Supplemental Information

Exhibit 99.1

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Supplemental Information

Third Quarter 2008

This information is preliminary and based on company data available at the time of the presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, correct or update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at Bank of America’s website (www.bankofamerica.com). Bank of America’s future financial performance is subject to risks and uncertainties as described in its SEC filings.

Bank of America Corporation and Subsidiaries


Table of Contents		Page

Consolidated Financial Highlights		2
Supplemental Financial Data		3
Consolidated Statement of Income		4
Consolidated Balance Sheet		5
Capital Management		6
Core Net Interest Income - Managed Basis		7
Quarterly Average Balances and Interest Rates		8
Quarterly Average Balances and Interest Rates - Isolating Hedge Income/Expense		9
Year-to-Date Average Balances and Interest Rates		10
Year-to-Date Average Balances and Interest Rates - Isolating Hedge Income/Expense		11
Business Segment View Graphs		12
Global Consumer and Small Business Banking
Total Segment Results		13
Quarter-to-Date Business Results		14
Year-to-Date Business Results		15
Key Indicators		16
E-commerce & BankofAmerica.com		17
Credit Card Data		18
Quarter-to-Date Mass Market Small Business Banking: Relationship View		19
Year-to-Date Mass Market Small Business Banking: Relationship View		20
Global Corporate and Investment Banking
Total Segment Results		21
Quarter-to-Date Business Results		22
Year-to-Date Business Results		23
Quarter-to-Date Customer Relationship View		24
Year-to-Date Customer Relationship View		25
Business Lending Key Indicators		26
Capital Markets and Advisory Services Key Indicators		27
Banc of America Securities U.S. Market Share and Product Ranking Graph		28
Special Purpose Entities Liquidity Exposure		29
Super Senior Collateralized Debt Obligation Exposure		30
Subprime Super Senior Collateralized Debt Obligation Carrying Values		31
Global Wealth and Investment Management
Total Segment Results		32
Quarter-to-Date Business Results		33
Year-to-Date Business Results		34
Key Indicators		35
All Other
Total Segment Results		36
Outstanding Loans and Leases		37
Quarterly Average Loans and Leases by Business Segment		38
Commercial Credit Exposure by Industry		39
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating		40
Selected Emerging Markets		41
Nonperforming Assets		42
Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios		43
Year-to-Date Net Charge-offs/Losses and Net Charge-off/Loss Ratios		44
Allocation of the Allowance for Credit Losses by Product Type		45

Exhibit A: Non - GAAP Reconciliations		46


		1

Bank of America Corporation and Subsidiaries

Consolidated Financial Highlights

(Dollars in millions, except per share information; shares in thousands)


	Nine Months Ended September 30						Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007				Third Quarter 2007
	2008			2007			Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007				Third Quarter 2007
Income statement
Net interest income	$	32,254		$	25,276		$	11,642		$	10,621		$	9,991		$	9,165			$	8,617
Noninterest income		24,848			28,753			7,979			9,789			7,080			3,639				7,480
Total revenue, net of interest expense		57,102			54,029			19,621			20,410			17,071			12,804				16,097
Provision for credit losses		18,290			5,075			6,450			5,830			6,010			3,310				2,030
Noninterest expense, before merger and restructuring charges		29,953			26,845			11,413			9,447			9,093			10,269				8,627
Merger and restructuring charges		629			270			247			212			170			140				84
Income tax expense (benefit)		2,433			7,125			334			1,511			588			(1,183	)			1,658
Net income		5,797			14,714			1,177			3,410			1,210			268				3,698
Diluted earnings per common share		1.10			3.25			0.15			0.72			0.23			0.05				0.82
Average diluted common shares issued and outstanding		4,493,506			4,483,465			4,563,508			4,457,193			4,461,201			4,470,108				4,475,917
Dividends paid per common share	$	1.92		$	1.76		$	0.64		$	0.64		$	0.64		$	0.64			$	0.64

