income tax expense (benefit)		(691	)			2,433			(975	)			(845	)			1,129			(2,013	)			334
Net income (loss)		6,470				5,797			(1,001	)			3,224				4,247			(1,789	)			1,177
Preferred stock dividends		3,478				849			1,240				805				1,433			603				473
Net income (loss) applicable to common shareholders		2,992				4,948			(2,241	)			2,419				2,814			(2,392	)			704
Diluted earnings (loss) per common share		0.39				1.09			(0.26	)			0.33				0.44			(0.48	)			0.15
Average diluted common shares issued and outstanding		7,449,911				4,477,994			8,633,834				7,269,518				6,431,027			4,957,049				4,547,578
Dividends paid per common share	$	0.03			$	1.92		$	0.01			$	0.01			$	0.01		$	0.32			$	0.64

Performance ratios
Return on average assets		0.35		%		0.43	%		n/m		%		0.53		%		0.68	%		n/m		%		0.25	%
Return on average common shareholders’ equity		2.26				4.68			n/m				5.59				7.10			n/m				1.97
Return on average tangible common shareholders’ equity ⁽²⁾		10.42				14.29			n/m				16.90				24.37			n/m				8.92
Return on average tangible shareholders’ equity ⁽²⁾		5.83				10.50			n/m				8.86				12.42			n/m				6.11
At period end
Book value per share of common stock	$	22.99			$	30.01		$	22.99			$	22.71			$	25.98		$	27.77			$	30.01
Tangible book value per share of common stock ⁽²⁾		12.00				10.50			12.00				11.66				10.88			10.11				10.50
Market price per share of common stock:
Closing price	$	16.92			$	35.00		$	16.92			$	13.20			$	6.82		$	14.08			$	35.00
High closing price for the period		17.98				45.03			17.98				14.17				14.33			38.13				37.48
Low closing price for the period		3.14				18.52			11.84				7.05				3.14			11.25				18.52
Market capitalization		146,363				159,672			146,363				114,199				43,654			70,645				159,672

Number of banking centers - domestic		6,008				6,139			6,008				6,109				6,145			6,139				6,139
Number of branded ATMs - domestic		18,254				18,584			18,254				18,426				18,532			18,685				18,584
Full-time equivalent employees		281,863				247,024			281,863				282,408				286,625			240,202				247,024

(1)

Due to a net loss for the three months ended September 30, 2009 and December 31, 2008, the impact of antidilutive equity instruments were excluded from diluted earnings per share and average diluted common shares.

(2)

Tangible equity ratios and tangible book value per share of common stock are non-GAAP measures. For corresponding reconciliations of average tangible common shareholders’ equity and tangible shareholders’ equity to GAAP financial measures, see Supplemental Financial Data on page 3. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation.

n/m = not meaningful

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		2

Bank of America Corporation and Subsidiaries

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data


	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2009				2008				2009				2009				2009				2008				2008
Net interest income	$	36,514			$	33,148			$	11,753			$	11,942			$	12,819			$	13,406			$	11,920
Total revenue, net of interest expense		95,531				57,996				26,365			$	33,086				36,080				15,980				19,899
Net interest yield		2.65		%		2.86		%		2.61		%		2.64		%		2.70		%		3.31		%		2.93		%
Efficiency ratio		52.68				52.73				61.84				51.44				47.12				68.51				58.60
Reconciliation to GAAP financial measures The Corporation evaluates its business based upon ratios that utilize tangible equity which is a non-GAAP measure. Return on average tangible shareholders’ equity measures the Corporation’s earnings contribution as a percentage of shareholders’ equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible equity ratio and the tangible common equity ratio represent shareholders’ equity, common or total as applicable, less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. These measures are used to evaluate the Corporation’s use of equity (i.e., capital). In addition, profitability, relationship, and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals. Also, the efficiency ratio measures the costs expended to generate a dollar of revenue. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently. See the tables below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the three months ended September 30, 2009, June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, and the nine months ended September 30, 2009 and 2008. Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	242,638			$	160,890			$	255,983			$	242,867			$	228,766			$	176,566			$	166,454
Goodwill		(86,028	)			(79,150	)			(86,170	)			(87,314	)			(84,584	)			(81,841	)			(81,977	)
Intangible assets (excluding MSRs)		(12,107	)			(9,731	)			(13,223	)			(13,595	)			(9,461	)			(8,818	)			(9,547	)
Related deferred tax liabilities		3,873				1,738				3,725				3,916				3,977				1,913				1,683

Tangible shareholders’ equity	$	148,376			$	73,747			$	160,315			$	145,874			$	138,698			$	87,820			$	76,613

Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	177,289			$	141,337			$	197,230			$	173,497			$	160,739			$	142,535			$	142,303
Goodwill		(86,028	)			(79,150	)			(86,170	)			(87,314	)			(84,584	)			(81,841	)			(81,977	)
Intangible assets (excluding MSRs)		(12,107	)			(9,731	)			(13,223	)			(13,595	)			(9,461	)			(8,818	)			(9,547	)
Related deferred tax liabilities		3,873				1,738				3,725				3,916				3,977				1,913				1,683

Tangible common shareholders’ equity	$	83,027			$	54,194			$	101,562			$	76,504			$	70,671			$	53,789			$	52,462

Reconciliation of period end shareholders’ equity to period end tangible shareholders’ equity
Shareholders’ equity	$	257,683			$	161,039			$	257,683			$	255,152			$	239,549			$	177,052			$	161,039
Goodwill		(86,009	)			(81,756	)			(86,009	)			(86,246	)			(86,910	)			(81,934	)			(81,756	)
Intangible assets (excluding MSRs)		(12,715	)			(9,167	)			(12,715	)			(13,245	)			(13,703	)			(8,535	)			(9,167	)
Related deferred tax liabilities		3,714				1,914				3,714				3,843				3,958				1,854				1,914

Tangible shareholders’ equity	$	162,673			$	72,030			$	162,673			$	159,504			$	142,894			$	88,437			$	72,030

Reconciliation of period end common shareholders’ equity to period end tangible common shareholders’ equity
Common shareholders’ equity	$	198,843			$	136,888			$	198,843			$	196,492			$	166,272			$	139,351			$	136,888
Goodwill		(86,009	)			(81,756	)			(86,009	)			(86,246	)			(86,910	)			(81,934	)			(81,756	)
Intangible assets (excluding MSRs)		(12,715	)			(9,167	)			(12,715	)			(13,245	)			(13,703	)			(8,535	)			(9,167	)
Related deferred tax liabilities		3,714				1,914				3,714				3,843				3,958				1,854				1,914

Tangible common shareholders’ equity	$	103,833			$	47,879			$	103,833			$	100,844			$	69,617			$	50,736			$	47,879

Reconciliation of period end assets to period end tangible assets
Assets	$	2,251,043			$	1,831,177			$	2,251,043			$	2,254,394			$	2,321,963			$	1,817,943			$	1,831,177
Goodwill		(86,009	)			(81,756	)			(86,009	)			(86,246	)			(86,910	)			(81,934	)			(81,756	)
Intangible assets (excluding MSRs)		(12,715	)			(9,167	)			(12,715	)			(13,245	)			(13,703	)			(8,535	)			(9,167	)
Related deferred tax liabilities		3,714				1,914				3,714				3,843				3,958				1,854				1,914

Tangible assets	$	2,156,033			$	1,742,168			$	2,156,033			$	2,158,746			$	2,225,308			$	1,729,328			$	1,742,168

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		3

Bank of America Corporation and Subsidiaries

Consolidated Statement of Income

(Dollars in millions, except per share information; shares in thousands)


	Nine Months Ended September 30						Third Quarter 2009 ⁽¹⁾			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008 ⁽¹⁾			Third Quarter 2008
	2009			2008			Third Quarter 2009 ⁽¹⁾			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008 ⁽¹⁾			Third Quarter 2008
Interest income
Interest and fees on loans and leases	$	37,298		$	41,797		$	11,620		$	12,329		$	13,349		$	14,220		$	14,261
Interest on debt securities		10,088			9,295			2,975			3,283			3,830			3,851			3,621
Federal funds sold and securities borrowed or purchased under agreements to resell		2,567			2,920			722			690			1,155			393			912
Trading account assets		6,223			6,937			1,843			1,952			2,428			2,120			2,344
Other interest income		4,095			3,133			1,363			1,338			1,394			1,018			1,058

Total interest income		60,271			64,082			18,523			19,592			22,156			21,602			22,196

Interest expense
Deposits		6,335			11,954			1,710			2,082			2,543			3,296			3,846
Short-term borrowings		4,854			10,452			1,237			1,396			2,221			1,910			3,223
Trading account liabilities		1,484			2,250			455			450			579			524			661
Long-term debt		12,048			7,172			3,698			4,034			4,316			2,766			2,824

Total interest expense		24,721			31,828			7,100			7,962			9,659			8,496			10,554

Net interest income		35,550			32,254			11,423			11,630			12,497			13,106			11,642

Noninterest income
Card income		6,571			10,212			1,557			2,149			2,865			3,102			3,122
Service charges		8,282			7,757			3,020			2,729			2,533			2,559			2,722
Investment and brokerage services		8,905			3,900			2,948			2,994			2,963			1,072			1,238
Investment banking income		3,955			1,645			1,254			1,646			1,055			618			474
Equity investment income (loss)		7,988			1,330			843			5,943			1,202			(791	)		(316	)
Trading account profits (losses)		10,760			(1,810	)		3,395			2,164			5,201			(4,101	)		(384	)
Mortgage banking income		7,139			2,564			1,298			2,527			3,314			1,523			1,674
Insurance income		2,057			1,092			707			662			688			741			678
Gains on sales of debt securities		3,684			362			1,554			632			1,498			762			10
Other income (loss)		1,870			(206	)		(1,167	)		724			2,313			(1,448	)		(317	)
Other-than-temporary impairment losses on AFS debt securities:
Total other-than-temporary impairment losses on AFS debt securities		(2,671	)		(1,998	)		(847	)		(1,110	)		(714	)		(1,463	)		(922	)
Portion of other-than-temporary impairment losses recognized in OCI on AFS debt securities		477			—			50			84			343			—			—

Net impairment losses recognized in earnings on AFS debt securities		(2,194	)		(1,998	)		(797	)		(1,026	)		(371	)		(1,463	)		(922	)

Total noninterest income		59,017			24,848			14,612			21,144			23,261			2,574			7,979

Total revenue, net of interest expense		94,567			57,102			26,035			32,774			35,758			15,680			19,621

Provision for credit losses		38,460			18,290			11,705			13,375			13,380			8,535			6,450

Noninterest expense
Personnel		24,171			14,344			7,613			7,790			8,768			4,027			5,198
Occupancy		3,567			2,623			1,220			1,219			1,128			1,003			926
Equipment		1,855			1,208			617			616			622			447			440
Marketing		1,490			1,813			470			499			521			555			605
Professional fees		1,511			1,071			562			544			405			521			424
Amortization of intangibles		1,546			1,357			510			516			520			477			464
Data processing		1,861			1,905			592			621			648			641			755
Telecommunications		1,033			814			361			345			327			292			288
Other general operating		11,106			4,818			3,767			4,041			3,298			2,678			2,313
Merger and restructuring charges		2,188			629			594			829			765			306			247

Total noninterest expense		50,328			30,582			16,306			17,020			17,002			10,947			11,660

Income (loss) before income taxes		5,779			8,230			(1,976	)		2,379			5,376			(3,802	)		1,511
Income tax expense (benefit)		(691	)		2,433			(975	)		(845	)		1,129			(2,013	)		334

Net income (loss)	$	6,470		$	5,797		$	(1,001	)	$	3,224		$	4,247		$	(1,789	)	$	1,177

Preferred stock dividends		3,478			849			1,240			805			1,433			603			473

Net income (loss) applicable to common shareholders	$	2,992		$	4,948		$	(2,241	)	$	2,419		$	2,814		$	(2,392	)	$	704


Per common share information
Earnings (loss)	$	0.39		$	1.09		$	(0.26	)	$	0.33		$	0.44		$	(0.48	)	$	0.15
Diluted earnings (loss)		0.39			1.09			(0.26	)		0.33			0.44			(0.48	)		0.15
Dividends paid		0.03			1.92			0.01			0.01			0.01			0.32			0.64

Average common shares issued and outstanding		7,423,341			4,469,517			8,633,834			7,241,515			6,370,815			4,957,049			4,543,963

Average diluted common shares issued and outstanding		7,449,911			4,477,994			8,633,834			7,269,518			6,431,027			4,957,049			4,547,578

(1)

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		4

Bank of America Corporation and Subsidiaries

Consolidated Balance Sheet

(Dollars in millions)


	September 30 2009			June 30 2009			September 30 2008
Assets
Cash and cash equivalents	$	152,412		$	140,366		$	39,341
Time deposits placed and other short-term investments		22,992			25,710			11,709
Federal funds sold and securities borrowed or purchased under agreements to resell		187,761			184,685			87,038
Trading account assets		204,838			175,934			155,719
Derivative assets		94,855			101,707			45,792
Debt securities:
Available-for-sale		247,200			257,519			257,427
Held-to-maturity, at cost		9,545			9,719			1,250
Total debt securities		256,745			267,238			258,677
Loans and leases, net of allowance:
Loans and leases		914,266			942,248			942,676
Allowance for loan and lease losses		(35,832	)		(33,785	)		(20,346	)
Total loans and leases, net of allowance		878,434			908,463			922,330
Premises and equipment, net		15,373			15,667			13,000
Mortgage servicing rights (includes $17,539, $18,535 and $20,811 measured at fair value)		17,850			18,857			21,131
Goodwill		86,009			86,246			81,756
Intangible assets		12,715			13,245			9,167
Loans held-for-sale		40,124			50,994			27,414
Other assets		280,935			265,282			158,103
Total assets	$	2,251,043		$	2,254,394		$	1,831,177

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	246,729		$	248,757		$	201,025
Interest-bearing		652,730			650,725			577,503
Deposits in foreign offices:
Noninterest-bearing		4,889			4,560			3,524
Interest-bearing		70,551			66,700			91,999
Total deposits		974,899			970,742			874,051
Federal funds purchased and securities loaned or sold under agreements to repurchase		249,578			263,639			225,729
Trading account liabilities		71,672			50,000			63,881
Derivative liabilities		52,624			51,300			26,466
Commercial paper and other short-term borrowings		62,280			96,236			145,812
Accrued expenses and other liabilities (includes $1,567, $1,992 and $427 of reserve for unfunded lending commitments)		126,019			120,138			76,489
Long-term debt		456,288			447,187			257,710
Total liabilities		1,993,360			1,999,242			1,670,138
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 5,760,660, 5,760,731 and 7,602,067 shares		58,840			58,660			24,151
Common stock and additional paid-in capital, $0.01 par value; authorized - 10,000,000,000, 10,000,000,000, and 7,500,000,000 shares; issued and outstanding - 8,650,314,133, 8,651,459,122 and 4,562,054,554 shares		128,823			128,717			65,361
Retained earnings		76,881			79,210			77,695
Accumulated other comprehensive income (loss)		(6,705	)		(11,227	)		(5,647	)
Other		(156	)		(208	)		(521	)
Total shareholders’ equity		257,683			255,152			161,039
Total liabilities and shareholders’ equity	$	2,251,043		$	2,254,394		$	1,831,177

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		5

Bank of America Corporation and Subsidiaries

Capital Management

(Dollars in millions)


	Third Quarter 2009 ⁽¹⁾			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008
Risk-based capital:
Tier 1 common	$	112,357		$	110,383		$	76,145		$	63,339		$	56,139
Tier 1 capital		193,073			190,874			171,061			120,814			100,248
Total capital		258,568			255,701			237,905			171,661			153,318
Risk-weighted assets		1,548,962			1,599,569			1,695,192			1,320,824			1,328,084
Tier 1 common equity ratio ⁽²⁾		7.25	%		6.90	%		4.49	%		4.80	%		4.23	%
Tier 1 capital ratio		12.46			11.93			10.09			9.15			7.55
Total capital ratio		16.69			15.99			14.03			13.00			11.54
Tier 1 leverage ratio		8.39			8.21			7.07			6.44			5.51
Tangible equity ratio ⁽³⁾		7.55			7.39			6.42			5.11			4.13
Tangible common equity ratio ⁽³⁾		4.82			4.67			3.13			2.93			2.75

(1)

Preliminary data on risk-based capital

(2)

Tier 1 common equity ratio equals Tier 1 capital excluding preferred stock, trust preferred securities, hybrid securities and minority interest divided by risk-weighted assets.

(3)

Tangible equity ratio equals period end tangible shareholders’ equity divided by period end tangible assets. Tangible common equity equals period end tangible common shareholders’ equity divided by period end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP measures. For corresponding reconciliations of tangible shareholders’ equity and tangible assets to GAAP financial measures, see Supplemental Financial Data on page 3. We believe the use of these non-GAAP measures provide additional clarity in assessing the results of the Corporation.

LOGO

Preliminary data on risk-based capital

Outstanding Common Stock

No common shares were repurchased in the third quarter of 2009.

75.0 million shares remain outstanding under the 2008 authorized share repurchase program.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		6

Bank of America Corporation and Subsidiaries

Core Net Interest Income - Managed Basis

(Dollars in millions)


	Nine Months Ended September 30								Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008
	2009				2008				Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008
Net interest income ⁽¹⁾
As reported	$	36,514			$	33,148			$	11,753			$	11,942			$	12,819			$	13,406			$	11,920
Impact of market-based net interest income ⁽²⁾		(4,868	)			(3,477	)			(1,451	)			(1,524	)			(1,893	)			(1,462	)			(1,234	)

Core net interest income		31,646				29,671				10,302				10,418				10,926				11,944				10,686
Impact of securitizations ⁽³⁾		8,050				6,654				2,567				2,734				2,749				2,257				2,310

Core net interest income - managed basis	$	39,696			$	36,325			$	12,869			$	13,152			$	13,675			$	14,201			$	12,996


Average earning assets
As reported	$	1,837,706			$	1,544,617			$	1,790,000			$	1,811,981			$	1,912,483			$	1,616,646			$	1,622,466
Impact of market-based earning assets ⁽²⁾		(478,448	)			(377,148	)			(468,999	)			(476,598	)			(489,979	)			(311,582	)			(369,921	)

Core average earning assets		1,359,258				1,167,469				1,321,001				1,335,383				1,422,504				1,305,064				1,252,545
Impact of securitizations ⁽⁴⁾		86,438				102,481				81,703				86,154				91,567				93,189				101,743

Core average earning assets - managed basis	$	1,445,696			$	1,269,950			$	1,402,704			$	1,421,537			$	1,514,071			$	1,398,253			$	1,354,288


Net interest yield contribution ^(1, 5)
As reported		2.65		%		2.86		%		2.61		%		2.64		%		2.70		%		3.31		%		2.93		%
Impact of market-based activities ⁽²⁾		0.46				0.53				0.50				0.49				0.39				0.34				0.47

Core net interest yield on earning assets		3.11				3.39				3.11				3.13				3.09				3.65				3.40
Impact of securitizations		0.56				0.43				0.54				0.58				0.54				0.40				0.43

Core net interest yield on earning assets - managed basis		3.67		%		3.82		%		3.65		%		3.71		%		3.63		%		4.05		%		3.83		%

(1)

Fully taxable-equivalent basis

(2)

Represents the impact of market-based amounts included in Global Markets.

(3)

Represents the impact of securitizations utilizing actual bond costs. This is different from the business segment view which utilizes funds transfer pricing methodologies.

(4)

Represents average securitized loans less accrued interest receivable and certain securitized bonds retained.

(5)

Calculated on an annualized basis.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		7

Bank of America Corporation and Subsidiaries

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis

(Dollars in millions)


	Third Quarter 2009						Second Quarter 2009						Third Quarter 2008
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	29,485	$	133	1.79	%	$	25,604	$	169	2.64	%	$	11,361	$	101	3.54	%
Federal funds sold and securities borrowed or purchased under agreements to resell		223,039		722	1.28			230,955		690	1.20			136,322		912	2.67
Trading account assets		212,488		1,909	3.58			199,820		2,028	4.07			189,715		2,390	5.03
Debt securities ⁽¹⁾		263,712		3,048	4.62			255,159		3,353	5.26			266,013		3,672	5.52
Loans and leases ⁽²⁾:
Residential mortgage ⁽³⁾		241,924		3,258	5.38			253,803		3,489	5.50			260,779		3,683	5.65
Home equity		153,269		1,614	4.19			156,599		1,722	4.41			151,111		2,153	5.67
Discontinued real estate		16,570		219	5.30			18,309		303	6.61			22,031		399	7.25
Credit card - domestic		49,751		1,349	10.76			51,721		1,380	10.70			63,414		1,682	10.55
Credit card - foreign		21,189		562	10.52			18,825		501	10.66			17,075		535	12.47
Direct/Indirect consumer⁽⁴⁾		100,012		1,439	5.71			100,302		1,532	6.12			85,392		1,790	8.34
Other consumer ⁽⁵⁾		3,331		60	7.02			3,298		63	7.77			3,723		80	8.78
Total consumer		586,046		8,501	5.77			602,857		8,990	5.97			603,525		10,322	6.82
Commercial - domestic		216,332		2,132	3.91			231,639		2,176	3.77			224,117		2,852	5.06
Commercial real estate ⁽⁶⁾		74,276		600	3.20			75,559		627	3.33			63,220		727	4.57
Commercial lease financing		22,068		178	3.22			22,026		260	4.72			22,585		53	0.93
Commercial - foreign		31,533		297	3.74			34,024		360	4.24			33,467		377	4.48
Total commercial		344,209		3,207	3.70			363,248		3,423	3.78			343,389		4,009	4.64
Total loans and leases		930,255		11,708	5.01			966,105		12,413	5.15			946,914		14,331	6.03
Other earning assets		131,021		1,333	4.05			134,338		1,251	3.73			72,141		1,068	5.90
Total earning assets ⁽⁷⁾		1,790,000		18,853	4.19			1,811,981		19,904	4.40			1,622,466		22,474	5.52
Cash and cash equivalents		196,116						204,354						36,030
Other assets, less allowance for loan and lease losses		404,559						403,982						247,195
Total assets	$	2,390,675					$	2,420,317					$	1,905,691

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	34,170	$	49	0.57	%	$	34,367	$	54	0.63	%	$	32,297	$	58	0.72	%
NOW and money market deposit accounts		356,873		353	0.39			342,570		376	0.44			278,552		973	1.39
Consumer CDs and IRAs		214,284		1,100	2.04			229,392		1,409	2.46			218,862		1,852	3.37
Negotiable CDs, public funds and other time deposits		48,905		118	0.95			39,100		124	1.28			36,039		291	3.21
Total domestic interest-bearing deposits		654,232		1,620	0.98			645,429		1,963	1.22			565,750		3,174	2.23
Foreign interest-bearing deposits:
Banks located in foreign countries		15,941		29	0.73			19,261		37	0.76			36,230		266	2.91
Governments and official institutions		6,488		4	0.23			7,379		4	0.22			11,847		72	2.43
Time, savings and other		53,013		57	0.42			54,307		78	0.58			48,209		334	2.76
Total foreign interest-bearing deposits		75,442		90	0.47			80,947		119	0.59			96,286		672	2.78
Total interest-bearing deposits		729,674		1,710	0.93			726,376		2,082	1.15			662,036		3,846	2.31
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		411,063		1,237	1.19			503,451		1,396	1.11			465,511		3,223	2.76
Trading account liabilities		73,290		455	2.46			62,778		450	2.87			73,702		661	3.57
Long-term debt		449,974		3,698	3.27			444,131		4,034	3.64			264,934		2,824	4.26
Total interest-bearing liabilities ⁽⁷⁾		1,664,001		7,100	1.70			1,736,736		7,962	1.84			1,466,183		10,554	2.86
Noninterest-bearing sources:
Noninterest-bearing deposits		259,621						248,516						195,809
Other liabilities		211,070						192,198						77,245
Shareholders’ equity		255,983						242,867						166,454
Total liabilities and shareholders’ equity	$	2,390,675					$	2,420,317					$	1,905,691
Net interest spread					2.49	%					2.56	%					2.66	%
Impact of noninterest-bearing sources					0.12						0.08						0.27
Net interest income/yield on earning assets			$	11,753	2.61	%			$	11,942	2.64	%			$	11,920	2.93	%

(1)

Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.

