Bullish Investors Pile Into Rising Market Shares, Says Financial Institution Of America Survey

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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Before I turn the decision over to Brian and Paul, just let me remind you that we may make ahead-wanting statements and refer to non-GAAP monetary measures in the course of the call that regards varied parts of our monetary outcomes. Forward-trying statements are primarily based on our management’s current expectations and assumptions which might be subject to risks and uncertainties, and particularly as we proceed to function throughout this pandemic interval. Factors that will cause precise results to materially differ from expectations are detailed in our earnings supplies and SEC filings that are obtainable on the web site. Banc of America Securities Limited has permitted the Sites for the aim of Section fifty seven of the Financial Services Act of 1986. Banc of America Securities Limited is regulated for the conduct of funding business within the United Kingdom by the Securities and Futures Authority Limited. No access to the Sites shall be given in the United Kingdom to Private Customers, as that time period is defined underneath the principles of The Securities and Futures Authority Limited; and any investments is not going to be made by us to any Private Customer.

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