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Bank CEOs Testify Before Senate Banking, Housing, and Urban Affairs Committee

Drew Angerer

Financial institution of America (NYSE:BAC) is sitting on a ∼$109 billion paper loss; a consequence of its capital allocation determination made when rates of interest had been low, and cash/ liquidity low-cost. Like now-bankrupt SVB, Financial institution of America obtained huge quantities of deposit inflows (∼$670 billion) throughout the COVID pandemic, deposits

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