At Bank of America, we take seriously the position we hold in helping serve as an engine of growth and success for millions of individuals, households, families, and businesses of every size.

One way we demonstrate that is through our commitment to upholding the highest standards of corporate governance and ethical conduct. That includes our efforts to always do business the right way for our customers, clients, shareholders, and in the communities we serve; to provide leaders with the knowledge and tools they need to make the best decisions; and to help our associates clearly understand the values and ethical standards that guide our company every day.

Our board of directors provides oversight of the company's affairs and constantly works to improve and build on the company's strong corporate governance practices.

Our management processes, structures and policies help ensure compliance with laws and regulations and provide clear lines of sight for decision-making and accountability. These disciplines, though, together represent just one dimension of governance. The other dimension is our corporate culture. Our corporate culture must be championed by leaders and sustained by every associate.

One way we build and protect our culture is by aggressively promoting our company's Core Values to associates, as well as our Code of Conduct. We also know that actions speak louder than words. We foster a culture of openness, in which healthy debate is encouraged and associates are expected and required to report improper activity. We do not hesitate to separate ourselves from individuals who violate our values or ethical standards, regardless of performance or potential.

As we work to serve our customers, clients, and communities, and generate returns for our shareholders, we understand that success is only meaningful when it is achieved the right way, with the right values. Our commitment to this principle is the key to sustaining public trust and confidence in our company, and the key to our long-term success.

Brian T. Moynihan
Chair of the Board and Chief Executive Officer
Bank of America Corporation