• 30 Jul 2014 at 12:16 PM
  • Banks

Brian Moynihan Imposing His Own Sanctions On Russia

The amount of money Bank of America stands to lose if Vladimir Putin continues to be Vladimir Putin is getting smaller and smaller every quarter.

The bank said in a regulatory filing late Tuesday that its net exposure to Russia stood at $3.94 billion, down more than 40% from $6.72 billion at the end of December and down from $5.21 billion at the end of March.

The bank repeated language it used in a regulatory filing in early May, citing geopolitical tension caused by “Russian intervention in Ukraine.” The U.S. and the European Union adopted broad economic sanctions against Russia on Tuesday, including against its banks and oil industry.

Bank of America Continues to Slash Exposure to Russia [WSJ]

10 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (10)

  1. Posted by guest | July 30, 2014 at 1:37 PM

    the face never gets old

  2. Posted by Sandy Gasparino | July 30, 2014 at 1:59 PM

    And then there was VAGINAAAAAAHHHH!

  3. Posted by Captain Oblivious | July 30, 2014 at 2:12 PM

    In Soviet Russia, exposure slash you!!!!!

    Sorry I couldn't help myself.

  4. Posted by Histeric Hystorian | July 30, 2014 at 2:22 PM

    post-2008 risk management: Let's make sure we're not too exposed to big events where there exists evidence that we might be at substantial downside risk. The different departments need to accept this, even if it means less earnings this year.

    pre-2008 risk management: Woo hoo someone replied to an e-mail I sent last month! Everything's coming up Milhouse….

  5. Posted by Major Obtuse | July 30, 2014 at 2:53 PM

    Don't worry, we've all come to realize that. You forgot to post on one of the earlier stories – just want to make sure you maintain your perfect record for the month.

  6. Posted by Guest | July 30, 2014 at 2:55 PM

    Savage upper decker brah!

  7. Posted by Al Gore | July 30, 2014 at 2:56 PM

    I did not invent the internet to read dumbass comments like these posted today!

  8. Posted by Finance Tool | July 30, 2014 at 3:00 PM

    Are you saying that Captain O is not a favorite Major?

  9. Posted by New York City??!! | July 30, 2014 at 4:19 PM

    But you're still headquartered in North Carolina….

  10. Posted by Short Memories | July 30, 2014 at 4:48 PM

    It'll pass.