1) The document discusses Bank of America's enterprise risk management strategies and capabilities. It highlights how the bank manages various types of risk, including credit, market, and operational risk across its consumer and commercial businesses.
2) Key strengths that help the bank manage risk include its breadth of client access, industry insights, and integrated risk management structure.
3) The bank has improved its risk profile by rebalancing its commercial credit portfolio and enhancing risk monitoring tools.
Fairfax County Executive Anthony Griffin presented his proposed budget to the Board of Supervisors on Feb. 22, 2011. More details at http://www.fairfaxcounty.gov/budget
Fairfax County Executive Anthony Griffin presented his proposed budget to the Board of Supervisors on Feb. 22, 2011. More details at http://www.fairfaxcounty.gov/budget
This is an important aspect of HR especially in a Current Scenario when talent engagement is very important and Reward management plays a vital role in it.
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If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
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Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
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2. Forward Looking Statements
This presentation contains forward-looking statements, including statements about the financial
conditions, results of operations and earnings outlook of Bank of America Corporation. The forward-
looking statements involve certain risks and uncertainties. Factors that may cause actual results or
earnings to differ materially from such forward-looking statements include, among others, the
following: 1) projected business increases following process changes and other investments are lower
than expected; 2) competitive pressure among financial services companies increases significantly; 3)
general economic conditions are less favorable than expected; 4) political conditions including the
threat of future terrorist activity and related actions by the United States abroad may adversely affect
the company’s businesses and economic conditions as a whole; 5) changes in the interest rate
environment reduce interest margins and impact funding sources; 6) changes in foreign exchange
rates increases exposure; 7) changes in market rates and prices may adversely impact the value of
financial products; 8) legislation or regulatory environments, requirements or changes adversely affect
the businesses in which the company is engaged; 9) changes in accounting standards, rules or
interpretations, 10) litigation liabilities, including costs, expenses, settlements and judgments, may
adversely affect the company or its businesses; 11) mergers and acquisitions and their integration
into the company; and 12) decisions to downsize, sell or close units or otherwise change the business
mix of any of the company. For further information regarding Bank of America Corporation, please
read the Bank of America reports filed with the SEC and available at www.sec.gov.
2
3. Our Core Capability is Managing Risk to Enable Growth
• Begins with a culture of
performance management and
accountability
• Comprehensive & dynamic:
Credit, Market, Operational
and Strategic
• Forward-looking: Insight and
information to define risk
appetite and to grow
Sustainable growth
3
4. Protecting and Growing Shareholder Value
Changing Environment: Competitive Advantages:
• Evolving customer needs • Unique insight
• Unprecedented • Broad capabilities to take
liquidity and manage risk intentionally
• New global realities • Comprehensive and
integrated management of
risk and reward
Our processes identify opportunities and risks that
drive changes to our business models.
4
5. Positioning our Economic Capital for Growth
2000 2006
Capital Net Income Capital Net Income
100% 100% 100% 100%
GCSBB 29% • Capital well aligned to
48% 50% 53% earnings and clients
• Supports consumer growth
initiatives
GCIB 50% • Focused reduction in GCIB
credit capital
36% 33%
32%
• Created more capital
GWIM 6% velocity in GCIB
8% 8%
Other 11%
15%
8% 9%
4%
5
6. Consumer Health
Household Balance Sheet
(as of September)
60,000
40,000
$B
20,000
0
(20,000)
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
Real Estate Assets Financial Assets Liabilities Net Worth
• Despite consumers’ increasing levels of financial obligations relative to income,
consumer aggregate net worth is at its highest levels and growing at a healthy pace
• However, stress within the sub prime market may have an adverse impact on some
local markets and specific communities
6 Source: Federal Reserve, Flow of Funds
7. Our Managed Consumer Portfolio is a Balanced Mix of
Traditional Products
Total Consumer Average Balances
$553.6B
Other Consumer
DFS 6% 3%
Consumer Finance
4%
Foreign Consumer
Card 5% Residential Mortgage
42%
US Consumer Card
25%
Home Equity
15%
• 8% YOY Growth
• 57% Consumer Real Estate
• 30% Consumer Card
7
8. Consumer Real Estate Asset Quality
1st Mortgage- Originated and Serviced
Avg. FICO 729
Avg. LTV 57%
31%
1st Mortgage- Serviced By Others
42%
Avg. FICO 750
Avg. LTV 56%
27%
Home Equity
Avg. FICO 724
Avg. LTV 63%
Asset Quality of the
Consumer Real Estate portfolio is strong.
