Bank of America Corporation is a holding company that provides banking and financial services through its bank and nonbank subsidiaries, including bank and broker-dealer units. Its products span loans, letters of credit, derivatives, debt securities, residential mortgages and home equity lending, consumer credit cards, and the clearing of transactions for clients. It also undertakes trading, market-making, investment banking, underwriting, and wealth management and advisory work.
Customers range from consumer and commercial borrowers to institutional clients such as broker-dealers, commercial and investment banks, insurance companies, mutual funds, hedge funds, alternative asset managers and clearinghouses, alongside sovereign nations, US states and municipalities. The group earns net interest income and noninterest income, the latter including asset- and performance-based fees on assets under management and fees from investment banking and underwriting. Funding comes chiefly from globally sourced deposits, supplemented by capital-markets borrowing and securitisation with government-sponsored enterprises.
The parent manages liquidity on a legal-entity basis and operates internationally, including in emerging markets. As a globally systemically important bank, it must submit a resolution plan every two years to the FDIC and Federal Reserve, favouring a single-point-of-entry strategy.
Based on Bank of America's 10-K filed February 25, 2026.