Bullish Investors Pile Into Rising Market Shares, Says Financial Institution Of America Survey
Before I pass the call to Paul to review the fourth quarter, I wish to hit a number of points. First, I wish to provide some brief commentary on 2020 for the total 12 months, then speak about what we see within the economy as we enter 2021. Good day, everybody, and welcome to right now’s Bank of America fourth-quarter earnings bulletins conference name. At this time, all members are on a pay attention-solely mode. Later you’ll have the opportunity to ask questions during the query-and-reply session. Please notice, at present’s call is being recorded and it is now my pleasure to show the conference over to Lee McEntire.
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These prices have been always incurred as a net income reduction of their three way partnership accounting however now come via our expense line. Setting aside the elevated — internet elevated COVID-associated expense and a change in kind of merchant services, our groups proceed to do a great job managing prices and you may see that later when Paul talks about it. It maintains a focus on utilizing productiveness gains to fund all the investments we’re making throughout the franchise and together with growing shopper flows.
I would use a loss of round $200 million per quarter with a larger loss in the fourth quarter. That’s a significant type of tailwind if — if mortgage-again — if mortgage charges improve. I may most likely give you some sense of how much, what % of the improvement is from that. But I do not — I just don’t have it off the highest of my head. I perceive you are asking — I perceive you’re asking for the dollar quantity and I’m not — I’m not going to provide the dollar quantity.
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