---
schema_version: "secwatch.filing_event.v1"
accession: "0000070858-24-000006"
form_type: "8-K"
ticker: "BAC"
cik: "0000070858"
company_name: "BANK OF AMERICA CORP /DE/"
filed_at: "2024-01-08T23:59:59+00:00"
generated_at: "2026-06-07T02:41:39.743024+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000070858-24-000006
- form_type: 8-K
- ticker: BAC
- cik: 0000070858
- company_name: BANK OF AMERICA CORP /DE/
- filed_at: 2024-01-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/70858/000007085824000006/0000070858-24-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/70858/000007085824000006/bac-20240108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000070858-24-000006
- JSON: https://secwatch.observer/filing/0000070858-24-000006.json
- Plain text: https://secwatch.observer/filing/0000070858-24-000006.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.