Bank of America posted a quarterly profit on Thursday, boosted by loan growth, improving credit quality and one-off gains on asset sales, sending its shares up as much as 7 percent.
But the focus turned to the bank's capital levels, which although higher than before, still lag rivals when it comes to meeting the global regulatory standard known as Basel III.
More details are available in Bank of America's press release. I found this excerpt interesting:
Average deposit balances rose nearly $25 billion to $1.03 trillion in the fourth quarter of 2011 from $1.01 trillion in the fourth quarter of 2010.
Deposits are up which isn't good news for deposit rates