(2)

Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis. Purchased impaired loans were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.

(3)

Includes foreign residential mortgages of $662 million and $650 million for the third and second quarters of 2009.

(4)

Includes foreign consumer loans of $8.4 billion and $8.0 billion in the third and second quarters of 2009, and $2.6 billion in the third quarter of 2008.

(5)

Includes consumer finance loans of $2.4 billion and $2.5 billion in the third and second quarters of 2009, and $2.7 billion in the third quarter of 2008; and other foreign consumer loans of $700 million and $640 million in the third and second quarters of 2009, and $725 million in the third quarter of 2008.

(6)

Includes domestic commercial real estate loans of $70.7 billion and $72.8 billion in the third and second quarters of 2009, and $62.2 billion in the third quarter of 2008, and foreign commercial real estate loans of $3.6 billion and $2.8 billion in the third and second quarters of 2009, and $1.0 billion in the third quarter of 2008.

(7)

Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $136 million and $11 million in the third and second quarters of 2009, and $12 million in the third quarter of 2008. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on the underlying liabilities $(873) million and $(550) million in the third and second quarters of 2009, and $86 million in the third quarter of 2008.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		8

Bank of America Corporation and Subsidiaries

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Hedge Income/Expense ⁽¹⁾

(Dollars in millions)


	Third Quarter 2009							Second Quarter 2009							Third Quarter 2008
	Average Balance		Interest Income/ Expense			Yield/ Rate		Average Balance		Interest Income/ Expense			Yield/ Rate		Average Balance		Interest Income/ Expense			Yield/ Rate
Earning assets
Time deposits placed and other short-term investments ⁽²⁾	$	29,485	$	133		1.79	%	$	25,604	$	172		2.69	%	$	11,361	$	105		3.68		%
Federal funds sold and securities borrowed or purchased under agreements to resell⁽²⁾		223,039		627		1.11			230,955		628		1.09			136,322		948		2.78
Trading account assets⁽²⁾		212,488		1,915		3.59			199,820		2,028		4.07			189,715		2,390		5.03
Debt securities ⁽²⁾		263,712		3,261		4.94			255,159		3,387		5.31			266,013		3,675		5.52
Loans and leases:
Residential mortgage		241,924		3,258		5.38			253,803		3,489		5.50			260,779		3,683		5.65
Home equity		153,269		1,614		4.19			156,599		1,722		4.41			151,111		2,153		5.67
Discontinued real estate		16,570		219		5.30			18,309		303		6.61			22,031		399		7.25
Credit card - domestic		49,751		1,349		10.76			51,721		1,380		10.70			63,414		1,682		10.55
Credit card - foreign		21,189		562		10.52			18,825		501		10.66			17,075		535		12.47
Direct/Indirect consumer		100,012		1,439		5.71			100,302		1,532		6.12			85,392		1,790		8.34
Other consumer		3,331		60		7.02			3,298		63		7.77			3,723		80		8.78
Total consumer		586,046		8,501		5.77			602,857		8,990		5.97			603,525		10,322		6.82
Commercial - domestic⁽²⁾		216,332		2,144		3.93			231,639		2,212		3.83			224,117		2,820		5.01
Commercial real estate		74,276		600		3.20			75,559		627		3.33			63,220		727		4.57
Commercial lease financing		22,068		178		3.22			22,026		260		4.72			22,585		53		0.93
Commercial - foreign		31,533		297		3.74			34,024		360		4.24			33,467		377		4.48
Total commercial		344,209		3,219		3.71			363,248		3,459		3.82			343,389		3,977		4.61
Total loans and leases		930,255		11,720		5.01			966,105		12,449		5.16			946,914		14,299		6.02
Other earning assets ⁽²⁾		131,021		1,333		4.05			134,338		1,251		3.73			72,141		1,069		5.90
Total earning assets - excluding hedge impact		1,790,000		18,989		4.22			1,811,981		19,915		4.40			1,622,466		22,486		5.53
Net hedge income (expense) on assets				(136	)						(11	)						(12	)
Total earning assets - including hedge impact		1,790,000		18,853		4.19			1,811,981		19,904		4.40			1,622,466		22,474		5.52
Cash and cash equivalents		196,116							204,354							36,030
Other assets, less allowance for loan and lease losses		404,559							403,982							247,195
Total assets	$	2,390,675						$	2,420,317						$	1,905,691

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	34,170	$	49		0.57	%	$	34,367	$	54		0.63	%	$	32,297	$	58		0.72		%
NOW and money market deposit accounts⁽²⁾		356,873		353		0.39			342,570		376		0.44			278,552		973		1.39
Consumer CDs and IRAs⁽²⁾		214,284		1,054		1.95			229,392		1,350		2.36			218,862		1,765		3.21
Negotiable CDs, public funds and other time deposits⁽²⁾		48,905		114		0.92			39,100		119		1.24			36,039		288		3.18
Total domestic interest-bearing deposits		654,232		1,570		0.95			645,429		1,899		1.18			565,750		3,084		2.17
Foreign interest-bearing deposits:
Banks located in foreign countries⁽²⁾		15,941		14		0.37			19,261		24		0.48			36,230		279		3.07
Governments and official institutions		6,488		4		0.23			7,379		4		0.22			11,847		72		2.43
Time, savings and other		53,013		57		0.42			54,307		78		0.58			48,209		334		2.76
Total foreign interest-bearing deposits		75,442		75		0.40			80,947		106		0.52			96,286		685		2.84
Total interest-bearing deposits		729,674		1,645		0.90			726,376		2,005		1.11			662,036		3,769		2.27
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings ⁽²⁾		411,063		1,059		1.02			503,451		1,157		0.92			465,511		2,938		2.51
Trading account liabilities		73,290		455		2.46			62,778		450		2.87			73,702		661		3.57
Long-term debt⁽²⁾		449,974		4,814		4.26			444,131		4,900		4.42			264,934		3,100		4.68
Total interest-bearing liabilities - excluding hedge impact		1,664,001		7,973		1.90			1,736,736		8,512		1.96			1,466,183		10,468		2.84
Net hedge (income) expense on liabilities				(873	)						(550	)						86
Total interest-bearing liabilities - including hedge impact		1,664,001		7,100		1.70			1,736,736		7,962		1.84			1,466,183		10,554		2.86
Noninterest-bearing sources:
Noninterest-bearing deposits		259,621							248,516							195,809
Other liabilities		211,070							192,198							77,245
Shareholders’ equity		255,983							242,867							166,454
Total liabilities and shareholders’ equity	$	2,390,675						$	2,420,317						$	1,905,691
Net interest spread						2.32							2.44							2.69
Impact of noninterest-bearing sources						0.12							0.08							0.27
Net interest income/yield on earning assets - excluding hedge impact			$	11,016		2.44	%			$	11,403		2.52	%			$	12,018		2.96		%
Net impact of hedge income (expense)				737		0.17					539		0.12					(98	)	(0.03	)
Net interest income/yield on earning assets			$	11,753		2.61	%			$	11,942		2.64	%			$	11,920		2.93		%
(1) This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk management derivatives is not material to the average balances presented above. (2) The impact of interest rate risk management derivatives on interest income and interest expense is presented below. Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:
			Third Quarter 2009							Second Quarter 2009							Third Quarter 2008
Time deposits placed and other short-term investments			$	—						$	(3	)					$	(4	)
Federal funds sold and securities borrowed or purchased under agreements to resell				95							62							(36	)
Trading account assets				(6	)						—							—
Debt securities				(213	)						(34	)						(3	)
Commercial - domestic				(12	)						(36	)						32
Other earning assets				0							—							(1	)

Net hedge income (expense) on assets			$	(136	)					$	(11	)					$	(12	)


Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

NOW and money market deposit accounts			$	—						$	—						$	—
Consumer CDs and IRAs				46							59							87
Negotiable CDs, public funds and other time deposits				4							5							3
Banks located in foreign countries				15							13							(13	)
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings				178							239							285
Long-term debt				(1,116	)						(866	)						(276	)

Net hedge (income) expense on liabilities			$	(873	)					$	(550	)					$	86

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		9

Bank of America Corporation and Subsidiaries

Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis

(Dollars in millions)


	Nine Months Ended September 30
	2009						2008
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	27,094	$	493	2.43	%	$	10,758	$	282	3.50	%
Federal funds sold and securities borrowed or purchased under agreements to resell		232,680		2,567	1.47			135,846		2,920	2.87
Trading account assets		216,462		6,436	3.97			188,894		7,089	5.01
Debt securities ⁽¹⁾		268,291		10,303	5.12			240,347		9,470	5.25
Loans and leases ⁽²⁾:
Residential mortgage⁽³⁾		253,531		10,427	5.49			262,488		11,061	5.62
Home equity		156,128		5,123	4.38			129,392		5,652	5.83
Discontinued real estate		18,078		908	6.70			7,397		399	7.19
Credit card - domestic		53,444		4,330	10.83			62,784		5,059	10.76
Credit card - foreign		18,973		1,517	10.69			16,297		1,521	12.47
Direct/Indirect consumer⁽⁴⁾		100,349		4,655	6.20			82,242		5,220	8.48
Other consumer ⁽⁵⁾		3,346		187	7.43			3,908		251	8.58
Total consumer		603,849		27,147	6.00			564,508		29,163	6.90
Commercial - domestic		229,462		6,793	3.96			218,702		8,812	5.38
Commercial real estate ⁽⁶⁾		74,021		1,777	3.21			62,746		2,351	5.00
Commercial lease financing		22,050		717	4.33			22,364		557	3.32
Commercial - foreign		33,878		1,119	4.42			32,254		1,130	4.68
Total commercial		359,411		10,406	3.87			336,066		12,850	5.11
Total loans and leases		963,260		37,553	5.21			900,574		42,013	6.23
Other earning assets		129,919		3,883	3.99			68,198		3,202	6.27
Total earning assets ⁽⁷⁾		1,837,706		61,235	4.45			1,544,617		64,976	5.61
Cash and cash equivalents		184,650						34,598
Other assets, less allowance for loan and lease losses		420,549						229,550
Total assets	$	2,442,905					$	1,808,765

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	33,645	$	161	0.64	%	$	32,419	$	172	0.71	%
NOW and money market deposit accounts		347,603		1,169	0.45			261,918		2,968	1.51
Consumer CDs and IRAs		226,555		4,219	2.49			195,318		5,569	3.81
Negotiable CDs, public funds and other time deposits		39,649		391	1.32			30,838		806	3.49
Total domestic interest-bearing deposits		647,452		5,940	1.23			520,493		9,515	2.44
Foreign interest-bearing deposits:
Banks located in foreign countries		20,381		114	0.75			36,401		938	3.44
Governments and official institutions		7,893		14	0.23			12,758		281	2.94
Time, savings and other		55,214		267	0.65			52,211		1,220	3.12
Total foreign interest-bearing deposits		83,488		395	0.63			101,370		2,439	3.21
Total interest-bearing deposits		730,940		6,335	1.16			621,863		11,954	2.57
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		501,485		4,854	1.29			454,355		10,452	3.07
Trading account liabilities		68,530		1,484	2.90			75,553		2,250	3.98
Long-term debt		447,038		12,048	3.60			223,017		7,172	4.29
Total interest-bearing liabilities ⁽⁷⁾		1,747,993		24,721	1.89			1,374,788		31,828	3.09
Noninterest-bearing sources:
Noninterest-bearing deposits		245,242						188,800
Other liabilities		207,032						84,287
Shareholders’ equity		242,638						160,890
Total liabilities and shareholders’ equity	$	2,442,905					$	1,808,765
Net interest spread					2.56	%					2.52	%
Impact of noninterest-bearing sources					0.09						0.34
Net interest income/yield on earning assets			$	36,514	2.65	%			$	33,148	2.86	%

(1)

Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.

(2)

(3)

Includes foreign residential mortgages of $647 million for the nine months ended September 30, 2009.

(4)

Includes foreign consumer loans of $7.8 billion and $3.0 billion for the nine months ended September 30, 2009 and 2008.

(5)

Includes consumer finance loans of $2.5 billion and $2.8 billion, and other foreign consumer loans of $646 million and $814 million for the nine months ended September 30, 2009 and 2008.

(6)

Includes domestic commercial real estate loans of $71.5 billion and $61.6 billion, and foreign commercial real estate loans of $2.5 billion and $1.1 billion for the nine months ended September 30, 2009 and 2008.

(7)

Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $208 million and $219 million for the nine months ended September 30, 2009 and 2008. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on the underlying liabilities $(1.9) billion and $172 million for the nine months ended September 30, 2009 and 2008.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		10

Bank of America Corporation and Subsidiaries

Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Hedge Income/Expense ⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30
	2009							2008
	Average Balance		Interest Income/ Expense			Yield/ Rate		Average Balance		Interest Income/ Expense			Yield/ Rate
Earning assets
Time deposits placed and other short-term investments⁽²⁾	$	27,094	$	496		2.45	%	$	10,758	$	294		3.65		%
Federal funds sold and securities borrowed or purchased under agreements to resell⁽²⁾		232,680		2,413		1.39			135,846		3,093		3.04
Trading account assets ⁽²⁾		216,462		6,442		3.97			188,894		7,089		5.01
Debt securities ⁽²⁾		268,291		10,578		5.26			240,347		9,474		5.26
Loans and leases:
Residential mortgage		253,531		10,427		5.49			262,488		11,061		5.62
Home equity		156,128		5,123		4.38			129,392		5,652		5.83
Discontinued real estate		18,078		908		6.70			7,397		399		7.19
Credit card - domestic		53,444		4,330		10.83			62,784		5,059		10.76
Credit card - foreign		18,973		1,517		10.69			16,297		1,521		12.47
Direct/Indirect consumer		100,349		4,655		6.20			82,242		5,220		8.48
Other consumer		3,346		187		7.43			3,908		251		8.58
Total consumer		603,849		27,147		6.00			564,508		29,163		6.90
Commercial - domestic⁽²⁾		229,462		6,871		4.00			218,702		8,840		5.40
Commercial real estate		74,021		1,777		3.21			62,746		2,351		5.00
Commercial lease financing		22,050		717		4.33			22,364		557		3.32
Commercial - foreign		33,878		1,119		4.42			32,254		1,130		4.68
Total commercial		359,411		10,484		3.90			336,066		12,878		5.12
Total loans and leases		963,260		37,631		5.22			900,574		42,041		6.21
Other earning assets⁽²⁾		129,919		3,883		3.99			68,198		3,204		6.27
Total earning assets - excluding hedge impact		1,837,706		61,443		4.47			1,544,617		65,195		5.62
Net hedge income (expense) on assets				(208	)						(219	)
Total earning assets - including hedge impact		1,837,706		61,235		4.45			1,544,617		64,976		5.61
Cash and cash equivalents		184,650							34,598
Other assets, less allowance for loan and lease losses		420,549							229,550
Total assets	$	2,442,905						$	1,808,765

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	33,645	$	161		0.64	%	$	32,419	$	172		0.71		%
NOW and money market deposit accounts⁽²⁾		347,603		1,170		0.45			261,918		2,958		1.51
Consumer CDs and IRAs⁽²⁾		226,555		4,050		2.39			195,318		5,250		3.59
Negotiable CDs, public funds and other time deposits⁽²⁾		39,649		379		1.28			30,838		799		3.46
Total domestic interest-bearing deposits		647,452		5,760		1.19			520,493		9,179		2.36
Foreign interest-bearing deposits:
Banks located in foreign countries⁽²⁾		20,381		79		0.52			36,401		949		3.48
Governments and official institutions		7,893		14		0.23			12,758		281		2.94
Time, savings and other		55,214		267		0.65			52,211		1,220		3.12
Total foreign interest-bearing deposits		83,488		360		0.58			101,370		2,450		3.23
Total interest-bearing deposits		730,940		6,120		1.12			621,863		11,629		2.50
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings ⁽²⁾		501,485		4,131		1.10			454,355		10,052		2.95
Trading account liabilities		68,530		1,484		2.90			75,553		2,250		3.98
Long-term debt⁽²⁾		447,038		14,921		4.46			223,017		7,725		4.62
Total interest-bearing liabilities - excluding hedge impact		1,747,993		26,656		2.04			1,374,788		31,656		3.07
Net hedge (income) expense on liabilities				(1,935	)						172
Total interest-bearing liabilities - including hedge impact		1,747,993		24,721		1.89			1,374,788		31,828		3.09
Noninterest-bearing sources:
Noninterest-bearing deposits		245,242							188,800
Other liabilities		207,032							84,287
Shareholders’ equity		242,638							160,890
Total liabilities and shareholders’ equity	$	2,442,905						$	1,808,765
Net interest spread						2.43							2.55
Impact of noninterest-bearing sources						0.09							0.34
Net interest income/yield on earning assets - excluding hedge impact			$	34,787		2.52	%			$	33,539		2.89		%
Net impact of hedge income (expense)				1,727		0.13					(391	)	(0.03	)
Net interest income/yield on earning assets			$	36,514		2.65	%			$	33,148		2.86		%

(1)

This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk management derivatives is not material to the average balances presented above.

(2)

The impact of interest rate risk management derivatives on interest income and interest expense is presented below.

Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:


	Nine Months Ended September 30
	2009			2008
Time deposits placed and other short-term investments	$	(3	)	$	(12	)
Federal funds sold and securities borrowed or purchased under agreements to resell		154			(173	)
Trading account assets		(6	)		—
Debt securities		(275	)		(4	)
Commercial - domestic		(78	)		(28	)
Other earning assets		—			(2	)
Net hedge income (expense) on assets	$	(208	)	$	(219	)

Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

NOW and money market deposit accounts	$	(1	)	$	10
Consumer CDs and IRAs		169			319
Negotiable CDs, public funds and other time deposits		12			7
Banks located in foreign countries		35			(11	)
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		723			400
Long-term debt		(2,873	)		(553	)
Net hedge (income) expense on liabilities	$	(1,935	)	$	172

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		11

Bank of America Corporation and Subsidiaries

Debt Securities and Available-for-Sale Marketable Equity Securities

(Dollars in millions)


	September 30, 2009
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
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

Held-to-maturity debt securities ⁽²⁾		9,545		—		(1,666	)		7,879

Total debt securities	$	257,768	$	6,258	$	(8,947	)	$	255,079

Available-for-sale marketable equity securities ⁽³⁾	$	6,189	$	3,172	$	(612	)	$	8,749


	June 30, 2009
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury securities and agency debentures	$	14,545	$	383	$	(12	)	$	14,916
Mortgage-backed securities:
Agency MBSs		135,348		2,330		(210	)		137,468
Agency collateralized mortgage obligations		17,573		401		(112	)		17,862
Non-agency MBSs		48,222		2,179		(7,945	)		42,456
Foreign securities		5,405		24		(1,204	)		4,225
Corporate/Agency bonds		5,794		101		(412	)		5,483
Other taxable securities ⁽¹⁾		23,198		150		(749	)		22,599

Total taxable securities		250,085		5,568		(10,644	)		245,009
Tax-exempt securities		13,032		85		(607	)		12,510

Total available-for-sale debt securities	$	263,117	$	5,653	$	(11,251	)	$	257,519

Held-to-maturity debt securities ⁽²⁾		9,719		—		(1,875	)		7,844

Total debt securities	$	272,836	$	5,653	$	(13,126	)	$	265,363

Available-for-sale marketable equity securities ⁽³⁾	$	6,427	$	1,495	$	(947	)	$	6,975

(1)

Includes asset-backed securities.

(2)

Includes asset-backed securities that were issued by the Corporation’s 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 September 30, 2009 and $7.4 billion and $5.5 billion at June 30, 2009.

