BAC recognizes $1.6B non-cash pretax charge from BSBY transition; CET1 down 8 bps

BANK OF AMERICA CORP /DE/

Net non-cash pretax charge of ~$1.6B in Q4 2023 from de-designation of BSBY-indexed loan hedges.
Charge presented in revenue through market making; expected to reverse into interest income through 2026.
CET1 ratio reduced by 8 basis points as of Dec 31, 2023.
Impact is solely accounting; economics of loans will shift to SOFR with nominal economic effect.
Q4 2023 financial results to be reported on Jan 12, 2024.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.