Bank of America Corp. Chief Financial Officer Bruce Thompson provided few details Wednesday on the capital miscalculation that last month forced the bank to suspend its plans to raise its dividend…Asked by Barclays analyst Jason Goldberg how the error had happened, or how it might color the Federal Reserve’s view of the bank, Mr. Thompson repeated points the bank has made for the past two and a half weeks: The error didn’t affect earnings, was discovered internally, and was reported promptly to regulators. The error resulted in the bank’s capital ratios being lower than previously thought, though the ratios are still higher than regulatory standards. Mr. Thompson said Wednesday that “we need to get back on track with respect to the progress we’ve made” on the capital ratio. He said the bank would “get back to doing a great job” on the stress test process and share buybacks. [WSJ]

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Comments (6)

  1. Posted by Guest | May 14, 2014 at 1:34 PM

    I agree with Bruce. As long as it's in the ballpark. It's not really an exact science anyway.

    -E. Callan

  2. Posted by Hobo Banker | May 14, 2014 at 1:51 PM

    Next these B of A fuckers will want a "success bonus" for getting the caprats back to being OK.

  3. Posted by Guest | May 14, 2014 at 3:46 PM

    Bank of Errors and Omissions

  4. Posted by UFOinsider | May 15, 2014 at 9:22 AM

    To be fair, at least he didn't make his company's Callan report this, unlike D. Fuld.

    To be more fair, hey….she's wayyyy hotter than Brucie

  5. Posted by UFOinsider | May 15, 2014 at 9:23 AM

    Welcome to the machine my son

  6. Posted by Xenomorph | May 15, 2014 at 9:23 AM

    Let them eat cake

    -Bruce Antionette