(3)

Represents those available-for-sale marketable equity securities that are recorded in other assets on the Consolidated Balance Sheet.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		12

Bank of America Corporation and Subsidiaries

Quarterly Results by Business Segment

(Dollars in millions)


	Third Quarter 2009
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other⁽¹⁾
Net interest income ⁽²⁾	$	11,753		$	1,740	$	4,995		$	1,309		$	2,784	$	1,462		$	1,330	$	(1,867	)
Noninterest income		14,612			1,926		2,332			2,102			1,886		4,365			2,765		(764	)

Total revenue, net of interest expense		26,365			3,666		7,327			3,411			4,670		5,827			4,095		(2,631	)

Provision for credit losses		11,705			102		6,975			2,897			2,340		98			515		(1,222	)
Noninterest expense		16,306			2,336		1,968			3,041			2,258		2,328			3,169		1,206

Income (loss) before income taxes		(1,646	)		1,228		(1,616	)		(2,527	)		72		3,401			411		(2,615	)
Income tax expense (benefit) ⁽²⁾		(645	)		430		(580	)		(895	)		32		1,211			140		(983	)

Net income (loss)	$	(1,001	)	$	798	$	(1,036	)	$	(1,632	)	$	40	$	2,190		$	271	$	(1,632	)


Average
Total loans and leases	$	930,255			n/m	$	213,340		$	132,599		$	308,764		n/m		$	101,181	$	147,666
Total assets ⁽³⁾		2,390,675		$	443,982		228,384			236,200			405,178	$	633,909			239,113		n/m
Total deposits		989,295			418,511		n/m			n/m			214,286		n/m			214,994		108,244
Allocated equity		255,983			23,874		41,037			24,669			61,327		43,739			19,258		42,079

Period end
Total loans and leases	$	914,266			n/m	$	207,727		$	134,255		$	300,814		n/m		$	99,307	$	145,856
Total assets ⁽³⁾		2,251,043		$	442,274		223,980			234,842			381,041	$	588,641			249,110		n/m
Total deposits		974,899			416,949		n/m			n/m			210,211		n/m			220,482		94,573

	Second Quarter 2009
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	11,942		$	1,741	$	5,052		$	1,196		$	2,768	$	1,515		$	1,292	$	(1,622	)
Noninterest income		21,144			1,749		2,287			3,264			5,960		2,968			2,878		2,038

Total revenue, net of interest expense		33,086			3,490		7,339			4,460			8,728		4,483			4,170		416

Provision for credit losses		13,375			96		7,741			2,726			2,584		(1	)		238		(9	)
Noninterest expense		17,020			2,637		1,977			2,828			2,292		2,570			3,297		1,419

Income (loss) before income taxes		2,691			757		(2,379	)		(1,094	)		3,852		1,914			635		(994	)
Income tax expense (benefit) ⁽²⁾		(533	)		248		(762	)		(370	)		1,358		524			206		(1,737	)

Net income (loss)	$	3,224		$	509	$	(1,617	)	$	(724	)	$	2,494	$	1,390		$	429	$	743


Average
Total loans and leases	$	966,105			n/m	$	220,365		$	131,509		$	323,217		n/m		$	101,748	$	159,144
Total assets ⁽³⁾		2,420,317		$	440,804		236,016			232,361			389,496	$	656,331			237,442		n/m
Total deposits		974,892			415,501		n/m			n/m			203,917		n/m			215,383		104,382
Allocated equity		242,867			23,576		42,118			15,827			61,306		31,034			18,702		50,304

Period end
Total loans and leases	$	942,248			n/m	$	215,904		$	131,120		$	314,512		n/m		$	100,878	$	153,010
Total assets ⁽³⁾		2,254,394		$	446,650		231,987			234,388			382,594	$	572,702			233,662		n/m
Total deposits		970,742			421,648		n/m			n/m			208,098		n/m			207,581		99,495

	Third Quarter 2008
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	11,920		$	2,892	$	4,930		$	1,135		$	2,748	$	1,286		$	1,271	$	(2,342	)
Noninterest income		7,979			1,833		2,823			2,339			1,536		(1,125	)		299		274

Total revenue, net of interest expense		19,899			4,725		7,753			3,474			4,284		161			1,570		(2,068	)

Provision for credit losses		6,450			98		5,602			818			802		(24	)		150		(996	)
Noninterest expense		11,660			2,098		2,405			2,741			1,849		1,120			1,286		161

Income (loss) before income taxes		1,789			2,529		(254	)		(85	)		1,633		(935	)		134		(1,233	)
Income tax expense (benefit) ⁽²⁾		612			954		(87	)		(31	)		609		(347	)		54		(540	)

Net income (loss)	$	1,177		$	1,575	$	(167	)	$	(54	)	$	1,024	$	(588	)	$	80	$	(693	)


Average
Total loans and leases	$	946,914			n/m	$	239,951		$	122,034		$	320,813		n/m		$	88,255	$	146,305
Total assets ⁽³⁾		1,905,691		$	393,400		261,798			179,998			385,111	$	430,539			173,505		n/m
Total deposits		857,845			377,778		n/m			n/m			177,668		n/m			162,192		104,370
Allocated equity		166,454			24,088		39,008			16,236			50,558		12,127			11,677		12,760

Period end
Total loans and leases	$	942,676			n/m	$	235,998		$	122,975		$	326,970		n/m		$	89,004	$	146,365
Total assets ⁽³⁾		1,831,177		$	397,651		256,885			178,956			397,645	$	350,326			180,499		n/m
Total deposits		874,051			381,811		n/m			n/m			195,486		n/m			167,426		99,003

(1)

Global Card Services is presented on a managed basis with a corresponding offset recorded in All Other.

(2)

Fully taxable-equivalent basis

(3)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		13

Bank of America Corporation and Subsidiaries

Year-to-Date Results by Business Segment

(Dollars in millions)


	Nine Months Ended September 30, 2009
	Total Corporation		Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	36,514	$	5,382	$	15,312		$	3,691		$	8,378	$	4,870		$	4,280	$	(5,399	)
Noninterest income		59,017		5,178		6,869			9,410			9,722		12,366			8,326		7,146

Total revenue, net of interest expense		95,531		10,560		22,181			13,101			18,100		17,236			12,606		1,747

Provision for credit losses		38,460		289		23,157			8,995			6,772		148			1,007		(1,908	)
Noninterest expense		50,328		7,318		6,024			8,519			7,131		7,962			9,747		3,627

Income (loss) before income taxes		6,743		2,953		(7,000	)		(4,413	)		4,197		9,126			1,852		28
Income tax expense (benefit) ⁽²⁾		273		1,041		(2,473	)		(1,563	)		1,494		3,099			650		(1,975	)

Net income (loss)	$	6,470	$	1,912	$	(4,527	)	$	(2,850	)	$	2,703	$	6,027		$	1,202	$	2,003


Average
Total loans and leases	$	963,260		n/m	$	220,666		$	129,910		$	320,904		n/m		$	104,454	$	158,721
Total assets ⁽³⁾		2,442,905	$	428,945		236,937			229,321			387,725	$	664,690			251,512		n/m
Total deposits		976,182		403,587		n/m			n/m			205,285		n/m			226,967		106,944
Allocated equity		242,638		23,646		41,177			18,337			59,993		34,121			18,368		46,996

Period end
Total loans and leases	$	914,266		n/m	$	207,727		$	134,255		$	300,814		n/m		$	99,307	$	145,856
Total assets ⁽³⁾		2,251,043	$	442,274		223,980			234,842			381,041	$	588,641			249,110		n/m
Total deposits		974,899		416,949		n/m			n/m			210,211		n/m			220,482		94,573

	Nine Months Ended September 30, 2008
	Total Corporation		Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	33,148	$	7,999	$	14,279		$	2,305		$	7,641	$	3,618		$	3,449	$	(6,143	)
Noninterest income		24,848		5,183		8,923			3,753			5,096		(2,894	)		2,370		2,417

Total revenue, net of interest expense		57,996		13,182		23,202			6,058			12,737		724			5,819		(3,726	)

Provision for credit losses		18,290		293		14,314			4,664			1,728		(63	)		512		(3,158	)
Noninterest expense		30,582		6,566		6,980			4,211			5,505		2,802			3,841		677

Income (loss) before income taxes		9,124		6,323		1,908			(2,817	)		5,504		(2,015	)		1,466		(1,245	)
Income tax expense (benefit) ⁽²⁾		3,327		2,374		664			(1,042	)		2,064		(752	)		553		(534	)

Net income (loss)	$	5,797	$	3,949	$	1,244		$	(1,775	)	$	3,440	$	(1,263	)	$	913	$	(711	)


Average
Total loans and leases	$	900,574		n/m	$	237,817		$	100,237		$	314,031		n/m		$	87,162	$	132,615
Total assets ⁽³⁾		1,808,765	$	374,234		260,475			128,333			377,832	$	440,311			166,013		n/m
Total deposits		810,663		350,765		n/m			n/m			170,162		n/m			156,762	$	104,143
Allocated equity		160,890		24,429		38,814			7,515			49,547		11,937			11,674		16,974

Period end
Total loans and leases	$	942,676		n/m	$	235,998		$	122,975		$	326,970		n/m		$	89,004	$	146,365
Total assets ⁽³⁾		1,831,177	$	397,651		256,885			178,956			397,645	$	350,326			180,499		n/m
Total deposits		874,051		381,811		n/m			n/m			195,486		n/m			167,426		99,003

(1)

Global Card Services is presented on a managed basis with a corresponding offset recorded in All Other.

(2)

Fully taxable-equivalent basis

(3)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		14

Bank of America Corporation and Subsidiaries

Deposits Segment Results ⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30						Third Quarter 2009			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008
	Nine Months Ended September 30
	2009			2008
Net interest income ⁽²⁾	$	5,382		$	7,999		$	1,740		$	1,741		$	1,901		$	2,971		$	2,892
Noninterest income:
Service charges		5,156			5,125			1,906			1,748			1,502			1,675			1,820
All other income		22			58			20			1			1			11			13

Total noninterest income		5,178			5,183			1,926			1,749			1,503			1,686			1,833

Total revenue, net of interest expense		10,560			13,182			3,666			3,490			3,404			4,657			4,725

Provision for credit losses		289			293			102			96			91			107			98
Noninterest expense		7,318			6,566			2,336			2,637			2,345			2,215			2,098

Income before income taxes		2,953			6,323			1,228			757			968			2,335			2,529
Income tax expense ⁽²⁾		1,041			2,374			430			248			363			772			954

Net income	$	1,912		$	3,949		$	798		$	509		$	605		$	1,563		$	1,575

Net interest yield ⁽²⁾		1.79	%		3.10	%		1.66	%		1.69	%		2.05	%		3.22	%		3.13	%
Return on average equity		10.81			21.59			13.26			8.66			10.44			25.39			26.01
Efficiency ratio ⁽²⁾		69.30			49.82			63.72			75.54			68.91			47.58			44.41

Balance sheet

Average
Total earning assets ⁽³⁾	$	402,318		$	344,312		$	417,095		$	414,200		$	375,199		$	366,661		$	367,824
Total assets ⁽³⁾		428,945			374,234			443,982			440,804			401,584			393,463			393,400
Total deposits		403,587			350,765			418,511			415,501			376,285			377,987			377,778
Allocated equity		23,646			24,429			23,874			23,576			23,484			24,493			24,088

Period end
Total earning assets ⁽³⁾	$	415,508		$	370,507		$	415,508		$	420,465		$	389,435		$	363,334		$	370,507
Total assets ⁽³⁾		442,274			397,651			442,274			446,650			415,765			390,487			397,651
Total deposits		416,949			381,811			416,949			421,648			390,245			375,763			381,811

(1)

Deposits includes the net impact of migrating customers and their related deposit balances between Global Wealth & Investment Management (GWIM) and Deposits. After migration, the associated net interest income, service charges and noninterest expense are recorded in the appropriate segment.

(2)

Fully taxable-equivalent basis

(3)

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		15

Bank of America Corporation and Subsidiaries

Deposits Key Indicators

(Dollars in millions, except as noted)


	Nine Months Ended September 30							Third Quarter				Second Quarter				First Quarter				Fourth Quarter			Third Quarter
	2009				2008			2009				2009				2009				2008			2008
Average deposit balances
Checking	$	132,586			$	126,208		$	136,603			$	135,356			$	125,679			$	124,212		$	125,417
Savings		31,485				29,437			32,374				32,488				29,564				28,687			29,392
MMS		89,438				71,870			98,659				91,275				78,154				80,391			80,041
CDs and IRAs		146,823				120,138			147,844				152,828				139,708				141,499			139,185
Foreign and other		3,255				3,112			3,031				3,554				3,180				3,198			3,743

Total average deposit balances	$	403,587			$	350,765		$	418,511			$	415,501			$	376,285			$	377,987		$	377,778


Total balances migrated to (from) GWIM	$	(43,400	)		$	15,934		$	(2,920	)		$	(34,340	)		$	(6,140	)		$	4,542		$	3,272

Deposit spreads (excludes noninterest costs)
Checking		4.06		%		4.22	%		3.93		%		4.07		%		4.18		%		4.25	%		4.23	%
Savings		3.86				3.80			3.83				3.87				3.89				3.82			3.80
MMS		0.36				1.32			0.58				0.55				(0.14	)			0.91			1.15
CDs and IRAs		0.04				0.34			(0.01	)			0.05				0.09				0.26			0.14
Foreign and other		3.62				3.69			3.46				3.68				3.72				3.60			3.81
Total deposit spreads		1.74				2.23			1.72				1.78				1.71				1.99			2.01

Net new retail checking (units in thousands)		433				2,054			39				176				218				130			823

Online banking (end of period)

Active accounts (units in thousands)		29,736				28,636			29,736				29,196				29,515				28,854			28,636
Active billpay accounts (units in thousands)		15,998				15,732			15,998				16,000				16,031				15,861			15,732

LOGO

Bank of America has the largest active online banking customer base with 29.7 million subscribers.

Bank of America uses a strict Active User standard - customers must have used our online services within the last 90 days.

16.0 million active bill pay users paid $79.6 billion worth of bills this quarter. The number of customers who sign up and use Bank of America’s Bill Pay Service continues to surpass that of any other financial institution.

Currently, approximately 330 companies are presenting 39.1 million e-bills per quarter.

Certain prior period amounts have been reclassified to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		16

Bank of America Corporation and Subsidiaries

Global Card Services Segment Results ⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30							Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2009				2008			2009				2009				2009				2008				2008
Net interest income ⁽²⁾	$	15,312			$	14,279		$	4,995			$	5,052			$	5,265			$	5,310			$	4,930
Noninterest income:
Card income		6,462				7,564			2,183				2,164				2,115				2,469				2,289
All other income		407				1,359			149				123				135				239				534

Total noninterest income		6,869				8,923			2,332				2,287				2,250				2,708				2,823

Total revenue, net of interest expense		22,181				23,202			7,327				7,339				7,515				8,018				7,753

Provision for credit losses ⁽³⁾		23,157				14,314			6,975				7,741				8,441				5,851				5,602
Noninterest expense		6,024				6,980			1,968				1,977				2,079				2,179				2,405

Income (loss) before income taxes		(7,000	)			1,908			(1,616	)			(2,379	)			(3,005	)			(12	)			(254	)
Income tax expense (benefit) ⁽²⁾		(2,473	)			664			(580	)			(762	)			(1,131	)			(3	)			(87	)

Net income (loss)	$	(4,527	)		$	1,244		$	(1,036	)		$	(1,617	)		$	(1,874	)		$	(9	)		$	(167	)


Net interest yield ⁽²⁾		9.29		%		8.01	%		9.30		%		9.20		%		9.35		%		9.05		%		8.16		%
Return on average equity		n/m				4.28			n/m				n/m				n/m				n/m				n/m
Efficiency ratio ⁽²⁾		27.16				30.09			26.87				26.94				27.66				27.18				31.03

Balance sheet

Average
Total loans and leases	$	220,666			$	237,817		$	213,340			$	220,365			$	228,461			$	233,427			$	239,951
Total earning assets		220,466				238,204			212,976				220,133				228,460				233,513				240,298
Total assets		236,937				260,475			228,384				236,016				246,610				253,455				261,798
Allocated equity		41,177				38,814			41,037				42,118				40,370				40,294				39,008

Period end
Total loans and leases	$	207,727			$	235,998		$	207,727			$	215,904			$	221,984			$	233,040			$	235,998
Total earning assets		207,520				236,157			207,520				215,633				221,794				233,094				236,157
Total assets		223,980				256,885			223,980				231,987				238,410				252,683				256,885

(1)

Presented on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - Global Card Services - Reconciliation on page 44).

(2)

Fully taxable-equivalent basis

(3)

Represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		17

Bank of America Corporation and Subsidiaries

Global Card Services Key Indicators

(Dollars in millions)


	Nine Months Ended September 30						Third Quarter			Second Quarter				First Quarter				Fourth Quarter			Third Quarter
	2009			2008			2009			2009				2009				2008			2008
Credit Card Data ⁽¹⁾

Loans
Average
Held credit card outstandings	$	72,417		$	79,081		$	70,940		$	70,546			$	75,818			$	82,117		$	80,489
Securitization impact		100,727			106,177			97,520			102,046				102,672				99,116			105,919

Managed credit card outstandings	$	173,144		$	185,258		$	168,460		$	172,592			$	178,490			$	181,233		$	186,408

Period end
Held credit card outstandings	$	70,206		$	81,350		$	70,206		$	69,377			$	67,960			$	81,274		$	81,350
Securitization impact		94,328			102,048			94,328			100,438				105,392				100,960			102,048

Managed credit card outstandings	$	164,534		$	183,398		$	164,534		$	169,815			$	173,352			$	182,234		$	183,398


Credit Quality
Charge-offs $
Held net charge-offs	$	5,845		$	3,306		$	2,169		$	2,064			$	1,612			$	1,406		$	1,242
Securitization impact		8,473			4,813			3,308			2,983				2,182				1,857			1,754

Managed credit card net losses	$	14,318		$	8,119		$	5,477		$	5,047			$	3,794			$	3,263		$	2,996

Charge-offs %
Held net charge-offs		10.79	%		5.58	%		12.13	%		11.74		%		8.62		%		6.82	%		6.14	%
Securitization impact		0.27			0.27			0.77			(0.01	)			—				0.34			0.26

Managed credit card net losses		11.06	%		5.85	%		12.90	%		11.73		%		8.62		%		7.16	%		6.40	%

30+ Delinquency $
Held delinquency	$	5,054		$	4,675		$	5,054		$	5,221			$	5,365			$	5,324		$	4,675
Securitization impact		7,047			6,126			7,047			7,748				8,246				6,844			6,126

Managed delinquency	$	12,101		$	10,801		$	12,101		$	12,969			$	13,611			$	12,168		$	10,801

30+ Delinquency %
Held delinquency		7.20	%		5.75	%		7.20	%		7.53		%		7.90		%		6.55	%		5.75	%
Securitization impact		0.15			0.14			0.15			0.11				(0.05	)			0.13			0.14

Managed delinquency		7.35	%		5.89	%		7.35	%		7.64		%		7.85		%		6.68	%		5.89	%

90+ Delinquency $
Held delinquency	$	2,593		$	2,330		$	2,593		$	2,894			$	2,816			$	2,565		$	2,330
Securitization impact		3,600			2,958			3,600			4,263				4,106				3,185			2,958

Managed delinquency	$	6,193		$	5,288		$	6,193		$	7,157			$	6,922			$	5,750		$	5,288

90+ Delinquency %
Held delinquency		3.69	%		2.87	%		3.69	%		4.17		%		4.14		%		3.16	%		2.87	%
Securitization impact		0.07			0.01			0.07			0.04				(0.15	)			—			0.01

Managed delinquency		3.76	%		2.88	%		3.76	%		4.21		%		3.99		%		3.16	%		2.88	%


Other Global Card Services Key Indicators

Managed credit card data
Gross interest yield		11.40	%		11.63	%		11.18	%		11.33		%		11.68		%		11.87	%		11.52	%
Risk adjusted margin		2.06			6.60			0.26			1.28				4.56				6.38			6.67
New account growth (in thousands)		3,201			7,044			1,014			957				1,230				1,432			1,765
Purchase volumes	$	153,031		$	186,940		$	53,031		$	51,944			$	48,056			$	56,585		$	62,662

Debit Card Data
Debit purchase volumes	$	161,055		$	157,581		$	54,764		$	55,158			$	51,133			$	52,925		$	53,252

(1)

Credit Card includes U.S., Europe and Canada consumer credit card. Does not include business card, debit card and consumer lending.

Certain prior period amounts have been reclassified to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		18

Bank of America Corporation and Subsidiaries

Home Loans & Insurance Segment Results

(Dollars in millions; except as noted)


	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2009				2008				2009				2009				2009				2008				2008
Net interest income ⁽¹⁾	$	3,691			$	2,305			$	1,309			$	1,196			$	1,186			$	1,006			$	1,135
Noninterest income:
Mortgage banking income		7,505				2,819				1,424				2,661				3,420				1,603				1,755
Insurance income		1,728				770				594				553				581				646				569
All other income		177				164				84				50				43				(2	)			15

Total noninterest income		9,410				3,753				2,102				3,264				4,044				2,247				2,339

Total revenue, net of interest expense		13,101				6,058				3,411				4,460				5,230				3,253				3,474

Provision for credit losses		8,995				4,664				2,897				2,726				3,372				1,623				818
Noninterest expense		8,519				4,211				3,041				2,828				2,650				2,752				2,741

Loss before income taxes		(4,413	)			(2,817	)			(2,527	)			(1,094	)			(792	)			(1,122	)			(85	)
Income tax benefit ⁽¹⁾		(1,563	)			(1,042	)			(895	)			(370	)			(298	)			(415	)			(31	)

Net loss	$	(2,850	)		$	(1,775	)		$	(1,632	)		$	(724	)		$	(494	)		$	(707	)		$	(54	)

Net interest yield ⁽¹⁾		2.55		%		2.68		%		2.59		%		2.43		%		2.63		%		2.31		%		3.05		%
Efficiency ratio ⁽¹⁾		65.03				69.51				89.19				63.38				50.68				84.58				78.90

Balance sheet

Average
Total loans and leases	$	129,910			$	100,237			$	132,599			$	131,509			$	125,544			$	122,065			$	122,034
Total earning assets		193,802				115,076				200,539				197,758				182,915				173,152				148,209
Total assets		229,321				128,333				236,200				232,361				219,215				204,826				179,998
Allocated equity		18,337				7,515				24,669				15,827				14,403				15,477				16,236

Period end
Total loans and leases	$	134,255			$	122,975			$	134,255			$	131,120			$	131,332			$	122,947			$	122,975
Total earning assets		197,666				167,338				197,666				197,528				184,136				175,609				167,338
Total assets		234,842				178,956				234,842				234,388				221,547				205,046				178,956

Period end (in billions)
Mortgage servicing portfolio ⁽²⁾	$	2,148.3			$	2,026.2			$	2,148.3			$	2,111.9			$	2,112.8			$	2,057.3			$	2,026.2

(1)

Fully taxable-equivalent basis

(2)

Servicing of residential mortgage loans, home equity lines of credit, home equity loans and discontinued real estate mortgage loans.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		19

Bank of America Corporation and Subsidiaries

Home Loans & Insurance Key Indicators

(Dollars in millions, except as noted)


	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2009				2008				2009				2009				2009				2008				2008
Mortgage servicing rights at fair value rollforward:
Beginning balance	$	12,733			$	3,053			$	18,535			$	14,096			$	12,733			$	20,811			$	4,250
Countrywide balance, July 1, 2008		—				17,188				—				—				—				—				17,188
Merrill Lynch balance, January 1, 2009		209				—				—				—				209				—				—
Additions		4,693				1,910				1,738				1,706				1,249				677				875
Impact of customer payments		(2,888	)			(1,855	)			(906	)			(797	)			(1,185	)			(1,458	)			(1,425	)
Other changes in MSR		2,792				515				(1,828	)			3,530				1,090				(7,297	)			(77	)

Ending balance	$	17,539			$	20,811			$	17,539			$	18,535			$	14,096			$	12,733			$	20,811

Capitalized mortgage servicing rights
(% of loans serviced)		102		bps		126		bps		102		bps		109		bps		83		bps		77		bps		126		bps
Mortgage loans serviced for investors (in billions)	$	1,726			$	1,654			$	1,726			$	1,703			$	1,699			$	1,654			$	1,654

Loan production:
Home Loans & Insurance
First mortgage	$	273,473			$	86,184			$	90,319			$	104,082			$	79,072			$	42,761			$	49,625
Home equity		8,130				28,078				2,287				2,920				2,923				3,920				5,260
Total Corporation
First mortgage		291,517				95,899				95,654				110,645				85,218				44,611				51,539
Home equity		10,427				35,163				2,739				3,650				4,038				5,326				7,022

Mortgage banking income
Production income	$	4,435			$	1,428			$	1,110			$	1,675			$	1,650			$	691			$	749
Servicing income:
Servicing fees and ancillary income		4,635				2,041				1,600				1,514				1,521				1,487				1,526
Impact of customer payments		(2,888	)			(1,855	)			(906	)			(797	)			(1,185	)			(1,458	)			(1,425	)
Fair value changes of MSRs, net of economic hedge results		925				1,123				(519	)			143				1,301				783				823
Other servicing-related revenue		398				82				139				126				133				100				82