Performance ratios
Return on average assets		0.43	%		1.27	%		0.25	%		0.78	%		0.28	%		0.06		%		0.93	%
Return on average common shareholders’ equity		4.68			14.88			1.97			9.25			2.90			0.60				11.02
At period end
Book value per share of common stock	$	30.01		$	30.45		$	30.01		$	31.11		$	31.22		$	32.09			$	30.45
Tangible book value per share of common stock ⁽¹⁾		12.08			15.25			12.08			13.65			13.73			14.62				15.25
Market price per share of common stock:
Closing price	$	35.00		$	50.27		$	35.00		$	23.87		$	37.91		$	41.26			$	50.27
High closing price for the period		45.03			54.05			37.48			40.86			45.03			52.71				51.87
Low closing price for the period		18.52			47.00			18.52			23.87			35.31			41.10				47.00
Market capitalization		159,672			223,041			159,672			106,292			168,806			183,107				223,041

Number of banking centers - domestic		6,139			5,748			6,139			6,131			6,148			6,149				5,748
Number of branded ATMs - domestic		18,584			17,231			18,584			18,531			18,491			18,753				17,231
Full-time equivalent employees		247,024			198,000			247,024			206,587			209,096			209,718				198,000

(1)

Tangible book value per share of common stock is a non-GAAP measure. For a corresponding reconciliation of common tangible shareholders’ equity to a GAAP financial measure, see Supplemental Financial Data on page 3. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the Corporation.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data


	Nine Months Ended September 30								Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
	2008				2007				Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
Net interest income	$	33,148			$	26,375			$	11,920			$	10,937			$	10,291			$	9,815			$	8,992
Total revenue, net of interest expense		57,996				55,128				19,899				20,726				17,371				13,454				16,472
Net interest yield		2.86		%		2.60		%		2.93		%		2.92		%		2.73		%		2.61		%		2.61		%
Efficiency ratio		52.73				49.19				58.60				46.60				53.32				77.36				52.89
Reconciliation to GAAP financial measures Supplemental financial data presented on an operating basis is a basis of presentation not defined by accounting principles generally accepted in the United States (GAAP) that excludes merger and restructuring charges. We believe that the exclusion of merger and restructuring charges, which represent events outside our normal operations, provides a meaningful period-to-period comparison and is more reflective of normalized operations. Return on average common shareholders’ equity and return on average tangible shareholders’ equity utilize non-GAAP allocation methodologies. Return on average common shareholders’ equity measures the earnings contribution of a unit as a percentage of the shareholders’ equity allocated to that unit. Return on average tangible shareholders’ equity measures the earnings contribution of the Corporation as a percentage of shareholders’ equity reduced by goodwill. These measures are used to evaluate our use of equity (i.e., capital) at the individual unit level and are integral components in the analytics for resource allocation. The efficiency ratio measures the costs expended to generate a dollar of revenue. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently. See the tables below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the three months ended September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, and the nine months ended September 30, 2008 and 2007. Reconciliation of net income to operating earnings
	Nine Months Ended September 30								Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
	Nine Months Ended September 30
	2008				2007
Net income	$	5,797			$	14,714			$	1,177			$	3,410			$	1,210			$	268			$	3,698
Merger and restructuring charges		629				270				247				212				170				140				84
Related income tax benefit		(205	)			(100	)			(64	)			(78	)			(63	)			(52	)			(31	)

Operating earnings	$	6,221			$	14,884			$	1,360			$	3,544			$	1,317			$	356			$	3,751


Reconciliation of ending common shareholders’ equity to ending common tangible shareholders’ equity

Ending common shareholders’ equity	$	136,888			$	135,109			$	136,888			$	138,540			$	139,003			$	142,394			$	135,109
Ending goodwill		(81,756	)			(67,433	)			(81,756	)			(77,760	)			(77,872	)			(77,530	)			(67,433	)

Ending common tangible shareholders’ equity	$	55,132			$	67,676			$	55,132			$	60,780			$	61,131			$	64,864			$	67,676


Reconciliation of average shareholders’ equity to average tangible shareholders’ equity

Average shareholders’ equity	$	160,890			$	133,878			$	166,454			$	161,428			$	154,728			$	144,924			$	134,487
Average goodwill		(79,150	)			(66,309	)			(81,977	)			(77,815	)			(77,628	)			(78,308	)			(67,499	)

