Cash Is King: BofA Raising Money
Call your broker, there’s a new buy in the market. Bank of America may be selling stock to raise more money as the already accepted $163 million was merely enough to keep their heads above water.
Bank of America Corp., the largest U.S. bank, needs to raise $36.6 billion in equity to bring capital ratios in line with its peers, according to Oppenheimer & Co.
Keep reading at Bloomberg.com.
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