Total net servicing income		3,070				1,391				314				986				1,770				912				1,006

Total Home Loans & Insurance mortgage banking income		7,505				2,819				1,424				2,661				3,420				1,603				1,755
Other business segment mortgage banking income (loss)		(366	)			(255	)			(126	)			(134	)			(106	)			(80	)			(81	)

Total consolidated mortgage banking income	$	7,139			$	2,564			$	1,298			$	2,527			$	3,314			$	1,523			$	1,674

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		20

Bank of America Corporation and Subsidiaries

Global Banking Segment Results

(Dollars in millions)


	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2009				2008				2009				2009				2009				2008				2008
Net interest income ⁽¹⁾	$	8,378			$	7,641			$	2,784			$	2,768			$	2,826			$	3,114			$	2,748
Noninterest income:
Service charges		2,913				2,420				1,050				914				949				814				826
Investment banking income		2,040				956				604				793				643				415				241
All other income (loss)		4,769				1,720				232				4,253				284				(284	)			469

Total noninterest income		9,722				5,096				1,886				5,960				1,876				945				1,536

Total revenue, net of interest expense		18,100				12,737				4,670				8,728				4,702				4,059				4,284

Provision for credit losses		6,772				1,728				2,340				2,584				1,848				1,402				802
Noninterest expense		7,131				5,505				2,258				2,292				2,581				1,179				1,849

Income before income taxes		4,197				5,504				72				3,852				273				1,478				1,633
Income tax expense ⁽¹⁾		1,494				2,064				32				1,358				104				446				609

Net income	$	2,703			$	3,440			$	40			$	2,494			$	169			$	1,032			$	1,024

Net interest yield ⁽¹⁾		3.39		%		3.18		%		3.18		%		3.34		%		3.36		%		3.63		%		3.34		%
Return on average equity		6.02				9.27				0.26				16.32				1.19				7.65				8.06
Efficiency ratio ⁽¹⁾		39.40				43.22				48.35				26.25				54.90				29.05				43.15

Balance sheet

Average
Total loans and leases	$	320,904			$	314,031			$	308,764			$	323,217			$	330,974			$	331,115			$	320,813
Total earning assets		330,464				320,495				347,202				332,591				341,124				341,456				327,520
Total assets		387,725				377,832				405,178				389,496				398,014				397,556				385,111
Total deposits		205,285				170,162				214,286				203,917				197,468				199,465				177,668
Allocated equity		59,993				49,547				61,327				61,306				57,301				53,667				50,558

Period end
Total loans and leases	$	300,814			$	326,970			$	300,814			$	314,512			$	323,407			$	328,574			$	326,970
Total earning assets		324,965				338,408				324,965				323,745				333,228				338,915				338,408
Total assets		381,041				397,645				381,041				382,594				388,534				394,541				397,645
Total deposits		210,211				195,486				210,211				208,098				196,359				215,519				195,486
(1) Fully taxable-equivalent basis

Components of Investment Banking Income
(Dollars in millions)
	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2009				2008				2009				2009				2009				2008				2008
Investment banking income
Advisory ⁽¹⁾	$	807			$	362			$	186			$	292			$	329			$	184			$	109
Debt issuance		2,319				1,160				720				944				655				379				332
Equity issuance		1,071				400				406				508				157				224				50

Total Global Markets and Investment Banking		4,197				1,922				1,312				1,744				1,141				787				491
Other ⁽²⁾		(242	)			(277	)			(58	)			(98	)			(86	)			(169	)			(17	)

Total investment banking income	$	3,955			$	1,645			$	1,254			$	1,646			$	1,055			$	618			$	474

(1)

Advisory includes fees on debt and equity advisory and merger and acquisitions.

(2)

Represents the offset to fees paid on the Corporation’s transactions.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		21

Bank of America Corporation and Subsidiaries

Global Banking Key Indicators

(Dollars in millions)


	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2009				2008				2009				2009				2009				2008				2008
Global Banking revenue, net of interest expense
Global commercial banking	$	12,382			$	8,501			$	2,905			$	6,691			$	2,786			$	2,861			$	2,864
Global corporate and investment banking		5,718				4,236				1,765				2,037				1,916				1,198				1,420

Total revenue, net of interest expense ⁽¹⁾	$	18,100			$	12,737			$	4,670			$	8,728			$	4,702			$	4,059			$	4,284

Global Banking revenue, net of interest expense - by service segment
Business lending	$	7,091			$	6,011			$	2,303			$	2,353			$	2,435			$	2,210			$	2,024
Treasury services		9,171				6,325				1,798				5,540				1,833				2,198				2,162
Investment banking related ⁽²⁾		1,838				401				569				835				434				(349	)			98

Total revenue, net of interest expense ⁽¹⁾	$	18,100			$	12,737			$	4,670			$	8,728			$	4,702			$	4,059			$	4,284

Global Banking average deposit balances
Global commercial banking	$	126,631			$	105,082			$	132,766			$	127,133			$	119,853			$	118,415			$	107,142
Global corporate and investment banking		78,654				65,080				81,520				76,784				77,615				81,050				70,526

Total	$	205,285			$	170,162			$	214,286			$	203,917			$	197,468			$	199,465			$	177,668

Interest-bearing	$	82,013			$	87,384			$	80,509			$	79,059			$	86,537			$	100,259			$	89,217
Noninterest-bearing		123,272				82,778				133,777				124,858				110,931				99,206				88,451

Total	$	205,285			$	170,162			$	214,286			$	203,917			$	197,468			$	199,465			$	177,668

Global Banking loan spreads
Global commercial banking		1.95		%		1.74		%		2.06		%		1.96		%		1.83		%		1.85		%		1.74		%
Global corporate and investment banking		1.57				0.69				1.62				1.45				1.64				1.18				0.73
Provision for credit losses
Global commercial banking	$	5,443			$	1,601			$	1,899			$	1,992			$	1,552			$	1,036			$	671
Global corporate and investment banking		1,329				127				441				592				296				366				131

Total provision for credit losses	$	6,772			$	1,728			$	2,340			$	2,584			$	1,848			$	1,402			$	802

Credit quality ^{(3, 4)}
Reservable utilized criticized exposure
Global commercial banking	$	41,274			$	23,020			$	41,274			$	38,513			$	33,465			$	27,225			$	23,020
		18.81		%		9.93		%		18.81		%		16.82		%		14.36		%		11.63		%		9.93		%
Global corporate and investment banking	$	12,138			$	5,782			$	12,138			$	11,861			$	9,995			$	7,292			$	5,782
		11.20		%		4.63		%		11.20		%		10.44		%		8.45		%		5.91		%		4.63		%

Total reservable utilized criticized exposure	$	53,412			$	28,802			$	53,412			$	50,374			$	43,460			$	34,517			$	28,802
		16.29		%		8.07		%		16.29		%		14.70		%		12.37		%		9.66		%		8.07		%
Nonperforming assets
Global commercial banking	$	10,252			$	4,335			$	10,252			$	9,510			$	8,077			$	5,643			$	4,335
		4.84		%		1.93		%		4.84		%		4.31		%		3.60		%		2.50		%		1.93		%
Global corporate and investment banking	$	1,388			$	444			$	1,388			$	1,314			$	879			$	736			$	444
		1.55		%		0.43		%		1.55		%		1.40		%		0.88		%		0.71		%		0.43		%

Total nonperforming assets	$	11,640			$	4,779			$	11,640			$	10,824			$	8,956			$	6,379			$	4,779
		3.86		%		1.46		%		3.86		%		3.44		%		2.77		%		1.94		%		1.46		%
Average loans and leases by product
Commercial - domestic	$	164,161			$	160,316			$	153,493			$	164,673			$	174,548			$	175,260			$	163,886
Commercial real estate		63,343				59,800				62,883				64,609				62,532				61,395				60,196
Commercial lease financing		24,221				24,376				24,140				24,208				24,316				24,324				24,574
Commercial - foreign		26,253				27,346				24,890				27,051				26,840				28,546				28,429
Direct/Indirect consumer		41,488				40,444				42,022				41,233				41,201				40,144				42,205
Other		1,438				1,749				1,336				1,443				1,537				1,446				1,523

Total average loans and leases	$	320,904			$	314,031			$	308,764			$	323,217			$	330,974			$	331,115			$	320,813



(1) Total Global Banking revenue, net of interest expense	$	*18,100*			$	12,737			$	*4,670*			$	8,728			$	4,702			$	4,059			$	4,284
Less: Fair value option revenue share		*266*				(8	)			*162*				242				(138	)			(291	)			(13	)
Less: Impact of credit mitigation		*(233*	)			88				*(112*	)			(121	)			—				221				24

Global banking revenues, net of interest expense excluding fair value option revenue share and credit mitigation	$	*18,067*			$	12,657			$	*4,620*			$	8,607			$	4,840			$	4,129			$	4,273

(2)

Includes revenue and loss sharing with Global Markets for certain activities and positions.

(3)

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total reservable commercial utilized credit exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers’ acceptances.

(4)

Nonperforming assets are on an end-of-period basis and defined as nonperforming loans and leases plus foreclosed properties. The nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		22

Bank of America Corporation and Subsidiaries

Investment Banking Product Rankings


	Nine months ended September 30, 2009
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
High-yield corporate debt	1	15.0	%	1	17.6	%
Leveraged loans	1	14.3		1	21.5
Mortgage-backed securities	1	15.0		1	17.0
Asset-backed securities	2	14.8		2	18.2
Convertible debt	6	6.3		2	13.4
Common stock underwriting	5	5.9		4	11.4
Investment grade corporate debt	4	5.7		3	13.9
Syndicated loans	2	7.3		2	21.0
Net investment banking revenue	3	6.5		2	11.3
Announced mergers and acquisitions	6	16.1		5	26.0
Equity capital markets	5	6.0		4	11.8
Debt capital markets	4	6.0		2	12.4

Source: Dealogic data. Rankings based on deal volumes except for investment banking revenue rankings which reflect fees. Mergers and acquisition fees included in investment banking revenues reflect 10 percent fee credit at announcement and 90 percent fee credit at completion as per Dealogic. Mergers and acquisitions volume rankings are for announced transactions and provide credit only to the investment bank advising the parent company that is domiciled within that region. Each advisor receives full credit for the deal amount unless advising a minority stakeholder.

Highlights

Global top 3 rankings in:


High-yield corporate debt		Asset-backed securities
Leveraged loans		Syndicated loans
Mortgage-backed securities		Net investment banking revenue

U.S. top 3 rankings in:


High-yield corporate debt		Investment grade corporate debt
Leveraged loans		Syndicated loans
Mortgage-backed securities		Net investment banking revenue
Asset-backed securities		Debt capital markets
Convertible debt

Figures above include self-led transactions. Excluding self-led deals, global and U.S. asset-backed securities rankings were #1, U.S. investment grade corporate debt ranking was #2, global net investment banking revenue ranking was #3, and U.S. announced mergers and acquisitions ranking was #5, according to Dealogic data.

Information for periods beginning January 1, 2009 includes the Merrill Lynch acquisition.


This information is preliminary and based on company data available at the time of the presentation.		23

Bank of America Corporation and Subsidiaries

Global Markets Segment Results

(Dollars in millions)


	Nine Months Ended September 30							Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008			Third Quarter 2008
	2009				2008			Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008			Third Quarter 2008
Net interest income ⁽¹⁾	$	4,870			$	3,618		$	1,462			$	1,515			$	1,893			$	1,532		$	1,286
Noninterest income:
Investment and brokerage services		1,978				601			562				832				584				150			195
Investment banking income		1,940				966			635				820				485				371			251
Trading account profits (losses)		10,314				(1,918	)		3,380				2,014				4,920				(3,891	)		(499	)
All other income (loss)		(1,866	)			(2,543	)		(212	)			(698	)			(956	)			(2,717	)		(1,072	)

Total noninterest income (loss)		12,366				(2,894	)		4,365				2,968				5,033				(6,087	)		(1,125	)

Total revenue, net of interest expense		17,236				724			5,827				4,483				6,926				(4,555	)		161
Provision for credit losses		148				(63	)		98				(1	)			51				13			(24	)
Noninterest expense		7,962				2,802			2,328				2,570				3,064				1,105			1,120

Income (loss) before income taxes		9,126				(2,015	)		3,401				1,914				3,811				(5,673	)		(935	)
Income tax expense (benefit) ⁽¹⁾		3,099				(752	)		1,211				524				1,364				(2,020	)		(347	)

Net income (loss)	$	6,027			$	(1,263	)	$	2,190			$	1,390			$	2,447			$	(3,653	)	$	(588	)

Return on average equity		23.62		%		n/m			19.87		%		17.96		%		36.21		%		n/m			n/m
Efficiency ratio ⁽¹⁾		46.20				n/m			39.96				57.33				44.23				n/m			n/m
Sales and trading revenue
Fixed income, currency and commodities	$	11,511			$	(1,800	)	$	4,041			$	2,683			$	4,787			$	(5,823	)	$	(654	)
Equity income		3,952				760			1,265				1,198				1,489				(17	)		176

Total sales and trading revenue ⁽²⁾	$	15,463			$	(1,040	)	$	5,306			$	3,881			$	6,276			$	(5,840	)	$	(478	)

Balance sheet
Average
Total trading-related assets⁽³⁾	$	512,325			$	345,779		$	495,757			$	504,126			$	537,552			$	315,125		$	347,088
Total market-based earning assets		478,448				377,148			468,999				476,598				489,979				311,582			369,921
Total earning assets		488,603				382,500			476,450				486,062				503,595				317,636			375,009
Total assets		664,690				440,311			633,909				656,331				704,606				390,274			430,539
Allocated equity		34,121				11,937			43,739				31,034				27,409				15,525			12,127
Period end
Total trading-related assets⁽³⁾	$	448,293			$	275,703		$	448,293			$	435,396			$	441,015			$	244,174		$	275,703
Total market-based earning assets		418,931				282,260			418,931				401,334				381,102				237,452			282,260
Total earning assets		425,402				288,107			425,402				409,823				392,425				243,275			288,107
Total assets		588,641				350,326			588,641				572,702				583,607				306,693			350,326
Trading-related assets (average)
Trading account securities	$	202,096			$	185,083		$	198,336			$	190,523			$	217,640			$	167,463		$	186,455
Reverse repurchases		135,513				56,548			130,664				139,566				136,373				53,193			62,767
Securities borrowed		72,991				69,164			78,605				72,309				67,941				42,580			62,982
Derivative assets		101,725				34,984			88,152				101,728				115,598				51,889			34,884

Total trading-related assets ⁽³⁾	$	512,325			$	345,779		$	495,757			$	504,126			$	537,552			$	315,125		$	347,088



(1) Fully taxable-equivalent basis
(2) Sales and trading revenue represents total Global Markets revenue, net of interest expense as adjusted by the following items:
Total Global Markets revenue, net of interest expense	$	*17,236*			$	724		$	*5,827*			$	4,483			$	6,926			$	(4,555	)	$	161
Investment banking income		*(1,940*	)			(966	)		*(635*	)			(820	)			(485	)			(371	)		(251	)
Fair value option net interest income		*(204*	)			(93	)		*(65*	)			(72	)			(67	)			(46	)		(33	)
Revenue (loss) shared		*318*				(481	)		*179*				269				(130	)			(868	)		(131	)
(Gain) loss on sale of prime brokerage business		53				(224	)		—				21				32				—			(224	)

Total sales and trading revenue	$	*15,463*			$	(1,040	)	$	*5,306*			$	3,881			$	6,276			$	(5,840	)	$	(478	)

(3) Includes assets which are not considered earning assets (i.e. derivative assets).
n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		24

Bank of America Corporation and Subsidiaries

Off-Balance Sheet Special Purpose Entities Liquidity Exposure

(Dollars in millions)


	September 30, 2009

	VIEs ⁽¹⁾		QSPEs ⁽²⁾		Total
Commercial paper conduits:
Multi-seller conduits	$	27,024	$	—	$	27,024
Asset acquisition conduits		1,317		—		1,317
Home equity securitizations		—		12,863		12,863
Municipal bond trusts		3,122		6,746		9,868

Collateralized debt obligation vehicles ⁽³⁾		3,744		—		3,744
Credit-linked note and other vehicles		3,478		—		3,478
Customer conduits		615		—		615
Credit card securitizations		—		1,738		1,738


Total liquidity exposure ⁽⁴⁾	$	39,300	$	21,347	$	60,647


	June 30, 2009

	VIEs ⁽¹⁾		QSPEs ⁽²⁾		Total
Commercial paper conduits:
Multi-seller conduits	$	34,825	$	—	$	34,825
Asset acquisition conduits		1,391		—		1,391
Home equity securitizations		—		13,377		13,377
Municipal bond trusts		3,545		8,421		11,966

Collateralized debt obligation vehicles ⁽³⁾		4,749		—		4,749
Credit-linked note and other vehicles		3,976		—		3,976
Customer conduits		669		—		669
Credit card securitizations		—		946		946


Total liquidity exposure ⁽⁴⁾	$	49,155	$	22,744	$	71,899

(1)

Variable interest entities (VIEs) are special purpose entities (SPEs) which lack sufficient equity at risk or whose equity investors do not have a controlling financial interest. A VIE is consolidated by the party known as the primary beneficiary that will absorb the majority of the expected losses or expected residual returns of the VIEs or both. For example, an entity that holds a majority of the subordinated debt or equity securities issued by a VIE, or protects other investors from loss through a guarantee or similar arrangement, may have to consolidate the VIE. The assets and liabilities of consolidated VIEs are recorded on the Corporation’s balance sheet.

(2)

Qualifying special purposes entities (QSPEs) are SPEs whose activities are strictly limited to holding and servicing financial assets. QSPEs are generally not required to be consolidated by any party. This table includes only those QSPEs to which we have liquidity exposure.

(3)

Represents super senior and non-super senior collateralized debt obligation exposure.

(4)

Merrill Lynch related exposures as of September 30, 2009 and June 30, 2009 includes: $4.9 billion and $6.5 billion in municipal bond trusts, $3.7 billion and $4.7 billion in collateralized debt obligation vehicles and $3.5 billion and $4.0 billion in credit-linked note and other vehicles.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		25

Bank of America Corporation and Subsidiaries

Super Senior Collateralized Debt Obligation Exposure

(Dollars in millions)


	September 30, 2009
	Subprime ⁽¹⁾		Purchased Securities		Total Subprime		Non- Subprime ⁽²⁾		Total
Unhedged	$	994	$	968	$	1,962	$	1,608	$	3,570
Hedged⁽³⁾		667		—		667		699		1,366

Total	$	1,661	$	968	$	2,629	$	2,307	$	4,936

(1)

Classified as subprime when subprime consumer real estate loans make up at least 35 percent of the ultimate underlying collateral’s original net exposure value.

(2)

Includes highly-rated collateralized loan obligations and commercial mortgage-backed securities super senior exposure.

(3)

Hedged amounts are presented at carrying value before consideration of the insurance.

Credit Default Swaps with Monoline Financial Guarantors

(Dollars in millions)


	September 30, 2009
	Super Senior CDOs				Other Guaranteed Positions				Total
Notional	$	3,785			$	41,045			$	44,830

Mark-to-market or guarantor receivable	$	2,813			$	8,500			$	11,313
Credit valuation adjustment		(1,750	)			(4,140	)			(5,890	)

Total	$	1,063			$	4,360			$	5,423

Credit valuation adjustment %		62		%		49		%		52		%

(Writedowns) gains during the three months ended September 30, 2009	$	(226	)		$	795			$	569

(Writedowns) gains during the nine months ended September 30, 2009		(838	)			58				(780	)

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		26

Bank of America Corporation and Subsidiaries

Unhedged Subprime Super Senior Collateralized Debt Obligation Carrying Values ⁽¹⁾

(Dollars in millions)


	September 30, 2009
	Subprime Net Exposure		Carrying Value as a Percent of Original Net Exposure		Subprime Content of Collateral ⁽²⁾		Vintage of Subprime Collateral
	Subprime Net Exposure		Carrying Value as a Percent of Original Net Exposure		Subprime Content of Collateral ⁽²⁾		Percent in 2006/2007 Vintages		Percent in 2005/Prior Vintages
Mezzanine super senior liquidity commitments	$	67	5	%	100	%	84	%	16	%
Other super senior exposure
High grade		622	22		40		27		73
Mezzanine		303	17		34		81		19
CDO-squared		2	3		100		100		—

Total other super senior		927

Total super senior	$	994	16


Purchased securities from liquidated CDOs		968	19		34		27		73


Total	$	1,962	17

(1)

Classified as subprime when subprime consumer real estate loans make up at least 35 percent of the ultimate underlying collateral’s original net exposure value.

(2)

Based on current net exposure value.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		27

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Segment Results ⁽¹⁾

(Dollars in millions, except as noted)


	Nine Months Ended September 30								Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008
	2009				2008				Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008
Net interest income ⁽²⁾	$	4,280			$	3,449			$	1,330			$	1,292			$	1,658			$	1,348			$	1,271
Noninterest income:
Investment and brokerage services		6,869				3,178				2,328				2,231				2,310				880				1,002
All other income (loss)		1,457				(808	)			437				647				373				(237	)			(703	)

Total noninterest income		8,326				2,370				2,765				2,878				2,683				643				299

Total revenue, net of interest expense		12,606				5,819				4,095				4,170				4,341				1,991				1,570

Provision for credit losses		1,007				512				515				238				254				152				150
Noninterest expense		9,747				3,841				3,169				3,297				3,281				1,069				1,286

Income before income taxes		1,852				1,466				411				635				806				770				134
Income tax expense ⁽²⁾		650				553				140				206				304				255				54

Net income	$	1,202			$	913			$	271			$	429			$	502			$	515			$	80

Net interest yield ⁽²⁾		2.62		%		2.94		%		2.54		%		2.53		%		2.75		%		3.03		%		3.08		%
Return on average equity		8.75				10.44				5.61				9.19				11.88				17.40				2.74
Efficiency ratio ⁽²⁾		77.32				66.01				77.38				79.06				75.60				53.70				81.90

Balance sheet

Average
Total loans and leases	$	104,454			$	87,162			$	101,181			$	101,748			$	110,535			$	88,876			$	88,255
Total earning assets ⁽³⁾		218,767				156,441				207,870				204,521				244,310				177,303				164,051
Total assets ⁽³⁾		251,512				166,013				239,113				237,442				278,413				185,744				173,505
Total deposits		226,967				156,762				214,994				215,383				250,914				172,435				162,192
Allocated equity		18,368				11,674				19,258				18,702				17,120				11,767				11,677

Period end
Total loans and leases	$	99,307			$	89,004			$	99,307			$	100,878			$	102,766			$	89,401			$	89,004
Total earning assets ⁽³⁾		217,937				170,735				217,937				203,110				238,271				179,319				170,735
Total assets ⁽³⁾		249,110				180,499				249,110				233,662				268,557				189,073				180,499
Total deposits		220,482				167,426				220,482				207,581				242,634				176,186				167,426

Client assets
Assets under management	$	739,831			$	564,438			$	739,831			$	705,216			$	697,371			$	523,159			$	564,438
Client brokerage assets ⁽⁴⁾		1,235,483				196,566				1,235,483				1,164,171				1,102,633				172,106				196,566
Assets in custody		269,233				150,575				269,233				252,830				234,361				133,726				150,575
Less: Client brokerage assets and assets in custody included in assets under management		(323,151	)			(82,921	)			(323,151	)			(297,869	)			(279,130	)			(78,487	)			(82,921	)

Total net client assets	$	1,921,396			$	828,658			$	1,921,396			$	1,824,348			$	1,755,235			$	750,504			$	828,658

(1)

GWIM services clients through three primary businesses: Merrill Lynch Global Wealth Management (MLGWM), U.S. Trust, Bank of America Private Wealth Management (U.S. Trust), and Columbia Management (Columbia).

