BANK OF AMERICA CORPORATION - New Accounting Ref Date.

PR Newswire UK Disclose, February, 2006

 
Bank of America to Restate Financial Statements for Accounting Under SFAS 133 
 
    CHARLOTTE, N.C., Feb. 22 -- Bank of America today said it will restate 
financial statements going back to 2002 in order to adjust the accounting under 
Statement of Financial Accounting Standards (SFAS) 133 for certain derivative 
transactions used in its hedging strategies to manage interest rate risk and 
foreign exchange exposure. 
    (Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b) 
    The restatement will cover the full year 2002, including the opening 
balance sheet, as well as the quarterly and annual periods in 2003, 2004, and 
2005. The cumulative impact on net income, including the period prior to 2002, 
was an increase of $345 million. The impacts on net income and...

            
        
    
    	    
                
                
	

		

					 
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