Average tangible shareholders’ equity	$	81,740			$	67,569			$	84,477			$	83,613			$	77,100			$	66,616			$	66,988


Operating basis

Return on average assets		0.46		%		1.28		%		0.28		%		0.81		%		0.30		%		0.08		%		0.94		%
Return on average common shareholders’ equity		5.08				15.06				2.48				9.63				3.20				0.85				11.18
Return on average tangible shareholders’ equity		10.17				29.45				6.40				17.05				6.87				2.12				22.21
Efficiency ratio ⁽¹⁾		51.65				48.70				57.36				45.58				52.35				76.32				52.38

(1)

Fully taxable-equivalent basis

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Consolidated Statement of Income

(Dollars in millions, except per share information; shares in thousands)


	Nine Months Ended September 30					Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
	2008			2007		Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
Interest income
Interest and fees on loans and leases	$	41,797		$	40,318	$	14,261		$	13,121		$	14,415		$	15,363		$	14,111
Interest on debt securities		9,295			7,046		3,621			2,900			2,774			2,738			2,334
Federal funds sold and securities purchased under agreements to resell		2,920			5,974		912			800			1,208			1,748			1,839
Trading account assets		6,937			7,059		2,344			2,229			2,364			2,358			2,519
Other interest income		3,133			3,428		1,058			977			1,098			1,272			1,230

Total interest income		64,082			63,825		22,196			20,027			21,859			23,479			22,033

Interest expense
Deposits		11,954			12,840		3,846			3,520			4,588			5,253			4,545
Short-term borrowings		10,452			16,369		3,223			3,087			4,142			5,598			5,519
Trading account liabilities		2,250			2,619		661			749			840			825			906
Long-term debt		7,172			6,721		2,824			2,050			2,298			2,638			2,446

Total interest expense		31,828			38,549		10,554			9,406			11,868			14,314			13,416

Net interest income		32,254			25,276		11,642			10,621			9,991			9,165			8,617

Noninterest income
Card income		10,212			10,486		3,122			3,451			3,639			3,591			3,595
Service charges		7,757			6,493		2,722			2,638			2,397			2,415			2,221
Investment and brokerage services		3,900			3,720		1,238			1,322			1,340			1,427			1,378
Investment banking income		1,645			1,801		474			695			476			544			389
Equity investment income (loss)		1,330			3,747		(316	)		592			1,054			317			904
Trading account profits (losses)		(1,810	)		491		(384	)		357			(1,783	)		(5,380	)		(1,388	)
Mortgage banking income		2,564			516		1,674			439			451			386			155
Insurance premiums		1,092			548		678			217			197			213			235
Gains on sales of debt securities		362			71		10			127			225			109			7
Other income (loss)		(2,204	)		880		(1,239	)		(49	)		(916	)		17			(16	)

Total noninterest income		24,848			28,753		7,979			9,789			7,080			3,639			7,480

Total revenue, net of interest expense		57,102			54,029		19,621			20,410			17,071			12,804			16,097

Provision for credit losses		18,290			5,075		6,450			5,830			6,010			3,310			2,030

Noninterest expense
Personnel		14,344			13,931		5,198			4,420			4,726			4,822			4,169
Occupancy		2,623			2,211		926			848			849			827			754
Equipment		1,208			1,018		440			372			396			373			336
Marketing		1,813			1,644		605			571			637			712			552
Professional fees		1,071			770		424			362			285			404			258
Amortization of intangibles		1,357			1,209		464			447			446			467			429
Data processing		1,905			1,372		755			587			563			590			463
Telecommunications		814			750		288			266			260			263			255
Other general operating		4,818			3,940		2,313			1,574			931			1,811			1,411
Merger and restructuring charges		629			270		247			212			170			140			84

Total noninterest expense		30,582			27,115		11,660			9,659			9,263			10,409			8,711

Income (loss) before income taxes		8,230			21,839		1,511			4,921			1,798			(915	)		5,356
Income tax expense (benefit)		2,433			7,125		334			1,511			588			(1,183	)		1,658