(2)

Fully taxable-equivalent basis

(3)

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

(4)

Client brokerage assets include non-discretionary brokerage and fee-based assets.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		28

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Business Results

(Dollars in millions)


	Three Months Ended September 30, 2009
	Total				Merrill Lynch Global Wealth Management ^(1, 2)				U.S. Trust				Columbia Management				Other ⁽³⁾
Net interest income ⁽⁴⁾	$	1,330			$	1,088			$	328			$	9			$	(95	)
Noninterest income:
Investment and brokerage services		2,328				1,542				310				277				199
All other income (loss)		437				397				11				(134	)			163

Total noninterest income		2,765				1,939				321				143				362

Total revenue, net of interest expense		4,095				3,027				649				152				267
Provision for credit losses		515				262				253				—				—
Noninterest expense		3,169				2,273				478				228				190

Income (loss) before income taxes		411				492				(82	)			(76	)			77

Income tax expense (benefit)⁽⁴⁾		140				182				(30	)			(28	)			16

Net income (loss)	$	271			$	310			$	(52	)		$	(48	)		$	61

Net interest yield ⁽⁴⁾		2.54		%		2.52		%		2.48		%		n/m				n/m
Return on average equity		5.61				14.71				n/m				n/m				n/m

Efficiency ratio ⁽⁴⁾		77.38				75.15				73.63		%		n/m				n/m
Average - total loans and leases	$	101,181			$	48,750			$	52,431				n/m				n/m
Average - total deposits		214,994				174,057				39,334				n/m				n/m

Period end - total assets ⁽⁵⁾		249,110				194,322				55,574			$	3,137				n/m

	Three Months Ended June 30, 2009
	Total				Merrill Lynch Global Wealth Management ^{(1, 2)}				U.S. Trust				Columbia Management				Other ⁽³⁾
Net interest income ⁽⁴⁾	$	1,292			$	1,050			$	339			$	10			$	(107	)
Noninterest income:
Investment and brokerage services		2,231				1,436				331				270				194
All other income		647				468				10				54				115

Total noninterest income		2,878				1,904				341				324				309

Total revenue, net of interest expense		4,170				2,954				680				334				202
Provision for credit losses		238				154				84				—				—
Noninterest expense		3,297				2,408				486				220				183

Income before income taxes		635				392				110				114				19

Income tax expense (benefit)⁽⁴⁾		206				145				41				42				(22	)

Net income	$	429			$	247			$	69			$	72			$	41


Net interest yield ⁽⁴⁾		2.53		%		2.47		%		2.56		%		n/m				n/m
Return on average equity		9.19				12.59				5.49				41.03		%		n/m

Efficiency ratio ⁽⁴⁾		79.06				81.47				71.45				n/m				n/m
Average - total loans and leases	$	101,748			$	48,843			$	52,901				n/m				n/m
Average - total deposits		215,383				176,859				38,490				n/m				n/m

Period end - total assets ⁽⁵⁾		233,662				183,464				56,738			$	2,647				n/m

	Three Months Ended September 30, 2008
	Total				Merrill Lynch Global Wealth Management ^{(1, 2)}				U.S. Trust				Columbia Management				Other
Net interest income ⁽⁴⁾	$	1,271			$	857			$	414			$	—			$	—
Noninterest income:
Investment and brokerage services		1,002				241				328				394				39
All other income (loss)		(703	)			(56	)			(13	)			(636	)			2

Total noninterest income		299				185				315				(242	)			41

Total revenue, net of interest expense		1,570				1,042				729				(242	)			41
Provision for credit losses		150				135				15				—				—
Noninterest expense		1,286				454				488				323				21

Income (loss) before income taxes		134				453				226				(565	)			20
Income tax expense (benefit) ⁽⁴⁾		54				168				84				(209	)			11

Net income (loss)	$	80			$	285			$	142			$	(356	)		$	9

Net interest yield ⁽⁴⁾		3.08		%		2.72		%		3.09		%		n/m				n/m

Return on average equity		2.74				34.82				11.95				n/m				n/m

Efficiency ratio ⁽⁴⁾		81.90				43.61				66.98				n/m				n/m
Average - total loans and leases	$	88,255			$	35,077			$	53,175				n/m				n/m
Average - total deposits		162,192				123,528				38,655				n/m				n/m
Period end - total assets ⁽⁵⁾		180,499				129,616				57,627			$	3,084				n/m

(1)

MLGWM includes the net impact of migrating customers, and their related deposit and loan balances, to or from Deposits and Home Loans & Insurance. After migration, the associated net interest income, noninterest income and noninterest expense are recorded in the applicable segment. During the three months ended September 30, 2009 and June 30, 2009, total deposits of $2.9 billion and $34.3 billion were migrated to Deposits from MLGWM. During the three months ended September 30, 2008, total deposits of $3.3 billion were migrated from Deposits to MLGWM. In addition, during the three months ended September 30, 2009, June 30, 2009 and September 30, 2008, total loans of $2.4 billion, $3.5 billion and $148 million, respectively, were migrated to Home Loans & Insurance from MLGWM.

(2)

Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined Merrill Lynch’s wealth management business and our former Premier Banking & Investment business to form MLGWM.

(3)

Other includes the results of the Institutional Retirement, Philanthropy & Investments business, the Corporation’s approximately 50 percent economic ownership of BlackRock and other miscellaneous items.

(4)

Fully taxable-equivalent basis

(5)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		29

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Business Results

(Dollars in millions)


	Nine Months Ended September 30, 2009
	Total				Merrill Lynch Global Wealth Management ^(1, 2)			U.S. Trust			Columbia Management			Other ⁽³⁾

Net interest income ⁽⁴⁾	$	4,280			$	3,533		$	1,026		$	31		$	(310	)
Noninterest income:
Investment and brokerage services		6,869				4,516			958			807			588
All other income (loss)		1,457				1,246			37			(203	)		377

Total noninterest income		8,326				5,762			995			604			965

Total revenue, net of interest expense		12,606				9,295			2,021			635			655
Provision for credit losses		1,007				639			368			—			—
Noninterest expense		9,747				7,020			1,475			681			571

Income (loss) before income taxes		1,852				1,636			178			(46	)		84

Income tax expense (benefit)⁽⁴⁾		650				605			66			(17	)		(4	)

Net income (loss)	$	1,202			$	1,031		$	112		$	(29	)	$	88


Net interest yield ⁽⁴⁾		2.62		%		2.57	%		2.59	%		n/m			n/m
Return on average equity		8.75				17.93			2.96			n/m			n/m

Efficiency ratio ⁽⁴⁾		77.32				75.53			72.96			n/m			n/m
Average - total loans and leases	$	104,454			$	51,731		$	52,720			n/m			n/m
Average - total deposits		226,967				187,317			39,089			n/m			n/m

Period end - total assets ⁽⁵⁾		249,110				194,322			55,574		$	3,137			n/m

	Nine Months Ended September 30, 2008
	Total				Merrill Lynch Global Wealth Management ^{(1, 2)}			U.S. Trust			Columbia Management			Other
Net interest income ⁽⁴⁾	$	3,449			$	2,327		$	1,119		$	(7	)	$	10
Noninterest income:
Investment and brokerage services		3,178				763			1,095			1,195			125
All other income (loss)		(808	)			58			23			(890	)		1

Total noninterest income		2,370				821			1,118			305			126

Total revenue, net of interest expense		5,819				3,148			2,237			298			136
Provision for credit losses		512				487			25			—			—
Noninterest expense		3,841				1,386			1,458			935			62

Income (loss) before income taxes		1,466				1,275			754			(637	)		74

Income tax expense (benefit) ⁽⁴⁾		553				472			279			(236	)		38

Net income (loss)	$	913			$	803		$	475		$	(401	)	$	36


Net interest yield ⁽⁴⁾		2.94		%		2.58	%		2.95	%		n/m			n/m
Return on average equity		10.44				32.20			13.67			n/m			n/m

Efficiency ratio ⁽⁴⁾		66.01				44.01			65.17			n/m			n/m
Average - total loans and leases	$	87,162			$	36,416		$	50,728			n/m			n/m
Average - total deposits		156,762				119,092			37,400			n/m			n/m

Period end - total assets ⁽⁵⁾		180,499				129,616			57,627		$	3,084			n/m

(1)

MLGWM includes the net impact of migrating customers, and their related deposit and loan balances, to or from Deposits and Home Loans & Insurance. After migration, the associated net interest income, noninterest income and noninterest expense are recorded in the applicable segment. During the nine months ended September 30, 2009, total deposits of $43.4 billion migrated to Deposits from MLGWM. During the nine months ended September 30, 2008, total deposits of $15.9 billion were migrated from Deposits to MLGWM. In addition, during the nine months ended September 30, 2009 and 2008, total loans of $16.1 billion and $2.1 billion were migrated to Home Loans & Insurance from MLGWM.

(2)

Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined Merrill Lynch’s wealth management business and our former Premier Banking & Investment business to form MLGWM.

(3)

(4)

Fully taxable-equivalent basis

(5)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		30

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management - Key Indicators

(Dollars in millions, except as noted)


	Nine Months Ended September 30								Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008
	2009				2008				Third Quarter 2009				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008
Investment and Brokerage Services
Merrill Lynch Global Wealth Management
Asset management fees	$	2,267			$	256			$	762			$	717			$	788			$	75			$	84
Brokerage income		2,249				507				780				719				750				163				157

Total	$	4,516			$	763			$	1,542			$	1,436			$	1,538			$	238			$	241


U.S. Trust
Asset management fees	$	935			$	1,059			$	303			$	325			$	307			$	292			$	317
Brokerage income		23				36				7				6				10				12				11

Total	$	958			$	1,095			$	310			$	331			$	317			$	304			$	328


Columbia Management
Asset management fees	$	806			$	1,193			$	276			$	270			$	260			$	301			$	394
Brokerage income		1				2				1				—				—				—				—

Total	$	807			$	1,195			$	277			$	270			$	260			$	301			$	394


Other
Asset management fees	$	343			$	125			$	114			$	113			$	116			$	37			$	39
Brokerage income		245				—				85			$	81				79				—				—

Total	$	588			$	125			$	199			$	194			$	195			$	37			$	39


Total Global Wealth & Investment Management
Asset management fees	$	4,351			$	2,633			$	1,455			$	1,425			$	1,471			$	705			$	834
Brokerage income		2,518				545				873				806				839				175				168

Total investment and brokerage services	$	6,869			$	3,178			$	2,328			$	2,231			$	2,310			$	880			$	1,002


Assets Under Management
Assets under management by business:
Merrill Lynch Global Wealth Management	$	268,107			$	20,246			$	268,107			$	239,888			$	219,658			$	16,682			$	20,246
U.S. Trust		187,964				199,682				187,964				180,902				179,142				178,657				199,682
Columbia Management		329,103				407,345				329,103				331,810				340,692				386,473				407,345
Institutional Retirement, Philanthropy & Investments		44,437				39,547				44,437				39,298				45,304				33,498				39,547
Eliminations ⁽¹⁾		(89,915	)			(102,621	)			(89,915	)			(86,811	)			(87,550	)			(92,298	)			(102,621	)
International Wealth Management		135				239				135				129				125				147				239

Total assets under management	$	739,831			$	564,438			$	739,831			$	705,216			$	697,371			$	523,159			$	564,438


Assets under management rollforward:
Beginning balance	$	523,159			$	643,531			$	705,216			$	697,371			$	523,159			$	564,438			$	589,459
Merrill Lynch balance, January 1, 2009		246,292				—				—				—				246,292				—				—
Net flows		(88,063	)			(11,399	)			(17,757	)			(27,071	)			(43,235	)			12,596				7,477
Market valuation/other		58,443				(67,694	)			52,372				34,916				(28,845	)			(53,875	)			(32,498	)

Ending balance	$	739,831			$	564,438			$	739,831			$	705,216			$	697,371			$	523,159			$	564,438


Assets under management mix:
Money market/other	$	193,593			$	238,075			$	193,593			$	215,637			$	244,577			$	253,310			$	238,075
Fixed income		221,963				102,596				221,963				204,974				198,177				102,747				102,596
Equity		324,275				223,767				324,275				284,605				254,617				167,102				223,767

Total assets under management	$	739,831			$	564,438			$	739,831			$	705,216			$	697,371			$	523,159			$	564,438


Assets under management - domestic and foreign:
Domestic	$	717,289			$	564,199			$	717,289			$	685,492			$	679,927			$	523,012			$	564,199
Foreign		22,542				239				22,542				19,724				17,444				147				239

Total assets under management	$	739,831			$	564,438			$	739,831			$	705,216			$	697,371			$	523,159			$	564,438


Client Brokerage Assets ⁽²⁾	$	1,235,483			$	196,566			$	1,235,483			$	1,164,171			$	1,102,633			$	172,106			$	196,566

Merrill Lynch Global Wealth Management Metrics

Number of financial advisors		14,979				1,964				14,979				15,008				15,822				2,007				1,964

Financial Advisor Productivity ⁽³⁾ (in thousands)	$	812			$	1,678			$	824			$	809			$	803			$	1,576			$	1,496

Total client balances ⁽⁴⁾	$	1,400,438			$	301,093			$	1,400,438			$	1,321,502			$	1,292,965			$	290,661			$	301,093

U.S. Trust Metrics

Client facing associates		3,944				4,467				3,944				3,968				4,015				4,473				4,467

Total client balances ⁽⁴⁾	$	314,937			$	344,004			$	314,937			$	301,512			$	301,151			$	308,366			$	344,004

Columbia Management Performance Metrics

# of 4 or 5 Star Funds by Morningstar		39				53				39				47				49				53				53

% of Assets Under Management in 4 or 5 Star Rated Funds ⁽⁵⁾		51		%		64		%		51		%		46		%		49		%		62		%		64		%

(1)

The elimination of assets under management that are managed by two lines of business.

(2)

The January 1, 2009 acquisition of Merrill Lynch contributed $1.0 trillion to client brokerage assets.

(3)

Financial advisor productivity is defined as annualized total revenue (excluding residual net interest income) divided by the total number of financial advisors. The decline in Financial Advisor Productivity in the first quarter 2009 compared to previous quarters results from the inclusion of Merrill Lynch financial advisors. Legacy Bank of America financial advisors historically have had higher amounts of credit and banking activity in their portfolios.

(4)

Client balances are defined as deposits, assets under management, client brokerage assets and other assets in custody.

(5)

Results shown are defined by Columbia Management’s calculation using Morningstar’s Overall Rating criteria for 4 & 5 star rating. The assets under management of the Columbia Funds that had a 4 & 5 star rating were totaled then divided by the assets under management of all the funds in the ranking.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		31

Bank of America Corporation and Subsidiaries

All Other Results ^{(1, 2)}

(Dollars in millions)


	Nine Months Ended September 30						Third Quarter 2009			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008
	2009			2008			Third Quarter 2009			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008
Net interest income ⁽³⁾	$	(5,399	)	$	(6,143	)	$	(1,867	)	$	(1,622	)	$	(1,910	)	$	(1,875	)	$	(2,342	)
Noninterest income:
Card income		(464	)		1,797			(720	)		(278	)		534			368			538
Equity investment income (loss)		8,191			651			886			5,979			1,326			(388	)		(327	)
Gains (losses) on sales of debt securities		3,584			349			1,441			672			1,471			783			(3	)
All other income (loss)		(4,165	)		(380	)		(2,371	)		(4,335	)		2,541			(331	)		66

Total noninterest income		7,146			2,417			(764	)		2,038			5,872			432			274

Total revenue, net of interest expense		1,747			(3,726	)		(2,631	)		416			3,962			(1,443	)		(2,068	)

Provision for credit losses ⁽⁴⁾		(1,908	)		(3,158	)		(1,222	)		(9	)		(677	)		(613	)		(996	)
Merger and restructuring charges		2,188			629			594			829			765			306			247
All other noninterest expense		1,439			48			612			590			237			142			(86	)

Income (loss) before income taxes		28			(1,245	)		(2,615	)		(994	)		3,637			(1,278	)		(1,233	)
Income tax expense (benefit) ⁽³⁾		(1,975	)		(534	)		(983	)		(1,737	)		745			(748	)		(540	)

Net income (loss)	$	2,003		$	(711	)	$	(1,632	)	$	743		$	2,892		$	(530	)	$	(693	)


Balance sheet

Average
Total loans and leases	$	158,721		$	132,615		$	147,666		$	159,144		$	169,593		$	145,241		$	146,305
Total deposits		106,944			104,143			108,244			104,382			108,208			110,471			104,370

Period end
Total loans and leases	$	145,856		$	146,365		$	145,856		$	153,010		$	165,535		$	136,163		$	146,365
Total deposits		94,573			99,003			94,573			99,495			92,436			86,888			99,003

(1)

All Other consists of equity investment activities including Global Principal Investments, Corporate Investments and Strategic Investments, the residential mortgage portfolio associated with ALM activities, the residual impact of cost allocation processes, merger and restructuring charges, intersegment eliminations and the results of certain businesses that are expected to be or have been sold or are in the process of being liquidated. All Other also includes certain amounts associated with ALM activities, including the residual impact of funds transfer pricing allocation methodologies, amounts associated with the change in the value of derivatives used as economic hedges of interest rate and foreign exchange rate fluctuations that are not hedging instruments per GAAP, foreign exchange rate fluctuations related to revaluation of foreign-denominated debt issuances, certain gains (losses) on sales of whole mortgage loans, and gains (losses) on sales of debt securities. All Other also includes adjustments to noninterest income and income tax expense to remove the FTE impact of items (primarily low-income housing tax credits) that have been grossed up within noninterest income to a FTE amount in the business segments. All Other also includes a trust services business which is a client-focused business providing trustee services and fund administration to various financial services companies. In addition, All Other includes the offsetting securitization impact to present Global Card Services on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - All Other - Reconciliation on page 45).

(2)

Effective January 1, 2009, as part of the Merrill Lynch acquisition, All Other includes the results of First Republic Bank as well as fair value adjustments related to certain Merrill Lynch structured notes.

(3)

Fully taxable-equivalent basis

(4)

Provision for credit losses represents provision for credit losses in All Other combined with the Global Card Services securitization offset.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


		This information is preliminary and based on company data available at the time of the presentation.		32

Bank of America Corporation and Subsidiaries

Equity Investments

(Dollars in millions)

Global Principal Investments Exposures

Equity
Investment
Income
(Loss)

September 30, 2009

June 30,
2009

September 30, 2009

Book
Value

Unfunded
Commitments

Total

Total

Three months
ended

Nine months
ended

Global Principal Investments:

Global Private Equity

5,232

262

5,494

4,521

769

813

Global Real Estate

2,416

392

2,808

2,946

(178

)

(263

)

Global Strategic Capital

4,427

1,999

6,426

6,412

130

Legacy/Other Investments

1,377

1,457

816

)

(36

)

Total Global Principal Investments

13,452

2,733

16,185

14,695

713

551

Components of Equity Investment Income (Loss)

(Dollars in millions)


	Nine Months Ended September 30						Third Quarter 2009			Second Quarter 2009 ⁽¹⁾			First Quarter 2009 ⁽¹⁾			Fourth Quarter 2008			Third Quarter 2008
	2009			2008			Third Quarter 2009			Second Quarter 2009 ⁽¹⁾			First Quarter 2009 ⁽¹⁾			Fourth Quarter 2008			Third Quarter 2008
Global Principal Investments	$	551		$	279		$	713		$	304		$	(466	)	$	(363	)	$	(29	)
Corporate Investments		(153	)		(225	)		109			10			(272	)		(295	)		(369	)
Strategic and other investments ⁽¹⁾		7,793			597			64			5,665			2,064			270			71

Total equity investment income (loss) included in All Other		8,191			651			886			5,979			1,326			(388	)		(327	)
Total equity investment income (loss) included in the business segments		(203	)		679			(43	)		(36	)		(124	)		(403	)		11

Total consolidated equity investment income (loss)	$	7,988		$	1,330		$	843		$	5,943		$	1,202		$	(791	)	$	(316	)

(1)

For the three months ended June 30, 2009 and March 31, 2009, strategic and other investments includes a $5.3 billion and $1.9 billion pre-tax gain due to sales of portions of the Corporation’s China Construction Bank investment.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		33

Bank of America Corporation and Subsidiaries

Outstanding Loans and Leases

(Dollars in millions)


	September 30 2009		June 30 2009		Increase (Decrease)
Consumer
Residential mortgage ⁽¹⁾	$	238,921	$	245,967	$	(7,046	)
Home equity		152,039		155,058		(3,019	)
Discontinued real estate ⁽²⁾		15,460		17,490		(2,030	)
Credit card - domestic		49,221		48,948		273
Credit card - foreign		20,985		20,429		556
Direct/Indirect consumer⁽³⁾		98,366		99,154		(788	)
Other consumer ⁽⁴⁾		3,264		3,390		(126	)

Total consumer		578,256		590,436		(12,180	)


Commercial
Commercial - domestic ⁽⁵⁾		207,607		217,571		(9,964	)
Commercial real estate ⁽⁶⁾		72,662		75,081		(2,419	)
Commercial lease financing		21,910		22,387		(477	)
Commercial - foreign		27,634		29,811		(2,177	)

Total commercial loans		329,813		344,850		(15,037	)
Commercial loans measured at fair value ⁽⁷⁾		6,197		6,962		(765	)

Total commercial		336,010		351,812		(15,802	)

Total loans and leases	$	914,266	$	942,248	$	(27,982	)

(1)

Includes foreign residential mortgages of $533 million and $681 million at September 30, 2009 and June 30, 2009.

(2)

At September 30, 2009 and June 30, 2009, includes $13.9 billion and $15.9 billion of pay option loans, and $1.5 billion and $1.6 billion of subprime loans obtained as part of the acquisition of Countrywide. The Corporation no longer originates these products.

(3)

Includes dealer financial services of $41.4 billion and $40.9 billion, consumer lending of $21.9 billion and $24.2 billion, securities based lending margin loans of $11.7 billion and $11.0 billion, and foreign consumer loans of $7.9 billion and $7.7 billion at September 30, 2009 and June 30, 2009.

