Rich and geographically dispersed U.S. core deposit base Business profile characterized by a diverse mix of global banking and nonbanking businesses High systemic importance in U.S. banking sector Ongoing pressures on revenues and overall performance due to unfavorable operating environment and competitive pressures Highly confidence-sensitive nature of core business lines Ongoing elevated headline and legislative/regulatory risks Standard & Poor's Ratings Services' outlook on U.S.-based Bank of America Corp. (BofA) is negative, reflecting the uncertainty and volatility associated with its mortgage business and our expectation of muted earnings performance. Future legal costs associated with BofA's mortgage business could be significant; however, possible outcomes span a wide spectrum. We do not believe this issue will be fully resolved for years. This may...
Companies mentioned in this report are:
- Bank of America Corp.
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