Net income	$	5,797		$	14,714	$	1,177		$	3,410		$	1,210		$	268		$	3,698

Preferred stock dividends		849			129		473			186			190			53			43

Net income available to common shareholders	$	4,948		$	14,585	$	704		$	3,224		$	1,020		$	215		$	3,655


Per common share information
Earnings	$	1.11		$	3.30	$	0.15		$	0.73		$	0.23		$	0.05		$	0.83
Diluted earnings		1.10			3.25		0.15			0.72			0.23			0.05			0.82
Dividends paid		1.92			1.76		0.64			0.64			0.64			0.64			0.64

Average common shares issued and outstanding		4,469,517			4,424,269		4,543,963			4,435,719			4,427,823			4,421,554			4,420,616

Average diluted common shares issued and outstanding		4,493,506			4,483,465		4,563,508			4,457,193			4,461,201			4,470,108			4,475,917

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Consolidated Balance Sheet

(Dollars in millions)


	September 30 2008		June 30 2008		September 30 2007
Assets
Cash and cash equivalents	$ 39,341		$ 39,127		$ 34,956
Time deposits placed and other short-term investments	11,709		7,649		8,829
Federal funds sold and securities purchased under agreements to resell	87,038		107,070		135,150
Trading account assets	174,859		167,837		179,365
Derivative assets	45,792		42,039		30,843
Debt securities	258,677		249,859		177,296
Loans and leases, net of allowance:
Loans and leases	942,676		870,464		793,537
Allowance for loan and lease losses	(20,346	)	(17,130	)	(9,535	)
Total loans and leases, net of allowance	922,330		853,334		784,002
Premises and equipment, net	13,000		11,627		9,762
Mortgage servicing rights (includes $20,811, $4,250 and $3,179 measured at fair value)	21,131		4,577		3,417
Goodwill	81,756		77,760		67,433
Intangible assets	9,167		9,603		9,635
Loans held-for-sale	27,414		23,630		30,672
Other assets	138,963		122,763		107,403
Total assets	$1,831,177		$1,716,875		$1,578,763

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$ 201,025		$ 199,587		$ 165,343
Interest-bearing	577,503		497,631		434,728
Deposits in foreign offices:
Noninterest-bearing	3,524		3,432		3,950
Interest-bearing	91,999		84,114		95,201
Total deposits	874,051		784,764		699,222
Federal funds purchased and securities sold under agreements to repurchase	225,729		238,123		199,293
Trading account liabilities	68,229		70,806		87,155
Derivative liabilities	26,466		21,095		19,012
Commercial paper and other short-term borrowings	145,812		177,753		201,155
Accrued expenses and other liabilities (includes $427, $507 and $392 of reserve for unfunded lending commitments)	72,141		55,038		48,932
Long-term debt	257,710		206,605		185,484
Total liabilities	1,670,138		1,554,184		1,440,253
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 7,602,067, 7,602,067 and 143,739 shares	24,151		24,151		3,401
Common stock and additional paid-in capital, $0.01 par value; authorized - 7,500,000,000 shares; issued and outstanding - 4,562,054,554, 4,452,947,217 and 4,436,855,341 shares	65,361		61,109		60,276
Retained earnings	77,695		79,920		84,027
Accumulated other comprehensive income (loss)	(5,647	)	(1,864	)	(8,615	)
Other	(521	)	(625	)	(579	)
Total shareholders’ equity	161,039		162,691		138,510
Total liabilities and shareholders’ equity	$1,831,177		$1,716,875		$1,578,763

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Capital Management

(Dollars in millions)


	Third Quarter 2008 ⁽¹⁾			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
Risk-based capital:
Tier 1 capital	$	100,248		$	101,439		$	93,899		$	83,372		$	94,108
Total capital		153,327			154,983			146,531			133,720			135,786
Risk-weighted assets		1,328,084			1,230,307			1,250,942			1,212,905			1,145,069
Tier 1 capital ratio		7.55	%		8.25	%		7.51	%		6.87	%		8.22	%
Total capital ratio		11.54			12.60			11.71			11.02			11.86
Tangible equity ratio ⁽²⁾		4.03			4.62			4.16			3.62			4.09
Tier 1 leverage ratio		5.50			6.07			5.59			5.04			6.20

(1)

Preliminary data on risk-based capital

(2)

Tangible equity ratio equals shareholders’ equity less goodwill and intangible assets divided by total assets less goodwill and intangible assets.