(4)

Includes consumer finance loans of $2.3 billion and $2.4 billion, and other foreign consumer loans of $683 million and $721 million at September 30, 2009 and June 30, 2009.

(5)

Includes small business commercial - domestic loans, primarily card related, of $17.9 billion and $18.1 billion at September 30, 2009 and June 30, 2009.

(6)

Includes domestic commercial real estate loans of $69.1 billion and $71.6 billion, and foreign commercial real estate loans of $3.5 billion at both September 30, 2009 and June 30, 2009.

(7)

Certain commercial loans are measured at fair value under the fair value option and include commercial - domestic loans of $4.0 billion and $4.4 billion, commercial - foreign loans of $2.1 billion and $2.5 billion, and commercial real estate loans of $98 million and $123 million at September 30, 2009 and June 30, 2009.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		34

Bank of America Corporation and Subsidiaries

Quarterly Average Loans and Leases by Business Segment

(Dollars in millions)


	Third Quarter 2009
	Total Corporation		Deposits		Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Banking		Global Markets		GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	241,924	$	—	$	—	$	—	$	333	$	622	$	36,196	$	204,773
Home equity		153,269		—		—		130,751		995		—		18,380		3,143
Discontinued real estate		16,570		—		—		—		—		—		—		16,570
Credit card - domestic		49,751		—		137,312		—		—		—		—		(87,561	)
Credit card - foreign		21,189		—		31,148		—		—		—		—		(9,959	)
Direct/Indirect consumer		100,012		10,804		24,651		59		42,022		8		22,273		195
Other consumer		3,331		287		741		25		6		2		7		2,263

Total consumer		586,046		11,091		193,852		130,835		43,356		632		76,856		129,424

Commercial
Commercial - domestic		216,332		283		17,814		1,753		153,493		8,649		21,978		12,362
Commercial real estate		74,276		5		241		11		62,884		1,230		2,230		7,675
Commercial lease financing		22,068		—		—		—		24,140		2		—		(2,074	)
Commercial - foreign		31,533		—		1,433		—		24,891		4,813		117		279

Total commercial		344,209		288		19,488		1,764		265,408		14,694		24,325		18,242

Total loans and leases	$	930,255	$	11,379	$	213,340	$	132,599	$	308,764	$	15,326	$	101,181	$	147,666


	Second Quarter 2009
	Total Corporation		Deposits		Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Banking		Global Markets		GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	253,803	$	—	$	—	$	—	$	382	$	650	$	36,214	$	216,557
Home equity		156,599		—		—		129,420		1,052		—		19,556		6,571
Discontinued real estate		18,309		—		—		—		—		—		—		18,309
Credit card - domestic		51,721		—		143,209		—		—		—		—		(91,488	)
Credit card - foreign		18,825		—		29,383		—		—		—		—		(10,558	)
Direct/Indirect consumer		100,302		10,376		27,172		69		41,233		5		21,293		154
Other consumer		3,298		245		655		18		9		—		14		2,357

Total consumer		602,857		10,621		200,419		129,507		42,676		655		77,077		141,902

Commercial
Commercial - domestic		231,639		202		18,381		1,990		164,673		11,817		22,357		12,219
Commercial real estate		75,559		22		196		12		64,609		1,888		2,243		6,589
Commercial lease financing		22,026		—		—		—		24,208		2		—		(2,184	)
Commercial - foreign		34,024		—		1,369		—		27,051		4,915		71		618

Total commercial		363,248		224		19,946		2,002		280,541		18,622		24,671		17,242

Total loans and leases	$	966,105	$	10,845	$	220,365	$	131,509	$	323,217	$	19,277	$	101,748	$	159,144


	Third Quarter 2008
	Total Corporation		Deposits		Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Banking		Global Markets		GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	260,779	$	—	$	—	$	—	$	620	$	—	$	35,050	$	225,109
Home equity		151,111		—		—		121,041		887		—		23,645		5,538
Discontinued real estate		22,031		—		—		—		—		—		—		22,031
Credit card - domestic		63,414		—		153,036		—		—		—		—		(89,622	)
Credit card - foreign		17,075		—		33,372		—		—		—		—		(16,297	)
Direct/Indirect consumer		85,392		7,457		31,321		79		42,205		—		5,013		(683	)
Other consumer		3,723		268		825		47		16		—		18		2,549

Total consumer		603,525		7,725		218,554		121,167		43,728		—		63,726		148,625

Commercial
Commercial - domestic		224,117		163		19,550		782		163,886		17,311		22,707		(282	)
Commercial real estate		63,220		—		281		85		60,196		944		1,740		(26	)
Commercial lease financing		22,585		—		—		—		24,574		34		—		(2,023	)
Commercial - foreign		33,467		—		1,566		—		28,429		3,379		82		11

Total commercial		343,389		163		21,397		867		277,085		21,668		24,529		(2,320	)

Total loans and leases	$	946,914	$	7,888	$	239,951	$	122,034	$	320,813	$	21,668	$	88,255	$	146,305

(1)

Global Card Services is presented on a managed basis with a corresponding offset recorded in All Other.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		35

Bank of America Corporation and Subsidiaries

Commercial Credit Exposure by Industry ^{(1, 2, 3)}

(Dollars in millions)


	Commercial Utilized							Total Commercial Committed
	September 30 2009		June 30 2009		Increase (Decrease)			September 30 2009			June 30 2009			Increase (Decrease)
Diversified financials	$	75,650	$	74,089	$	1,561		$	118,770		$	121,600		$	(2,830	)
Real estate⁽⁴⁾		80,424		83,426		(3,002	)		98,857			103,560			(4,703	)
Government and public education		44,802		44,432		370			61,547			62,987			(1,440	)
Capital goods		26,585		28,385		(1,800	)		51,653			53,870			(2,217	)
Healthcare equipment and services		30,960		31,635		(675	)		47,640			47,382			258
Retailing		25,413		27,062		(1,649	)		44,611			45,729			(1,118	)
Consumer services		29,068		28,688		380			44,606			43,999			607
Commercial services and supplies		25,149		26,973		(1,824	)		37,500			38,755			(1,255	)
Materials		18,431		20,278		(1,847	)		34,712			36,068			(1,356	)
Individuals and trusts		24,448		26,648		(2,200	)		32,021			35,290			(3,269	)
Insurance		21,945		26,077		(4,132	)		28,947			33,404			(4,457	)
Food, beverage and tobacco		15,131		15,859		(728	)		28,180			28,843			(663	)
Utilities		9,732		10,484		(752	)		26,639			26,860			(221	)
Energy		10,641		12,208		(1,567	)		23,941			24,776			(835	)
Media		12,131		12,435		(304	)		23,783			23,539			244
Banks		20,040		21,416		(1,376	)		23,156			24,831			(1,675	)
Transportation		13,804		13,421		383			19,558			19,554			4
Religious and social organizations		9,261		9,688		(427	)		11,891			12,530			(639	)
Consumer durables and apparel		5,086		5,383		(297	)		10,159			10,198			(39	)
Telecommunication services		3,746		3,892		(146	)		10,006			10,123			(117	)
Pharmaceuticals and biotechnology		3,364		3,574		(210	)		9,812			9,913			(101	)
Software and services		3,548		3,880		(332	)		9,707			10,006			(299	)
Technology hardware and equipment		3,228		3,446		(218	)		9,557			9,902			(345	)
Food and staples retailing		3,878		4,356		(478	)		6,776			7,367			(591	)
Automobiles and components		2,615		3,269		(654	)		5,215			6,243			(1,028	)
Other		5,748		6,049		(301	)		11,111			10,883			228
Total commercial credit exposure by industry	$	524,828	$	547,053	$	(22,225	)	$	830,355		$	858,212		$	(27,857	)

Net credit default protection purchased on total commitments ⁽⁵⁾								$	(21,558	)	$	(25,980	)

(1)

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $71.9 billion and $63.3 billion at September 30, 2009 and June 30, 2009. Not reflected in utilized and committed exposure is additional derivative collateral held of $14.7 billion and $11.5 billion which consists primarily of other marketable securities at September 30, 2009 and June 30, 2009.

(2)

Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value under the fair value option and are comprised of loans outstanding of $6.2 billion and $7.0 billion and issued letters of credit at notional value of $1.9 billion and $2.1 billion at September 30, 2009 and June 30, 2009. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $26.7 billion and $24.7 billion at September 30, 2009 and June 30, 2009.

(3)

Includes small business commercial - domestic exposure.

(4)

Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based upon the borrowers’ or counterparties’ primary business activity using operating cash flow and primary source of repayment as key factors.

(5)

Represents net notional credit protection purchased.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 include the Countrywide acquisition. Information for the period beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		36

Bank of America Corporation and Subsidiaries

Net Credit Default Protection by Maturity Profile⁽¹⁾


	September 30 2009		June 30 2009
Less than or equal to one year	13	%	9	%
Greater than one year and less than or equal to five years	84		85
Greater than five years	3		6
Total net credit default protection	100	%	100	%

(1)

In order to mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown above.

Net Credit Default Protection by Credit Exposure Debt Rating ^{(1, 2)}

(Dollars in millions)


	September 30, 2009						June 30, 2009
Ratings ⁽³⁾	Net Notional			Percent			Net Notional			Percent
AAA	$	15		(0.1	)	%	$	35		(0.1	)	%
AA		(465	)	2.2				(1,180	)	4.5
A		(6,239	)	28.9				(7,198	)	27.7
BBB		(11,262	)	52.3				(11,786	)	45.4
BB		(3,015	)	14.0				(3,057	)	11.8
B		(974	)	4.5				(891	)	3.4
CCC and below		(1,886	)	8.7				(1,921	)	7.4
NR⁽⁴⁾		2,268		(10.5	)			18		(0.1	)
Total net credit default protection	$	(21,558	)	100.0		%	$	(25,980	)	100.0		%

(1)

In order to mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of debt rating for net notional credit default protection purchased is shown as a negative and the net notional credit protection sold is shown as a positive amount.

(2)

Ratings are refreshed on a quarterly basis.

(3)

The Corporation considers ratings of BBB- or higher to meet the definition of investment grade.

(4)

In addition to names which have not been rated, “NR” includes $2.4 billion and $157 million in net credit default swap index positions at September 30, 2009 and June 30, 2009. While index positions are principally investment grade, credit default swaps indices include names in and across each of the ratings categories.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		37

Bank of America Corporation and Subsidiaries

Selected Emerging Markets ⁽¹⁾


(Dollars in millions)	Loans and Leases, and Loan Commitments		Other Financing ⁽²⁾		Derivative Assets ⁽³⁾		Securities / Other Investments ⁽⁴⁾		Total Cross- border Exposure ⁽⁵⁾		Local Country Exposure Net of Local Liabilities ⁽⁶⁾		Total Emerging Markets Exposure September 30, 2009		Increase (Decrease) from June 30, 2009
Region/Country
Asia Pacific
China ⁽⁷⁾	$	538	$	174	$	777	$	10,618	$	12,107	$	—	$	12,107	$	(59	)
South Korea		274		608		1,518		3,178		5,578		—		5,578		(755	)
India		1,300		914		824		1,767		4,805		9		4,814		(1,124	)
Hong Kong		545		371		160		218		1,294		—		1,294		(164	)
Singapore		306		41		285		253		885		—		885		(1,325	)
Taiwan		321		20		123		129		593		227		820		250
Other Asia Pacific ⁽⁸⁾		258		40		190		667		1,155		151		1,306		(234	)
Total Asia Pacific		3,542		2,168		3,877		16,830		26,417		387		26,804		(3,411	)
Latin America
Brazil ⁽⁹⁾		377		688		220		4,708		5,993		2,097		8,090		915
Mexico ⁽¹⁰⁾		1,720		208		525		2,696		5,149		355		5,504		(233	)
Chile		466		393		320		30		1,209		2		1,211		15
Argentina		1		—		6		387		394		162		556		66
Other Latin America ⁽⁸⁾		127		214		368		189		898		—		898		(137	)
Total Latin America		2,691		1,503		1,439		8,010		13,643		2,616		16,259		626
Middle East and Africa
South Africa		153		8		56		1,020		1,237		—		1,237		89
United Arab Emirates		387		36		176		65		664		—		664		5
Other Middle East and Africa ⁽⁸⁾		465		70		212		238		985		1		986		(392	)
Total Middle East and Africa		1,005		114		444		1,323		2,886		1		2,887		(298	)
Total Central and Eastern Europe ⁽⁸⁾		603		226		468		608		1,905		30		1,935		(535	)
Total emerging market exposure	$	7,841	$	4,011	$	6,228	$	26,771	$	44,851	$	3,034	$	47,885	$	(3,618	)

(1)

There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Middle East and Africa; and all countries in Central and Eastern Europe excluding Greece. There was no emerging market exposure included in the portfolio measured at fair value under the fair value option at September 30, 2009 and June 30, 2009.

(2)

Includes acceptances, standby letters of credit, commercial letters of credit and formal guarantees.

(3)

Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $775 million and $774 million at September 30, 2009 and June 30, 2009. At September 30, 2009 and June 30, 2009, there were $605 million and $863 million of other marketable securities collateralizing derivative assets.

(4)

Generally, cross-border resale agreements are presented based on the domicile of the counterparty, consistent with Federal Financial Institutions Examination Council (FFIEC) reporting requirements. Cross-border resale agreements where the underlying securities are U.S. Treasury securities, in which case the domicile is the U.S., are excluded from this presentation.

(5)

Cross-border exposure includes amounts payable to the Corporation by borrowers or counterparties with a country of residence other than the one in which the credit is booked, regardless of the currency in which the claim is denominated, consistent with FFIEC reporting requirements.

(6)

Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked, regardless of the currency in which the claim is denominated. Local funding or liabilities are subtracted from local exposures consistent with FFIEC reporting requirements. Total amount of available local liabilities funding local country exposure at September 30, 2009 was $18.0 billion compared to $15.3 billion at June 30, 2009. Local liabilities at September 30, 2009 in Asia Pacific, Latin America, and Middle East and Africa were $16.7 billion, $860 million, and $398 million, respectively, of which $8.2 billion were in Singapore, $2.1 billion in South Korea, $1.8 billion in both Hong Kong and India, $1.5 billion in China, $722 million in Mexico and $645 million in Taiwan. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

(7)

Securities/Other Investments include an investment of $9.2 billion in China Construction Bank (CCB).

(8)

No country included in Other Asia Pacific, Other Latin America, Other Middle East and Africa, or Central and Eastern Europe had total foreign exposure of more than $500 million.

(9)

Securities/Other Investments include an investment of $3.9 billion in Banco Itaú Holding Financeira S.A.

(10)

Securities/Other Investments include an investment of $2.4 billion in Grupo Financiero Santander, S.A.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		38

Bank of America Corporation and Subsidiaries

Nonperforming Assets


(Dollars in millions)	September 30 2009			June 30 2009			March 31 2009			December 31 2008			September 30 2008
Residential mortgage	$	15,509		$	13,615		$	10,846		$	7,057		$	4,638
Home equity		3,741			3,826			3,497			2,637			2,049
Discontinued real estate		207			181			129			77			33
Direct/Indirect consumer		92			57			29			26			13
Other consumer		105			93			91			91			89

Total consumer		19,654			17,772			14,592			9,888			6,822


Commercial - domestic ⁽¹⁾		4,719			4,204			3,022			2,040			1,566
Commercial real estate		6,943			6,651			5,662			3,906			3,090
Commercial lease financing		170			104			104			56			35
Commercial - foreign		261			250			300			290			48

		12,093			11,209			9,088			6,292			4,739
Small business commercial - domestic		167			200			224			205			183

Total commercial		12,260			11,409			9,312			6,497			4,922

Total nonperforming loans and leases		31,914			29,181			23,904			16,385			11,744
Foreclosed properties		1,911			1,801			1,728			1,827			1,832

Total nonperforming assets ^{(2, 3, 4)}	$	33,825		$	30,982		$	25,632		$	18,212		$	13,576


Loans past due 90 days or more and still accruing ^{(2, 4, 5)}	$	7,595		$	6,403		$	6,344		$	5,414		$	4,819

Nonperforming assets/Total assets ⁽⁶⁾		1.51	%		1.38	%		1.11	%		1.00	%		0.74	%

Nonperforming assets/Total loans, leases and foreclosed properties⁽⁶⁾		3.72			3.31			2.64			1.96			1.45

Nonperforming loans and leases/Total loans and leases outstanding⁽⁶⁾		3.51			3.12			2.47			1.77			1.25

Allowance for credit losses:
Allowance for loan and lease losses	$	35,832		$	33,785		$	29,048		$	23,071		$	20,346
Reserve for unfunded lending commitments ⁽⁷⁾		1,567			1,992			2,102			421			427

Total allowance for credit losses	$	37,399		$	35,777		$	31,150		$	23,492		$	20,773


Allowance for loan and lease losses/Total loans and leases outstanding ⁽⁶⁾		3.95	%		3.61	%		3.00	%		2.49	%		2.17	%

Allowance for loan and lease losses/Total nonperforming loans and leases⁽⁶⁾		112			116			122			141			173

Commercial utilized reservable criticized exposure ⁽⁸⁾	$	60,059		$	57,180		$	48,660		$	36,937		$	31,009

Commercial utilized reservable criticized exposure/Commercial utilized exposure ⁽⁸⁾		14.78	%		13.53	%		11.13	%		8.90	%		7.45	%

(1)

Excludes small business commercial - domestic loans.

(2)

Balances do not include purchased impaired loans even though the customer may be contractually past due. Purchased impaired loans were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.

(3)

Balances do not include nonperforming loans held-for-sale of $6.2 billion, $5.9 billion, $5.0 billion, $4.1 billion and $3.9 billion at September 30, 2009, June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, respectively.

(4)

Balances do not include loans measured at fair value under the fair value option. At September 30, 2009, June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, there were no nonperforming loans measured at fair value under the fair value option. At September 30, 2009, there were $111 million of loans past due 90 days or more and still accruing interest at fair value under the fair value option. At June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, there were no loans past due 90 days or more and still accruing interest measured at fair value under the fair value option.

(5)

Balances do not include loans held-for-sale past due 90 days or more and still accruing interest included in other assets of $6 million, $0, $18 million, $31 million and $138 million at September 30, 2009, June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, respectively.

(6)

Ratios do not include loans measured at fair value under the fair value option of $6.2 billion, $7.0 billion, $7.4 billion, $5.4 billion and $5.4 billion at September 30, 2009, June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, respectively.

(7)

The majority of the increase from December 31, 2008 relates to the fair value of the acquired Merrill Lynch unfunded lending commitments, excluding commitments measured at fair value under the fair value option.

(8)

Criticized exposure and ratios exclude assets held-for-sale, exposure measured at fair value under the fair value option and other nonreservable exposure. Including assets held-for-sale, other nonreservable exposure and commercial loans measured at fair value, the ratios would have been 15.85 percent, 14.93 percent, 12.63 percent, 9.45 percent and 7.94 percent at September 30, 2009, June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, respectively.

Loans are classified as domestic or foreign based upon the domicile of the borrower.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		39

Bank of America Corporation and Subsidiaries

Nonperforming Asset Activity

(Dollars in millions)


	Third Quarter 2009			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	17,772		$	14,592		$	9,888		$	6,822		$	5,220
Additions ⁽¹⁾		6,696			7,076			7,718			5,283			3,435
Paydowns and payoffs		(410	)		(382	)		(296	)		(146	)		(110	)
Return to performing status ⁽²⁾		(966	)		(804	)		(601	)		(501	)		(371	)
Charge-offs⁽³⁾		(2,829	)		(2,478	)		(1,692	)		(1,233	)		(1,117	)
Other		(609	)		(232	)		(425	)		(337	)		(235	)

Total nonperforming consumer loans and leases, end of period		19,654			17,772			14,592			9,888			6,822
Foreclosed properties		1,298			1,330			1,356			1,506			1,656

Total nonperforming consumer assets	$	20,952		$	19,102		$	15,948		$	11,394		$	8,478

Nonperforming Commercial Loans and Leases ⁽⁴⁾:
Balance, beginning of period	$	11,409		$	9,312		$	6,497		$	4,922		$	3,936
Additions ⁽¹⁾		4,289			4,416			4,434			3,095			1,997
Paydowns and payoffs		(944	)		(593	)		(490	)		(368	)		(371	)
Return to performing status ⁽²⁾		(94	)		(92	)		(55	)		(35	)		(29	)
Charge-offs ⁽⁵⁾		(1,773	)		(1,429	)		(976	)		(896	)		(495	)
Other		(627	)		(205	)		(98	)		(221	)		(116	)

Total nonperforming commercial loans and leases, end of period		12,260			11,409			9,312			6,497			4,922
Foreclosed properties		613			471			372			321			176

Total nonperforming commercial assets	$	12,873		$	11,880		$	9,684		$	6,818		$	5,098

(1)

The three months ended March 31, 2009 includes $465 million of nonperforming consumer loans and leases and $402 million of nonperforming commercial loans and leases acquired from Merrill Lynch.

(2)

Loans and leases may be restored to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after six consecutive, on-time payments.

(3)

Our policy is not to classify consumer credit card and consumer non-real estate loans and leases as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity.

(4)

Includes small business commercial – domestic activity.

(5)

Business card loans are not classified as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		40

Bank of America Corporation and Subsidiaries

Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios ⁽¹⁾

(Dollars in millions)


	Third Quarter 2009					Second Quarter 2009					First Quarter 2009					Fourth Quarter 2008					Third Quarter 2008
Held Basis	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	1,247		2.05	%	$	1,085		1.72	%	$	785		1.20	%	$	466		0.73	%	$	242		0.37	%
Home equity		1,970		5.10			1,839		4.71			1,681		4.30			1,113		2.92			964		2.53
Discontinued real estate		37		0.89			35		0.76			15		0.31			19		0.36			(3	)	(0.05	)
Credit card - domestic		1,787		14.25			1,788		13.87			1,426		9.81			1,244		7.63			1,094		6.86
Credit card - foreign		382		7.14			276		5.88			186		4.48			162		3.75			148		3.46
Direct/Indirect consumer		1,451		5.76			1,475		5.90			1,249		5.03			1,054		5.03			845		3.94
Other consumer		118		14.00			99		11.93			97		11.67			124		13.79			106		11.36

Total consumer		6,992		4.73			6,597		4.39			5,439		3.54			4,182		2.79			3,396		2.24

Commercial - domestic ⁽²⁾		773		1.58			536		1.03			244		0.46			255		0.50			117		0.23
Commercial real estate		873		4.67			629		3.34			455		2.56			382		2.36			262		1.65
Commercial lease financing		41		0.72			44		0.81			67		1.22			31		0.57			8		0.13
Commercial - foreign		149		2.05			122		1.54			104		1.25			129		1.63			46		0.56

		1,836		2.28			1,331		1.58			870		1.02			797		0.99			433		0.54
Small business commercial - domestic		796		17.45			773		16.69			633		13.47			562		11.55			527		10.64

Total commercial		2,632		3.09			2,104		2.37			1,503		1.68			1,359		1.59			960		1.13

Total net charge-offs	$	9,624		4.13		$	8,701		3.64		$	6,942		2.85		$	5,541		2.36		$	4,356		1.84


By Business Segment
Deposits	$	100		3.48	%	$	88		3.26	%	$	88		3.42	%	$	106		4.89	%	$	96		4.85	%
Global Card Services ⁽³⁾		7,536		14.02			7,096		12.91			5,406		9.60			4,623		7.88			4,185		6.94
Home Loans & Insurance		1,963		5.87			1,598		4.88			1,492		4.77			976		3.18			844		2.75
Global Banking		1,748		2.25			1,477		1.83			1,122		1.37			992		1.19			588		0.73
Global Markets		44		1.98			29		1.00			5		0.17			15		0.87			16		0.36
Global Wealth & Investment Management		285		1.12			172		0.68			162		0.60			145		0.65			108		0.49
All Other ⁽³⁾		(2,052	)	(5.52	)		(1,759	)	(4.43	)		(1,333	)	(3.21	)		(1,316	)	(3.60	)		(1,481	)	(4.03	)

Total net charge-offs	$	9,624		4.13		$	8,701		3.64		$	6,942		2.85		$	5,541		2.36		$	4,356		1.84


Supplemental managed basis data
Credit card - domestic	$	4,816		13.92	%	$	4,530		12.69	%	$	3,421		9.20	%	$	2,929		7.66	%	$	2,643		6.87	%
Credit card - foreign		661		8.41			517		7.06			373		5.47			334		4.57			353		4.21

Total credit card managed net losses	$	5,477		12.90		$	5,047		11.73		$	3,794		8.62		$	3,263		7.16		$	2,996		6.40

(1)

Net charge-off/loss ratios are calculated as annualized held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases excluding loans measured at fair value under the fair value option during the period for each loan and lease category.