8 Note: All FICOs and LTVs current or refreshed
9. Proprietary Insight as a Competitive Advantage
Relationship Results in Improved Credit Performance
Credit Performance of Total Market
Credit Performance, both “On-Us” & “Off-Us”, of a
BAC Customer with a Large Deposit Balance
Delinquency Rate
Credit Performance, “On-Us” only, of a BAC
customer with a Large Deposit Balance
At the same credit score,
relationship customers
outperform the market
Low Credit Score Credit Quality High Credit Score
• We have been increasing our use of analytics to understand
customer behavior
• This knowledge allows us to optimize our business model for the
customer segments that we target
9
10. Commercial Health
Current vs. Projected S&P Earnings Growth
• Corporate profits continue to grow
Quarterly S&P 500 Earnings Growth
Projected Growth Start of Quarter Actual (blended) Growth
30%
• Credit statistic trends remain First Call
Analyst
25%
favorable Estimates
20%
• Market liquidity is strong 15%
10%
5%
E
E
03
04
05
03
04
05
06
06
07
2Q
2Q
4Q
4Q
4Q
2Q
2Q
4Q
2Q
Source: Thompson Financial
High Grade Leverage and Coverage High Yield Leverage and Coverage
Median Ratio LTM EBITDA to LTM Interest Expense
Median Ratio LTM EBITDA to LTM Interest Expense
Median Net Leverage Median Coverage
Med Net Debt Leverage Med Coverage
Median Ratio of Net Debt to LTM EBITDA
Median Ratio of Net Debt to LTM EBITDA
8.0
2.7 4.3 4.1
7.5 4.1 3.9
2.5
7.0 3.9 3.7
2.3 3.7
6.5 3.5
3.5
2.1 3.3
6.0 3.3
1.9 3.1
5.5 3.1
2.9 2.9
1.7 5.0
2.7 2.7
1.5 4.5
2.5 2.5
2
4
6
8
6
0
0
2
4
96
04
06
95
97
98
99
00
01
02
03
05
-9
-9
-9
-9
-0
-9
-0
-0
-0
ar
ar
ar
ar
ar
ar
ar
ar
ar
1Q
1Q
1Q
1Q
1Q
1Q
1Q
1Q
1Q
1Q
1Q
1Q
M
M
M
M
M
M
M
M
M
Source: Banc of America Securities, LLC and Factset. Source: Banc of America Securities, LLC and Factset.
10
11. Managing Commercial Credit Risk
Our Strengths Advantages in Managing Risk
• Breadth of client access • Industry insights and focus
• Capital markets and • Market knowledge enabling
distribution an originate to distribute
strategy
• Integrated risk structure • Managing risk globally across
products and client segments
11
12. Commercial Credit Risk Profile
Commitments as of 12/31/06 Average Funded Commitments 4Q06
$618.0B $238.5B
Business Capital
2% DFS Business Capital Aviation
Aviation
4%
DFS Corporate Banking
2% 1%
Business Banking 0% Corporate Banking 3% 23%
4% 44% Business Banking
7% GIB
Leasing GMG
5% Leasing 18% 5%
CREB GIB
11% 33% 9%
CB Regions CREB
GMG Other
22% 14%
11% 17%
Other CB Regions
Commercial Banking 10% 22% Other
46% 17%
Commercial Banking
Other 60%
10%
• Rebalanced the portfolio
• Improved risk evaluation and monitoring tools
12
13. Commercial Credit Industry Profile
Commitments by Industry
12/31/06
Technology*
3% Other* Real Estate
7% 12%
Energy*
6%
Media & Telecom* Diversified financials
4% 11%
Food Products*
4%
Commercial services Retailing &
and supplies Consumer Products*
4% 9%
Materials Government & public
5% education
6%
Individuals and trusts
5% Capital Goods
Healthcare 6%
Consumer services
equipment and
5% Banks & insurance*
services
8%
5%
• Effective management of industry and single name concentrations
• Increased distribution risk in high-return leveraged finance activities
• Improved revenue mix and more efficient use of capital
13
14. Credit Comments
($MM) Average Expected
Actual Losses
Balances Average
CONSUMER (Managed) 4Q06 2005 2006 Over a cycle
Consumer Real Estate $316,058 0.03% 0.03% <10 bps
Consumer Credit Card* 165,991 5.54% 3.90% 500-550 bps
Other Consumer 71,524 2.30% 1.45%
Total Consumer 553,573
*Average Annual RAM: 7.5 - 8.5%
COMMERCIAL (Held)
Corporate Banking 51,261 (0.27%) (0.14%) 30-60 bps
Commercial Banking 143,293 0.20% 0.04% 30-60 bps
Other Commercial 43,900 0.72% 0.72%
Total Commercial $238,454
14
15. Managing Market Risk
VaR
• Directionality New Products
• Volatility • Risk forums
• Correlation • New Products
• Concentration Committee
Market
Risk
Stress Analysis Counter Party Risk
• Historical simulation • Ongoing due diligence
• Event specific scenarios • Market focused
• Hypothetical scenario • Collateral requirements
• Business specific Proactive Risk Mitigation
stress • Market focused
• Structuring risk
• Hedging
• Integrated Risk Management (Market, Credit, Structuring) aligned with
each business line
• Risk limits set to encourage velocity and distribution
15
16. Improved Revenue Generation From Market
Based Activities
Histogram of Daily Market Related Trading Revenue
90
2005 2006
80
70
Number of Days
60
50
40
30
20
10
0
less than -20 to - -10 to 0 0 to 10 10 to 20 20 to 30 30 to 40 40 to 50 greater
-20 10 than 50
Revenue ($MM)
• 96% of days with positive revenue in 2006 vs. 86% in 2005
• No trading days in 2006 with losses greater than $10mm
• VaR maintained at ~$41mm
16
17. Managing Operational Risk
• Information security
• Business continuity
• Vendor management
• Talent
17
18. Protecting and Growing Shareholder Equity
Changing Environment: Competitive Advantages:
• Evolving customer needs, • Unique insight
intense competition
• Broader capabilities, more
• Unprecedented liquidity, choices to take and manage
convergence of risks risk more strategically
• Manage all risks that impact
• New global realities our business
18