Share Repurchase Program

No common shares were repurchased in the third quarter of 2008.

75.0 million shares remain outstanding under the 2008 authorized program.

109.1 million shares were issued in the third quarter of 2008, of which 106.8 million shares were issued in the Countrywide acquisition.

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*	Preliminary data on risk-based capital

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Core Net Interest Income - Managed Basis

(Dollars in millions)


	Nine Months Ended September 30								Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
	2008				2007				Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
Net interest income ⁽¹⁾
As reported	$	33,148			$	26,375			$	11,920			$	10,937			$	10,291			$	9,815			$	8,992
Impact of market-based net interest income ⁽²⁾		(4,125	)			(1,908	)			(1,448	)			(1,369	)			(1,308	)			(810	)			(789	)

Core net interest income		29,023				24,467				10,472				9,568				8,983				9,005				8,203
Impact of securitizations ⁽³⁾		6,654				5,820				2,310				2,254				2,090				2,021				2,009

Core net interest income - managed basis	$	35,677			$	30,287			$	12,782			$	11,822			$	11,073			$	11,026			$	10,212


Average earning assets
As reported	$	1,544,617			$	1,352,177			$	1,622,466			$	1,500,234			$	1,510,295			$	1,502,998			$	1,375,795
Impact of market-based earning assets ⁽²⁾		(385,517	)			(414,363	)			(377,630	)			(375,274	)			(403,733	)			(407,315	)			(407,066	)

Core average earning assets		1,159,100				937,814				1,244,836				1,124,960				1,106,562				1,095,683				968,729
Impact of securitizations		102,481				103,028				101,743				103,131				102,577				104,385				104,181

Core average earning assets - managed basis	$	1,261,581			$	1,040,842			$	1,346,579			$	1,228,091			$	1,209,139			$	1,200,068			$	1,072,910


Net interest yield contribution ^{(1, 4)}
As reported		2.86		%		2.60		%		2.93		%		2.92		%		2.73		%		2.61		%		2.61		%
Impact of market-based activities ⁽²⁾		0.48				0.88				0.43				0.49				0.52				0.67				0.77

Core net interest yield on earning assets		3.34				3.48				3.36				3.41				3.25				3.28				3.38
Impact of securitizations		0.43				0.40				0.43				0.45				0.42				0.38				0.42

Core net interest yield on earning assets - managed basis		3.77		%		3.88		%		3.79		%		3.86		%		3.67		%		3.66		%		3.80		%

(1)

Fully taxable-equivalent basis

(2)

Represents the impact of market-based amounts included in the Capital Markets and Advisory Services business within Global Corporate and Investment Banking. For the nine months ended September 30, 2008 and 2007, the impact of market-based net interest income excludes $75 million and $44 million, and for the three months ended September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, respectively, excludes $23 million, $25 million, $27 million, $26 million and $22 million of net interest income on loans for which the fair value option has been elected and is not considered market-based income.

(3)

Represents the impact of securitizations utilizing actual bond costs. This is different from the segment view which utilizes funds transfer pricing methodologies.

(4)

Calculated on an annualized basis.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis

(Dollars in millions)