(2)

Excludes small business commercial - domestic loans.

(3)

Global Card Services is presented on a managed basis. The securitization offset is included within All Other.

Loans are classified as domestic or foreign based upon the domicile of the borrower.

Certain prior period amounts have been reclassified to conform to current period presentation.

LOGO

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		41

Bank of America Corporation and Subsidiaries

Year-to-Date Net Charge-offs/Losses and Net Charge-off/Loss Ratios⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30
	2009						2008
Held Basis	Amount			Percent			Amount			Percent
Residential mortgage	$	3,117		1.64		%	$	459		0.23		%
Home equity		5,490		4.70				2,383		2.46
Discontinued real estate		87		0.64				(3	)	(0.05	)
Credit card - domestic		5,001		12.51				2,917		6.20
Credit card - foreign		844		5.95				389		3.19
Direct/Indirect consumer		4,175		5.56				2,060		3.35
Other consumer		314		12.54				275		9.45

Total consumer		19,028		4.21				8,480		2.01

Commercial - domestic ⁽²⁾		1,553		1.01				264		0.18
Commercial real estate		1,957		3.54				505		1.08
Commercial lease financing		152		0.92				29		0.17
Commercial - foreign		375		1.59				44		0.18

		4,037		1.62				842		0.36
Small business commercial - domestic		2,202		15.85				1,368		9.23

Total commercial		6,239		2.37				2,210		0.89

Total net charge-offs	$	25,267		3.53			$	10,690		1.59

By Business Segment
Deposits	$	276		3.39		%	$	260		4.60		%
Global Card Services ⁽³⁾		20,038		12.14				11,100		6.23
Home Loans & Insurance		5,053		5.20				2,128		2.84
Global Banking		4,347		1.81				1,234		0.52
Global Markets		78		0.99				17		0.13
Global Wealth & Investment Management		619		0.79				252		0.39
All Other ⁽³⁾		(5,144	)	(4.34	)			(4,301	)	(4.33	)

Total net charge-offs	$	25,267		3.53			$	10,690		1.59


Supplemental managed basis data
Credit card - domestic	$	12,767		11.88		%	$	7,125		6.24		%
Credit card - foreign		1,551		7.05				994		4.06

Total credit card managed net losses	$	14,318		11.06			$	8,119		5.85

(1)

(2)

Excludes small business commercial - domestic loans.

(3)

Global Card Services is presented on a managed basis. The securitization offset is included within All Other.

Loans are classified as domestic or foreign based upon the domicile of the borrower.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		42

Bank of America Corporation and Subsidiaries

Allocation of the Allowance for Credit Losses by Product Type

(Dollars in millions)


	September 30, 2009						June 30, 2009						September 30, 2008
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾
Residential mortgage	$	4,461	12.45	%	1.87	%	$	4,119	12.19	%	1.67	%	$	1,376	6.76	%	0.54	%
Home equity		9,719	27.12		6.39			8,664	25.64		5.59			4,744	23.32		3.12
Discontinued real estate		1,016	2.84		6.57			398	1.18		2.28			82	0.40		0.37
Credit card - domestic		5,182	14.46		10.53			5,153	15.25		10.53			3,624	17.81		5.75
Credit card - foreign		1,328	3.71		6.33			1,320	3.91		6.46			633	3.11		3.45
Direct/Indirect consumer		4,811	13.43		4.89			5,369	15.89		5.41			3,742	18.39		4.52
Other consumer		205	0.57		6.27			210	0.63		6.22			184	0.91		5.02

Total consumer		26,722	74.58		4.62			25,233	74.69		4.27			14,385	70.70		2.40

Commercial - domestic ⁽²⁾		5,385	15.03		2.59			5,486	16.24		2.52			4,072	20.02		1.86
Commercial real estate		3,007	8.39		4.14			2,396	7.09		3.19			1,376	6.76		2.16
Commercial lease financing		255	0.71		1.16			255	0.75		1.14			210	1.03		0.94
Commercial - foreign		463	1.29		1.68			415	1.23		1.39			303	1.49		0.92

Total commercial ⁽³⁾		9,110	25.42		2.76			8,552	25.31		2.48			5,961	29.30		1.76

Allowance for loan and lease losses		35,832	100.00	%	3.95			33,785	100.00	%	3.61			20,346	100.00	%	2.17

Reserve for unfunded lending commitments ⁽⁴⁾		1,567						1,992						427

Allowance for credit losses	$	37,399					$	35,777					$	20,773

(1)

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans measured at fair value under the fair value option for each loan and lease category. Loans measured at fair value include commercial - domestic loans of $4.0 billion, $4.4 billion and $4.0 billion, commercial - foreign loans of $2.1 billion, $2.5 billion and $1.2 billion, and commercial real estate loans of $98 million, $123 million and $213 million at September 30, 2009, June 30, 2009 and September 30, 2008.

(2)

Includes allowance for small business commercial - domestic loans of $2.7 billion, $2.8 billion and $2.2 billion at September 30, 2009, June 30, 2009 and September 30, 2008.

(3)

Includes allowance for loan and lease losses for impaired commercial loans of $1.3 billion, $1.6 billion and $561 million at September 30, 2009, June 30, 2009 and September 30, 2008.

(4)

Amounts for the periods beginning January 1, 2009 include the Merrill Lynch acquisition. The majority of the increase from September 30, 2008 relates to the fair value of the acquired Merrill Lynch unfunded lending commitments, excluding commitments accounted for under fair value option.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		43

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Global Card Services - Reconciliation

(Dollars in millions)


	Nine Months Ended September 30, 2009									Nine Months Ended September 30, 2008									Third Quarter 2009
	Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	15,312		$	(7,024	)	$	8,288		$	14,279		$	(6,402	)	$	7,877		$	4,995		$	(2,275	)	$	2,720
Noninterest income:
Card income		6,462			(1,355	)		5,107			7,564			1,768			9,332			2,183			(1,007	)		1,176
All other income		407			(94	)		313			1,359			(179	)		1,180			149			(26	)		123

Total noninterest income		6,869			(1,449	)		5,420			8,923			1,589			10,512			2,332			(1,033	)		1,299

Total revenue, net of interest expense		22,181			(8,473	)		13,708			23,202			(4,813	)		18,389			7,327			(3,308	)		4,019

Provision for credit losses		23,157			(8,473	)		14,684			14,314			(4,813	)		9,501			6,975			(3,308	)		3,667
Noninterest expense		6,024			—			6,024			6,980			—			6,980			1,968			—			1,968

Income (loss) before income taxes		(7,000	)		—			(7,000	)		1,908			—			1,908			(1,616	)		—			(1,616	)
Income tax expense (benefit)⁽³⁾		(2,473	)		—			(2,473	)		664			—			664			(580	)		—			(580	)

Net income (loss)	$	(4,527	)	$	—		$	(4,527	)	$	1,244		$	—		$	1,244		$	(1,036	)	$	—		$	(1,036	)


Balance sheet
Average - total loans and leases	$	220,666		$	(100,727	)	$	119,939		$	237,817		$	(106,177	)	$	131,640		$	213,340		$	(97,520	)	$	115,820
Period end - total loans and leases		207,727			(94,328	)		113,399			235,998			(102,048	)		133,950			207,727			(94,328	)		113,399

	Second Quarter 2009									First Quarter 2009									Fourth Quarter 2008
	Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	5,052		$	(2,358	)	$	2,694		$	5,265		$	(2,391	)	$	2,874		$	5,310		$	(2,299	)	$	3,011
Noninterest income:
Card income		2,164			(592	)		1,572			2,115			244			2,359			2,469			482			2,951
All other income		123			(33	)		90			135			(35	)		100			239			(40	)		199

Total noninterest income		2,287			(625	)		1,662			2,250			209			2,459			2,708			442			3,150

Total revenue, net of interest expense		7,339			(2,983	)		4,356			7,515			(2,182	)		5,333			8,018			(1,857	)		6,161

Provision for credit losses		7,741			(2,983	)		4,758			8,441			(2,182	)		6,259			5,851			(1,857	)		3,994
Noninterest expense		1,977			—			1,977			2,079			—			2,079			2,179			—			2,179

Loss before income taxes		(2,379	)		—			(2,379	)		(3,005	)		—			(3,005	)		(12	)		—			(12	)
Income tax benefit⁽³⁾		(762	)		—			(762	)		(1,131	)		—			(1,131	)		(3	)		—			(3	)

Net loss	$	(1,617	)	$	—		$	(1,617	)	$	(1,874	)	$	—		$	(1,874	)	$	(9	)	$	—		$	(9	)


Balance sheet
Average - total loans and leases	$	220,365		$	(102,046	)	$	118,319		$	228,461		$	(102,672	)	$	125,789		$	233,427		$	(99,116	)	$	134,311
Period end - total loans and leases		215,904			(100,438	)		115,466			221,984			(105,392	)		116,592			233,040			(100,960	)		132,080

	Third Quarter 2008
	Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	4,930		$	(2,207	)	$	2,723
Noninterest income:
Card income		2,289			507			2,796
All other income		534			(54	)		480

Total noninterest income		2,823			453			3,276

Total revenue, net of interest expense		7,753			(1,754	)		5,999

Provision for credit losses		5,602			(1,754	)		3,848
Noninterest expense		2,405			—			2,405

Loss before income taxes		(254	)		—			(254	)
Income tax benefit⁽³⁾		(87	)		—			(87	)

Net loss	$	(167	)	$	—		$	(167	)


Balance sheet
Average - total loans and leases	$	239,951		$	(105,919	)	$	134,032
Period end - total loans and leases		235,998			(102,048	)		133,950

(1)

Provision for credit losses represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

(2)

The securitization impact on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3)

Fully taxable-equivalent basis

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

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 sources. Loan securitization removes loans from the Consolidated Balance Sheet through the sale of loans to an off-balance sheet qualified special purpose entity which is excluded from the Corporation’s Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States (GAAP).

The performance of the managed portfolio is important in understanding Global Card Services’ results as it demonstrates the results of the entire portfolio serviced by the business. Securitized loans continue to be serviced by the business and are subject to the same underwriting standards and ongoing monitoring as held loans. In addition, excess servicing income is exposed to similar credit risk and repricing of interest rates as held loans. Global Card Services’ managed income statement line items differ from a held basis reported as follows:

•

Managed net interest income includes Global Card Services’ net interest income on held loans and interest income on the securitized loans less the internal funds transfer pricing allocation related to securitized loans.

•

Managed noninterest income includes Global Card Services’ noninterest income on a held basis less the reclassification of certain components of card income (e.g., excess servicing income) to record securitized net interest income and provision for credit losses. Noninterest income, both on a held and managed basis, also includes the impact of adjustments to the interest-only strips that are recorded in card income as management continues to manage this impact within Global Card Services.

•

Provision for credit losses represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		44

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation and Subsidiaries

All Other - Reconciliation

(Dollars in millions)


	Nine Months Ended September 30, 2009									Nine Months Ended September 30, 2008									Third Quarter 2009
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(5,399	)	$	7,024		$	1,625		$	(6,143	)	$	6,402		$	259		$	(1,867	)	$	2,275		$	408
Noninterest income:
Card income (loss)		(464	)		1,355			891			1,797			(1,768	)		29			(720	)		1,007			287
Equity investment income		8,191			—			8,191			651			—			651			886			—			886
Gains on sales of debt securities		3,584			—			3,584			349			—			349			1,441			—			1,441
All other income (loss)		(4,165	)		94			(4,071	)		(380	)		179			(201	)		(2,371	)		26			(2,345	)

Total noninterest income		7,146			1,449			8,595			2,417			(1,589	)		828			(764	)		1,033			269

Total revenue, net of interest expense		1,747			8,473			10,220			(3,726	)		4,813			1,087			(2,631	)		3,308			677

Provision for credit losses		(1,908	)		8,473			6,565			(3,158	)		4,813			1,655			(1,222	)		3,308			2,086
Merger and restructuring charges		2,188			—			2,188			629			—			629			594			—			594
All other noninterest expense		1,439			—			1,439			48			—			48			612			—			612

Income (loss) before income taxes		28			—			28			(1,245	)		—			(1,245	)		(2,615	)		—			(2,615	)
Income tax benefit⁽³⁾		(1,975	)		—			(1,975	)		(534	)		—			(534	)		(983	)		—			(983	)

Net income (loss)	$	2,003		$	—		$	2,003		$	(711	)	$	—		$	(711	)	$	(1,632	)	$	—		$	(1,632	)


Balance sheet
Average - total loans and leases	$	158,721		$	100,727		$	259,448		$	132,615		$	106,177		$	238,792		$	147,666		$	97,520		$	245,186
Period end - total loans and leases		145,856			94,328			240,184			146,365			102,048			248,413			145,856			94,328			240,184

	Second Quarter 2009									First Quarter 2009									Fourth Quarter 2008
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(1,622	)	$	2,358		$	736		$	(1,910	)	$	2,391		$	481		$	(1,875	)	$	2,299		$	424
Noninterest income:
Card income (loss)		(278	)		592			314			534			(244	)		290			368			(482	)		(114	)
Equity investment income (loss)		5,979			—			5,979			1,326			—			1,326			(388	)		—			(388	)
Gains on sales of debt securities		672			—			672			1,471			—			1,471			783			—			783
All other income (loss)		(4,335	)		33			(4,302	)		2,541			35			2,576			(331	)		40			(291	)

Total noninterest income		2,038			625			2,663			5,872			(209	)		5,663			432			(442	)		(10	)

Total revenue, net of interest expense		416			2,983			3,399			3,962			2,182			6,144			(1,443	)		1,857			414

Provision for credit losses		(9	)		2,983			2,974			(677	)		2,182			1,505			(613	)		1,857			1,244
Merger and restructuring charges		829			—			829			765			—			765			306			—			306
All other noninterest expense		590			—			590			237			—			237			142			—			142

Income (loss) before income taxes		(994	)		—			(994	)		3,637			—			3,637			(1,278	)		—			(1,278	)
Income tax expense (benefit)⁽³⁾		(1,737	)		—			(1,737	)		745			—			745			(748	)		—			(748	)

Net income (loss)	$	743		$	—		$	743		$	2,892		$	—		$	2,892		$	(530	)	$	—		$	(530	)


Balance sheet
Average - total loans and leases	$	159,144		$	102,046		$	261,190		$	169,593		$	102,672		$	272,265		$	145,241		$	99,116		$	244,357
Period end - total loans and leases		153,010			100,438			253,448			165,535			105,392			270,927			136,163			100,960			237,123

	Third Quarter 2008
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(2,342	)	$	2,207		$	(135	)
Noninterest income:
Card income		538			(507	)		31
Equity investment loss		(327	)		—			(327	)
Losses on sales of debt securities		(3	)		—			(3	)
All other income		66			54			120

Total noninterest income		274			(453	)		(179	)

Total revenue, net of interest expense		(2,068	)		1,754			(314	)

Provision for credit losses		(996	)		1,754			758
Merger and restructuring charges		247			—			247
All other noninterest expense		(86	)		—			(86	)

Loss before income taxes		(1,233	)		—			(1,233	)
Income tax benefit⁽³⁾		(540	)		—			(540	)

Net loss	$	(693	)	$	—		$	(693	)


Balance sheet
Average - total loans and leases	$	146,305		$	105,919		$	252,224
Period end - total loans and leases	$	146,365			102,048			248,413

(1)

Provision for credit losses represents provision for credit losses in All Other combined with the Global Card Services securitization offset.

(2)

The securitization offset on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3)

Fully taxable-equivalent basis

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		45

Appendix: Selected Slides from the

Third Quarter 2009 Earnings Release Presentation

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		46

LOGO

Items Impacting Net Revenue

($ in billions)

3Q09 2Q09

Total revenue, net of interest expense (FTE) $ 26.4 $ 33.1

Fair value credit adjustment on Merrill Lynch structured notes (1.8) (3.6)

Counterparty valuation adjustment on derivative liabilities (0.7) (1.6)

Capital markets disruption charges 0.2 (1.3)

Pre-tax gain on sale of CCB shares - 5.3

Pre-tax gain on sale of merchant processing business to a JV - 3.8

Total revenue, adjusted for the above items $ 28.7 $ 30.5

Revenue, adjusted for the above items, down from 2Q09

– Mortgage banking income declined $1.2 billion on lower production volumes and weaker MSR hedge performance

– Still strong but seasonally lower capital markets revenue

– Card income on held basis includes the effect of higher losses on securitized loans

Offset by

– Higher gains on sales of debt securities

– Higher banking fees

LOGO

Key Capital Markets Risk Exposures – 3Q09

Leveraged Loans

Funded commitments carried at $2.6 billion or 46% of gross value

– Exposure reduced 14% from 2Q09

– 3Q09 markdown of $25 million

Commercial Mortgage

Total commitments carried at $6.2 billion with $6.0 billion funded

– $5.1 billion of acquisition related large floating rate loan exposure at approximately 69% of gross value

– 3Q09 markdown of $345 million primarily floating rate positions

– 3Q09 markdown of $193 million on equity positions from acquisition related exposures

LOGO

Asset Quality

o Although global economies remain weak, stabilizing factors are emerging

o Consumer asset quality reflects broad based impacts of weak economy and housing markets on the consumer real estate portfolios

o Commercial asset quality includes continued deterioration in non-homebuilder commercial real estate

o Card managed losses have plateaued, but are expected to remain at elevated levels

o After several consecutive quarters of growth in net losses in excess of 20%, managed losses increased 11% from 2Q09 to $12.9 billion

o Held net charge-offs increased $923 million, or 11% to $9.6 billion from 2Q09

o Although the need for reserve addition continued, the addition was $2.1 billion in 3Q09 versus $4.7 billion in 2Q09

- Reserve additions (in billions) o $1.3 - purchased impaired CFC loans o $ .7 - consumer real estate o $ .6 - commercial real estate o $ .6 - maturing card securitizations o $ .1 - commercial other

- Reserve reductions (in billions) o $ .6 - consumer credit card o $ .4 - consumer lending o $ .1 - small business o $ .1 - dealer finance

30+ past due performing delinquencies were down $1.4 billion or 4% excluding $1.8 billion repurchases of delinquent government insured or guaranteed loans from securitizations Nonperforming loans and criticized exposure rose, but for the second consecutive quarter at a declining rate

($ in millions) 3Q09 2Q09 Change from 2Q09

Consumer Commercial Total Consumer Commercial Total Consumer Commercial Total

Loan allowance $ 26,722 $ 9,110 $ 35,832 $ 25,233 $ 8,552 $ 33,785 $ 1,489 $ 558 $ 2,047

Loans and leases 1 578,256 329,813 908,069 590,436 344,850 935,286 (12,180) (15,037) (27,217)

Allowance to loans ratio 4.62% 2.76% 3.95% 4.27% 2.48% 3.61% 0.35% 0.28% 0.34%

Net charge-offs $ 6,992 $ 2,632 $ 9,624 $ 6,597 $ 2,104 $ 8,701 $ 395 $ 528 $ 923

Net charge-off ratio 4.73% 3.09% 4.13% 4.39% 2.37% 3.64% 0.34% 0.72% 0.49%

Nonperforming loans $ 19,654 $ 12,260 $ 31,914 $ 17,772 $ 11,409 $ 29,181 $ 1,882 $ 851 $ 2,733

Allowance to NPLs 136% 74% 112% 142% 75% 116% (6)% (1)% (4)%

1 Excludes loans measured at fair value

LOGO

Provision Expense Highlights 1

($ in billions)

3Q09 2Q09 Inc. (Dec.)

