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]

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10 Responses to “Brian Moynihan Imposing His Own Sanctions On Russia”

  1. guest says:

    the face never gets old

  2. Sandy Gasparino says:

    And then there was VAGINAAAAAAHHHH!

  3. Captain Oblivious says:

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

    Sorry I couldn't help myself.

    • Major Obtuse says:

      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.

  4. Histeric Hystorian says:

    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. Guest says:

    Savage upper decker brah!

  6. Al Gore says:

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

  7. New York City??!! says:

    But you're still headquartered in North Carolina….