	Third Quarter 2008						Second Quarter 2008						Third Quarter 2007
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	11,361	$	101	3.54	%	$	10,310	$	87	3.40	%	$	11,879	$	148	4.92	%
Federal funds sold and securities purchased under agreements to resell		136,322		912	2.67			126,169		800	2.54			139,259		1,839	5.27
Trading account assets		191,757		2,390	4.98			184,547		2,282	4.95			194,661		2,604	5.33
Debt securities ⁽¹⁾		266,013		3,672	5.52			235,369		2,963	5.04			174,568		2,380	5.45
Loans and leases ⁽²⁾:
Residential mortgage		260,748		3,712	5.69			256,164		3,541	5.54			274,385		3,928	5.72
Home equity		151,142		2,124	5.59			120,265		1,627	5.44			98,611		1,884	7.58
Discontinued real estate		22,031		399	7.25			—		—	—			—		—	—
Credit card - domestic		63,414		1,682	10.55			61,655		1,603	10.45			57,491		1,780	12.29
Credit card - foreign		17,075		535	12.47			16,566		512	12.43			11,995		371	12.25
Direct/Indirect consumer⁽³⁾		85,392		1,790	8.34			82,593		1,731	8.43			72,978		1,600	8.70
Other consumer ⁽⁴⁾		3,723		80	8.78			3,953		84	8.36			4,322		96	8.90
Total consumer		603,525		10,322	6.82			541,196		9,098	6.75			519,782		9,659	7.39
Commercial - domestic		224,117		2,852	5.06			219,537		2,762	5.06			176,554		3,207	7.21
Commercial real estate ⁽⁵⁾		63,220		727	4.57			62,810		737	4.72			38,977		733	7.47
Commercial lease financing		22,585		53	0.93			22,276		243	4.37			20,044		246	4.91
Commercial - foreign		33,467		377	4.48			32,820		366	4.48			25,159		377	5.95
Total commercial		343,389		4,009	4.64			337,443		4,108	4.89			260,734		4,563	6.95
Total loans and leases		946,914		14,331	6.03			878,639		13,206	6.04			780,516		14,222	7.25
Other earning assets		70,099		1,068	6.07			65,200		1,005	6.19			74,912		1,215	6.46
Total earning assets ⁽⁶⁾		1,622,466		22,474	5.52			1,500,234		20,343	5.44			1,375,795		22,408	6.48
Cash and cash equivalents		36,030						33,799						31,356
Other assets, less allowance for loan and lease losses		247,195						220,580						173,414
Total assets	$	1,905,691					$	1,754,613					$	1,580,565

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	32,297	$	58	0.72	%	$	33,164	$	64	0.77	%	$	31,510	$	50	0.62	%
NOW and money market deposit accounts		278,520		973	1.39			258,104		856	1.33			215,078		1,104	2.04
Consumer CDs and IRAs		218,862		1,852	3.37			178,828		1,646	3.70			165,840		1,949	4.66
Negotiable CDs, public funds and other time deposits		36,039		291	3.21			24,216		195	3.25			17,392		227	5.20
Total domestic interest-bearing deposits		565,718		3,174	2.23			494,312		2,761	2.25			429,820		3,330	3.07
Foreign interest-bearing deposits:
Banks located in foreign countries		36,230		266	2.91			33,777		272	3.25			43,727		564	5.12
Governments and official institutions		11,847		72	2.43			11,789		77	2.62			17,206		218	5.03
Time, savings and other		48,209		334	2.76			55,403		410	2.97			41,868		433	4.09
Total foreign interest-bearing deposits		96,286		672	2.78			100,969		759	3.02			102,801		1,215	4.69
Total interest-bearing deposits		662,004		3,846	2.31			595,281		3,520	2.38			532,621		4,545	3.39
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		465,511		3,223	2.76			444,578		3,087	2.79			409,070		5,519	5.36
Trading account liabilities		77,271		661	3.40			70,546		749	4.27			86,118		906	4.17
Long-term debt		264,934		2,824	4.26			205,194		2,050	4.00			175,265		2,446	5.58
Total interest-bearing liabilities ⁽⁶⁾		1,469,720		10,554	2.86			1,315,599		9,406	2.87			1,203,074		13,416	4.43
Noninterest-bearing sources:
Noninterest-bearing deposits		195,841						190,721						169,860
Other liabilities		73,676						86,865						73,144
Shareholders’ equity		166,454						161,428						134,487
Total liabilities and shareholders’ equity	$	1,905,691					$	1,754,613					$	1,580,565
Net interest spread					2.66	%					2.57	%					2.05	%
Impact of noninterest-bearing sources					0.27						0.35						0.56
Net interest income/yield on earning assets			$	11,920	2.93	%			$	10,937	2.92	%			$	8,992	2.61	%

(1)

Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.