Consumer

Net charge-offs $ 7.0 $ 6.6 $ 0.4

Change in “core” reserves 0.1 3.0 (2.8)

Change in purchased impaired loan reserve 1.4 0.8 0.6

Consumer provision expense 8.5 10.3 (1.8)

Commercial

Small business

Net charge-offs $ 0.8 $ 0.8 $ 0.0

Change in “core” reserves (0.1) (0.3) 0.1

Small business provision expense 0.7 0.5 0.1

Commercial and commercial real estate

Net charge-offs $ 1.8 $ 1.3 $ 0.5

Change in “core” reserves 0.7 1.1 (0.3)

Change in purchased impaired loan reserve (0.0) 0.1 (0.2)

Commercial and CRE provision expense 2.5 2.5 0.0

Total Commercial provision expense 3.2 3.0 0.2

Reserve for unfunded loans 0.0 0.0 (0.0)

Total Corporation

Net charge-offs 9.6 8.7 0.9

Change in reserves 2.1 4.7 (2.6)

Total provision expense $ 11.7 $ 13.4 $ (1.7)

Securitized losses 3.3 3.0 0.3

Total managed credit costs $ 15.0 $ 16.4 $ (1.3)

“Core” includes loans outside of purchased impaired loans

1 Amounts may not total due to rounding

“Core” consumer reserving in 3Q09 includes reserve additions in consumer real estate offset by reductions in consumer lending and dealer finance. Credit card reserve reductions were offset by additions for maturing securitizations returning to the balance sheet

Driven by additional write-downs on Countrywide purchased impaired loans as actual trends of loss frequency and severity exceed original estimates

“Core” commercial reserve addition reflects continued deterioration in non-homebuilder commercial real estate properties

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Consumer Credit Card Asset Quality

Consumer Credit Card

($ in mil, loans in bil) 3Q08 4Q08 1Q09 2Q09 3Q09 3Q09 vs. 2Q09

Loans EOP* $ 183.4 $ 182.2 $ 173.4 $ 169.8 $ 164.5 $ (5.3)

Net loss 2,996 3,263 3,794 5,047 5,477 430

30+ past due 10,801 12,168 13,611 12,969 12,101 (868)

Net loss % 6.4% 7.2% 8.6% 11.7% 12.9% 117 bps

30+ past due % 5.9% 6.7% 7.9% 7.6% 7.4% (29) bps

* Loans are shown on a managed basis

Consumer Credit Card – Managed Basis 1

• Ending loans of $164.5 billion declined $5.3 or 3% from 2Q09 from charge-offs as well as lower new balance

originations

• Net losses increased $430 million to $5.5 billion and the loss ratio climbed 117 basis points to 12.90%

– U.S. credit card portfolio refreshed FICO of 692 while originated average FICO was 773 in 3Q09

– California and Florida represent 24% of Domestic Card balances but 34% of managed losses

– Losses impacted by unemployment and remain higher in geographies with housing stress

• 30+ delinquencies decreased $868 million, or 29 basis points to 7.35% of loans

• 90+ delinquencies decreased $964 million, or 45 basis point to 3.76% of loans

• Net unused commitments declined more than $14 billion in 3Q09

1 Credit Card includes U.S., Europe and Canada consumer credit card

EOP = end of period

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Residential Mortgage Asset Quality 1

Residential Mortgage

3Q09

($ in mil, loans in bil) 3Q08 4Q08 1Q09 2Q09 3Q09 vs. 2Q09

Loans EOP $ 257.1 $ 248.1 $ 261.6 $ 246.0 $ 238.9 $ (7.1)

Net charge-off 242 466 785 1,085 1,247 162

30+ past due 6,002 7,927 7,926 7,533 9,455 1,922

Net charge-off % 0.4% 0.7% 1.2% 1.7% 2.1% 33 bps

30+ past due % 2.3% 3.2% 3.0% 3.1% 4.0% 90 bps

3Q09 30+ delinquencies include $1.8 billion in repurchases of delinquent government insured or guaranteed loans from securitizations. Excluding this 30+ delinquencies reflect continued stabilization.

3Q09 net charge-offs include $152 million associated with a revision of our estimate of the impact the REO process has on net realizable value, which impacted the net loss ratio 25 bps. Excluding this change, net losses were relatively flat and the loss ratio would have been 1.80%.

Residential Mortgage

o Net charge-offs increased $162 million to $1.2 billion and the loss ratio climbed 33 basis points to 2.05%

- 3Q09 includes charges of $152 million associated with a revision of our estimate of the impact the REO process has on net realizable value

- Loans with >90% RLTV represented 38% of the portfolio reflecting home price deterioration

- CA and FL represented 42% of the portfolio but 59% of losses

- CRA portfolio still drove a disproportionate share of losses (7% of loans with 22% of losses)

o Allowance of $4.5 billion increased $342 million and covers 1.87% of loans

o Nonperforming assets increased $2.0 billion from 2Q09 to $16.5 billion and now represent 6.87% of loans and foreclosed properties

- 57% of NPAs are greater than 180 days past due and are carried at appraised value

- Nonperforming TDRs increased $841 million and comprise 18% of residential mortgage NPAs o About 60% of the 3Q09 nonperforming residential mortgage modifications were performing at time of reclassification into TDR

o 30+ performing past dues increased $1.9 billion compared to 2Q09 and the ratio rose 90 bps to 3.96% of loans due to repurchases of delinquent government insured or guaranteed loans from securitizations

1 Discontinued Real Estate is not included EOP = end of period

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Home Equity Asset Quality 1

Home Equity

($ in mil, loans in bil) 3Q08 4Q08 1Q09 2Q09 3Q09 3Q09 vs. 2Q09

Loans EOP $ 151.8 $ 152.5 $ 157.6 $ 155.1 $ 152.0 $ (3.1)

Net charge-off 964 1,113 1,681 1,839 1,970 131

30+ past due 1,939 2,661 2,647 2,001 2,185 184

Net charge-off % 2.5% 2.9% 4.3% 4.7% 5.1% 39 bps

30+ past due % 1.3% 1.8% 1.7% 1.3% 1.4% 15 pbs

3Q09 net charge-offs include acceleration of $223 million due to an adjustment for the protracted nature of collections under some insurance contracts. Excluding this charge net charge-offs declined $93 million and the 3Q09 loss rate would have been 4.52% a decline of 19 bps.

Home Equity

• Net charge-offs increased $131 million to $2.0 billion and the loss ratio climbed 39 basis points to 5.10%

– Includes the acceleration of $223 million due to an adjustment for the protracted nature of collections under some

insurance contracts. Excluding this charge losses would have declined $93 million and the net loss ratio would have

been 4.52%, down 19 bps from 2Q09.

– Loans with >90% RCLTV2 represent 50% of portfolio reflecting home price deterioration

– CA and FL represent 40% of the portfolio but 61% of losses

• Allowance of $9.7 billion was increased mainly on the purchased impaired portfolio and covers 6.39% of loans (5.12%

excluding purchased impaired loans)

• Nonperforming assets decreased $146 million from 2Q09 to $3.8 billion and now represent 2.52% of loans and foreclosed properties

– 17% of NPAs are greater than 180 days past due and are carried at appraised value

– Nonperforming TDRs increased $218 million and comprise 43% of home equity NPAs

• 30+ performing delinquencies increased $184 million or 15 bps to 1.44 % compared to 2Q09

1 Discontinued Real Estate is not included

2 RCLTV = Refreshed combined loan to value

EOP = end of period

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Direct/Indirect

3Q09

($ in mil, loans in bil) 3Q08 4Q08 1Q09 2Q09 3Q09 vs. 2Q09

Loans EOP $ 82.8 $ 83.4 $ 99.7 $ 99.2 $ 98.4 $ (0.8)

Net charge-off 845 1,054 1,249 1,475 1,451 (24)

30+ past due 3,211 3,980 4,145 4,019 3,945 (74)

Net charge-off % 3.9% 5.0% 5.0% 5.9% 5.8% (14) bps

30+ past due % 3.9% 4.8% 4.2% 4.1% 4.0% (4) bps

Consumer Lending (Included in Direct/Indirect)

3Q09

($ in mil, loans in bil) 3Q08 4Q08 1Q09 2Q09 3Q09 vs. 2Q09

Loans EOP $ 28.7 $ 28.2 $ 26.6 $ 24.2 $ 21.9 $ (2.3)

Net charge-off 608 746 921 1,208 1,187 (21)

30+ past due 1,982 2,449 2,687 2,405 2,207 (198)

Net charge-off % 8.4% 10.4% 13.5% 18.9% 20.3% 137 bps

30+ past due % 6.9% 8.7% 10.1% 9.9% 10.1% 13 bps

Direct/Indirect Loans

o Net charge-offs decreased $24 million to $1.5 billion driven by a decrease in Consumer Lending and the loss ratio decreased 14 bps to 5.76%

o Allowance of $4.8 billion covers 4.89% of loans

o Dealer Finance portfolio1of $41.4 billion had a decline of 11 basis point in loss rate to 1.85%

- The loss rate on the $28.7 billion auto portfolio increased 11 basis points in 3Q09 to 1.69%

- Dealer Finance portfolio 30+ delinquencies decreased $51 million, or 9 basis points to 2.73% of loans

Consumer Lending (part of Direct/Indirect)

o Consumer Lending portfolio of $21.9 billion had decreased losses of $21 million with a 3Q09 loss rate of 20.27%

o Allowance of $3.8 billion covers 17.17% of loans

o 30+ delinquencies declined $198 million, and increased 13 basis points to 10.07% of loans

o 90+ delinquencies declined $187 million or 28 basis points to 5.22%

1 Includes auto and marine/recreational vehicle originations, and auto purchased loan portfolios EOP = end of period

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Countrywide Purchased Impaired Loan Portfolio1

($ in millions) Total CFC Residential Home Discontinued

Impaired Mortgage Equity Real Estate

Charge-offs

3Q08 $ 1,517 $ 177 $ 648 $ 692

4Q08 1,643 199 722 722

1Q09 2,090 261 890 939

2Q09 2,275 305 964 1,006

3Q09 1,806 243 866 697

Total recurring 9,331 1,185 4,090 4,056

Other adjustments

3Q08 conforming accounting adjustments 464 59 120 285

3Q09 REO net realizable value adj. 379 106 - 273

Total Other adjustments 843 165 120 558

Total charge-offs $ 10,174 $ 1,350 $ 4,210 $ 4,614

Countrywide impaired loan balance as of September 30, 2009

Carrying value before purchase accounting mark $ 39,798

Remaining purchase accounting mark2 (1,117)

Carrying Value 38,681

Additional impaired allowance3 (3,536)

Book value net of allowance $ 35,145

o 3Q09 includes an increase in the allowance through provision of $1.3 billion compared to $621 million in 2Q09

- Recurring charge-offs peaked and are trending down

- $1.1 billion in remaining purchase accounting marks and the additional reserves of $3.5 billion leaves a total of $4.6 billion for purchased impaired loans from the Countrywide acquisition

- Most significant remaining losses against existing reserves expected to be realized over the next few quarters

- Continued refinement of loss estimates reflects increased frequency and severity performance versus expectations

- Loss estimates were offset by improvements in the home price forecast and benefits from modification efforts

o Remaining mark and allowance of $4.6 billion coupled with the charge-offs reflect a 29% reduction on the unpaid principal balance (UPB)

o Loans with $33 billion of UPB in the impaired portfolio have experienced no charge-offs and over $27 billion of this amount is current

- Of the roughly $6 billion loans that are noncurrent, but have had no charge-offs, approximately one third are early stage delinquent

o The loans that have experienced charge-offs are carried at net realizable value of approximately $6 billion

1 Charge-offs shown do not flow through GAAP charge-offs as they were considered as part of the original purchase accounting and are broken out

2 by original product classifications even if loans were modified into another product type

The original credit mark taken on the acquired Countrywide purchased impaired loans was $11.9 billion and has been reduced by charge-offs and

3 TDRs removed from the impaired portfolio

Additional allowance was established through provision expense in 4Q08 of $750 million, 1Q09 of $853 million, 2Q09 $621 million and $1.3 billion in 3Q09

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Consumer Asset Quality Key Indicators

($ in millions)

Residential Mortgage

Home Equity

Discontinued Real Estate

3Q09 2Q09 3Q09 2Q09 3Q09 2Q09

As Reported

Excluding Purchased Impaired Loan Portfolio 1

As Reported

Excluding Purchased Impaired Loan Portfolio 1

As Reported

Excluding Purchased Impaired Loan Portfolio 1

As Reported

Excluding Purchased Impaired Loan Portfolio 1

As Reported

Excluding Purchased Impaired Loan Portfolio 1

As Reported

Excluding Purchased Impaired Loan Portfolio 1

Loans EOP $ 238,921 $ 227,742 $ 245,967 $ 235,555 $ 152,039 $ 138,427 $ 155,058 $ 141,284 $ 15,460 $ 1,570 $ 17,490 $ 2,104

Loans Avg 241,924 231,214 253,803 243,097 153,269 139,698 156,599 142,818 16,570 1,902 18,309 1,793

Net losses $ 1,247 $ 1,247 $ 1,085 $ 1,085 $ 1,970 $ 1,970 $ 1,839 $ 1,839 $ 37 $ 37 $ 35 $ 35

% of avg loans 2 2.05 % 2.14 % 1.72 % 1.79 % 5.10 % 5.60 % 4.71 % 5.17 % 0.89 % 7.76 % 0.76 % 7.81 %

Allowance for loan losses $ 4,461 $ 4,459 $ 4,119 $ 4,119 $ 9,719 $ 7,085 $ 8,664 $ 6,756 $ 1,016 $ 116 $ 398 $ 82

% of Loans 1.87 % 1.96 % 1.67 % 1.75 % 6.39 % 5.12 % 5.59 % 4.78 % 6.57 % 7.41 % 2.28 % 3.92 %

Avg. refreshed (C)LTV 3 86 83 95 95 92 88

90%+ refreshed (C)LTV 3 38 % 34 % 50 % 50 % 23 % 21 %

Avg. refreshed FICO 719 721 712 713 631 644

% below 620 FICO 14 % 11 % 12 % 12 % 34 % 24 %

1 Represents the purchased impaired loan portfolio acquired from Countrywide

2 Adjusting for the $152 million impact of revising our estimate of the impact the REO process has on net realizable value, the 3Q09 reported loss rate in residential mortgage would have been 1.80%. Adjusting for the acceleration of $223 million due to an adjustment for the protracted nature of collections under some insurance contracts, reported 3Q09 home equity losses would have declined by $93 million and the loss rate would have declined 19 bps to 4.52%.

3 Loan to value (LTV) calculations apply to the residential mortgage and discontinued real estate portfolio. Combined loan to value

(CLTV) calculations apply to the home equity portfolio.

EOP = end of period

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Consumer Asset Quality Key Indicators (cont’d)

($ in millions)

Credit Card

Other 1

Total Managed Consumer

Held Managed

3Q09 2Q09 3Q09 2Q09 3Q09 2Q09 3Q09 2Q09

Loans EOP $ 70,206 $ 69,377 $164,534 $ 169,815 $ 101,630 $ 102,544 $672,584 $ 690,874

Loans Avg 70,940 70,546 $168,460 $ 172,592 $ 103,343 $ 103,600 $686,566 $ 704,903

Net losses $ 2,169 $ 2,064 $ 5,477 $ 5,047 $ 1,569 $ 1,574 $ 10,300 $ 9,580

% of avg loans 12.13% 11.74% 12.90% 11.73% 6.02% 6.09% 5.98% 5.45%

Allowance for loan losses $ 6,510 $ 6,473 $ 5,016 $ 5,579 $ 26,722 $ 25,233

% of Loans 9.27% 9.33% 4.93% 5.44% 4.62% 4.27%

The average refreshed FICO for the U.S. Credit Card portfolio was 692 at 3Q09 compared to 691 at 2Q09

The percentage below 620 FICO was 17% at 3Q09 and 2Q09

1 Other primarily consists of the following portfolios of loans: Consumer Lending and Dealer Financial Services

EOP = end of period

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Commercial Asset Quality Key Indicators 1

($ in millions)

Commercial 2

Commercial Real Estate

Small Business

Commercial Lease

Financing Total Commercial

3Q09 2Q09 3Q09 2Q09 3Q09 2Q09 3Q09 2Q09 3Q09 2Q09

Loans EOP 217,30$ 3 $ 229,290 $ 72,662 $ 75,081 $ 17,938 $ 18,092 $ 21,910 $ 22,387 $329,813 $ 344,850

Loans Avg 223,068 239,753 74,170 75,479 18,095 18,604 22,068 22,026 337,401 355,862

Net charge-offs $ 922 $ 658 $ 873 $ 629 $ 796 $ 773 $ 41 $ 44 $ 2,632 $ 2,104

% of avg loans 1.64 % 1.10 % 4.67 % 3.34 % 17.45 % 16.69 % 0.72 % 0.81 % 3.09 % 2.37 %

90+ Performing DPD $ 254 $ 277 $ 196 $ 308 $ 700 $ 804 $ 25 $ 35 $ 1,175 $ 1,424

% of Loans 3 0.12 % 0.12 % 0.27 % 0.41 % 3.90 % 4.44 % 0.11 % 0.15 % 0.36 % 0.41 %

Nonperforming loans $ 4,980 $ 4,454 $ 6,943 $ 6,651 $ 167 $ 200 $ 170 $ 104 $ 12,260 $ 11,409

% of Loans 3 2.29 % 1.94 % 9.55 % 8.86 % 0.93 % 1.11 % 0.78 % 0.46 % 3.72 % 3.31 %

Allowance for loan losses $ 3,153 $ 3,087 $ 3,007 $ 2,396 $ 2,695 $ 2,814 $ 255 $ 255 $ 9,110 $ 8,522

% of Loans 1.45 % 1.35 % 4.14 % 3.19 % 15.02 % 15.55 % 1.16 % 1.14 % 2.76 % 2.48 %

Reservable Criticized

Utilized Exposure 3,4 $ 33,561 $ 32,512 $ 22,910 $ 21,166 $ 1,651 $ 1,767 $ 1,937 $ 1,735 $ 60,059 $ 57,180

% of Total Exposure 11.62 % 10.77 % 29.49 % 26.40 % 9.18 % 9.74 % 8.84 % 7.75 % 14.78 % 13.53 %

1 Does not include certain commercial loans measured at fair value under the fair value option

2 Includes commercial domestic and commercial foreign

3 Excludes the Merrill Lynch purchased impaired loan portfolio

4 Excludes utilized exposure which is marked to market including derivatives, foreclosed property, assets held for sale and FVO loans EOP = end of period

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Commercial Real Estate

Homebuilders

Homebuilder utilized balances at 3Q09 included in commercial real estate decreased $1.0 billion to $9.5 billion compared to 2Q09. These utilized balances are included in total homebuilder exposure of $12.1 billion

– Reservable criticized utilized exposure decreased $667 million to $6.7 billion (29% of reservable criticized utilized commercial real estate exposure)

– NPAs decreased $226 million to $3.5 billion (46% of commercial real estate NPAs)

– 3Q09 charge-offs were down $6 million to $376 million compared to 2Q09

Homebuilder construction and land development utilized balances at 3Q09 decreased $951 million to $7.1 billion compared to 2Q09

– Reservable criticized utilized exposure decreased $709 million to $5.9 billion

Non-Homebuilder

Non-homebuilder utilized balances at 3Q09 decreased $2.2 billion to $73.9 billion compared to 2Q09

– Reservable criticized utilized exposure increased $2.4 billion to $16.2 billion (71% of reservable criticized utilized commercial real estate exposure) driven by office, multi-family rental and multi-use properties

– NPAs rose $661 million to $4.1 billion (54% of commercial real estate NPAs) driven by office and multi-family rental properties

– 3Q09 charge-offs were $498 million compared to $246 million in 2Q09 driven by multi-family rental and multi-use properties

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Net Interest Income Analysis

($ in millions)

3Q09 2Q09 Change

Net interest income (FTE)

Reported $11,753 $ 11,942 $ (189)

Impact of securitizations 2,567 2,734 (167)

Managed NII 14,320 14,676 (356)

Market-based (1,451) (1,524) 73

Managed Core NII $ 12,869 $ 13,152 $ (283)

Reported Core NII 10,302 10,418 (116)

Average assets

Reported $ 1,790,000 $ 1,811,981 $ (21,981)

Impact of securitizations1 81,703 86,154 (4,451)

Managed assets 1,871,703 1,898,135 (26,432)

Market-based (468,999) (476,598) 7,599

Managed Core $ 1,402,704 $ 1,421,537 $ (18,833)

Reported Core 1,321,001 1,335,383 (14,382)

Net interest yields

Reported 2.61% 2.64% (3) bps

Impact of securitizations 12.47 12.73 (26) bps

Managed assets 3.04 3.10 (6) bps

Market-based 1.23 1.28 (5) bps

Managed Core 3.65 3.71 (6) bps

Reported Core 3.11 3.13 (2) bps

1 Represents average securitized loans less accrued interest receivable and certain securitized bonds retained

• Core net interest income declined $283 million on a managed basis as loans continue to decline

• Lower loan levels from softer demand cost approximately $350 million compared to 2Q09

• Credit related cost impacts increased approximately $40 million to $1.2 billion in the current period

• An extra day benefited net interest income

• Market-based NII fell $73 million due to spread compression and continued declines in the average balance sheet

• Managed core assets declined $18.8 billion

– Consumer loans declined $21.3 billion led by residential mortgage and card

– Commercial loans declined $16.2 billion

• Market related assets declined 2%

• Managed core net interest yield decreased 6 bps to 3.65%

• Decrease was due to compression as higher yielding assets decline

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Capital Position Strengthened

Tier 1 Capital (1)

$0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200

$100.2 $120.8 $171.1 $190.9 $193.1 7.6% 9.2% 10.1% 11.9% 12.5%

“Well-capitalized” threshold

0% 2% 4% 6% 8% 10% 12% 14% 16% 18%

3Q08 4Q08 1Q09 2Q09 3Q09

Tier 1 Common (2)

$0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200

$56.1 $63.3 $76.1 $110.4 $112.4 4.2% 4.8% 4.5% 6.9% 7.3%

0% 2% 4% 6% 8% 10% 12% 14% 16% 18%

3Q08 4Q08 1Q09 2Q09 3Q09

Tangible Common Equity (3)

$0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200

$47.9 $50.7 $69.6 $100.8 $103.8 2.8% 2.9% 3.1% 4.7% 4.8%

0% 2% 4% 6% 8% 10% 12% 14% 16% 18%

3Q08 4Q08 1Q09 2Q09 3Q09

• Tier 1 capital shows a $100 billion excess compared to well-capitalized 6% minimum Tier 1 requirement

• Tier 1 common shows a $50 billion excess above 4% of risk-weighted assets

(1) Tier 1 capital ratio equals Tier 1 capital divided by risk weighted assets.

(2) Tier 1 common equity ratio equals Tier 1 capital excluding preferred stock, trust preferred securities, hybrid securities and minority interest divided by risk-weighted assets.

(3) Tangible common equity ratio equals common shareholders’ equity less goodwill and intangible assets (excluding mortgage service rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities.

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Regulatory and GAAP-Based Capital

($ in millions)

September 30, 2009 June 30, 2009 Change

Amount Ratio Amount Ratio Amount bps

Regulatory-based Capital

Tier 1 common $ 112,357 7.25% $ 110,383 6.90% $ 1,974 35

Tier 1 total 193,073 12.46% 190,874 11.93% 2,199 53

Risk-weighted assets 1,548,962 1,599,569 (50,607)

GAAP-based Capital

Tangible common equity 103,833 4.82% 100,844 4.67% 2,989 15

Tangible total equity 162,673 7.55% 159,504 7.39% 3,169 16

Tangible assets 2,156,033 2,158,746 (2,713)

o Regulatory capital ratios improvement driven by lower risk-weighted assets and slightly higher regulatory capital levels

o Tangible common equity increase due to improved OCI balances

o SFAS 166 and 167 are scheduled to become effective January 1, 2010, which will result in the consolidation of certain entities

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Merger Integrations Tracking Well

Countrywide

Completed deposit system conversion 3Q09

Mortgage servicing platform conversion scheduled for 4Q09

Cost savings remain on track

All done while originating home loans of nearly $300 billion YTD, improving market share to more than 20%

Helping customers avoid foreclosure through more than 215,000 loan modifications YTD. In addition, approximately 98,000 Bank of America customers are already in a trial period modification under the government’s Making Home Affordable program at September 30

Merrill Lynch

3Q09 cost savings of $1 billion increasing YTD savings of $2.2 billion (well ahead of original ‘09 estimate)

Retained 94% of high-producing financial advisors

Received more than 1,400 referrals from FAs to the commercial bank

31% of FAs have sold a banking product to their customers

Launched the new sales and trading portal to more than 40,000 clients

Rolled out the Merrill Lynch brand to wealth management clients

Maintained position as the 3rd largest fee producer of global investment banking revenue