Bank of America will write off $600 million in the fourth quarter

Moscow. December 30. Bank of America (BofA) intends to conduct a write-off of approximately $600 million in the fourth quarter of 2015 in connection with the redemption of certain securities in the amount of $2 billion, according to MarketWatch.

Earlier in December, BofA and Citigroup gave pessimistic forecasts in respect of the profits from trading in the fourth quarter due to the high capitalization requirements and continued low interest rates.

It is expected that the Bank will publish its accounts for the fourth quarter and for 2015 in whole on 19 January 2016.