(2)

Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.

(3)

Includes foreign consumer loans of $2.6 billion and $3.0 billion in the third and second quarters of 2008, and $3.8 billion in the third quarter of 2007.

(4)

Includes consumer finance loans of $2.7 billion and $2.8 billion in the third and second quarters of 2008, and $3.2 billion in the third quarter of 2007; and other foreign consumer loans of $1.1 billion and $862 million in the third and second quarters of 2008, and $843 million in the third quarter of 2007.

(5)

Includes domestic commercial real estate loans of $62.2 billion and $61.6 billion in the third and second quarters of 2008, and $38.0 billion in the third quarter of 2007.

(6)

Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $12 million and $104 million in the third and second quarters of 2008, and $170 million in the third quarter of 2007. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $86 million and $37 million in the third and second quarters of 2008, and $226 million in the third quarter of 2007.

Certain

prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Hedge Income/Expense ⁽¹⁾

(Dollars in millions)


	Third Quarter 2008								Second Quarter 2008								Third Quarter 2007
	Average Balance		Interest Income/ Expense			Yield/ Rate			Average Balance		Interest Income/ Expense			Yield/ Rate			Average Balance		Interest Income/ Expense			Yield/ Rate
Earning assets
Time deposits placed and other short-term investments ⁽²⁾	$	11,361	$	105		3.68		%	$	10,310	$	91		3.56		%	$	11,879	$	152		5.06		%
Federal funds sold and securities purchased under agreements to resell⁽²⁾		136,322		948		2.78				126,169		867		2.75				139,259		1,936		5.54
Trading account assets		191,757		2,390		4.98				184,547		2,282		4.95				194,661		2,604		5.33
Debt securities ⁽²⁾		266,013		3,675		5.52				235,369		2,963		5.04				174,568		2,385		5.46
Loans and leases:
Residential mortgage		260,748		3,712		5.69				256,164		3,541		5.54				274,385		3,928		5.72
Home equity		151,142		2,124		5.59				120,265		1,627		5.44				98,611		1,884		7.58
Discontinued real estate		22,031		399		7.25				—		—		—				—		—		—
Credit card - domestic		63,414		1,682		10.55				61,655		1,603		10.45				57,491		1,780		12.29
Credit card - foreign		17,075		535		12.47				16,566		512		12.43				11,995		371		12.25
Direct/Indirect consumer		85,392		1,790		8.34				82,593		1,731		8.43				72,978		1,600		8.70
Other consumer		3,723		80		8.78				3,953		84		8.36				4,322		96		8.90
Total consumer		603,525		10,322		6.82				541,196		9,098		6.75				519,782		9,659		7.39
Commercial - domestic⁽²⁾		224,117		2,820		5.01				219,537		2,795		5.12				176,554		3,220		7.24
Commercial real estate		63,220		727		4.57				62,810		737		4.72				38,977		733		7.47
Commercial lease financing		22,585		53		0.93				22,276		243		4.37				20,044		246		4.91
Commercial - foreign ⁽²⁾		33,467		377		4.48				32,820		366		4.48				25,159		411		6.48
Total commercial		343,389		3,977		4.61				337,443		4,141		4.93				260,734		4,610		7.02
Total loans and leases		946,914		14,299		6.02				878,639		13,239		6.05				780,516		14,269		7.27
Other earning assets⁽²⁾		70,099		1,069		6.07				65,200		1,005		6.19				74,912		1,232		6.55
Total earning assets - excluding hedge impact		1,622,466		22,486		5.53				1,500,234		20,447		5.47				1,375,795		22,578		6.53
Net hedge income (expense) on assets				(12	)							(104	)							(170	)
Total earning assets - including hedge impact		1,622,466		22,474		5.52				1,500,234		20,343		5.44				1,375,795		22,408		6.48
Cash and cash equivalents		36,030								33,799								31,356
Other assets, less allowance for loan and lease losses		247,195								220,580								173,414
Total assets	$	1,905,691							$	1,754,613							$	1,580,565

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	32,297	$	58		0.72		%	$	33,164	$	64		0.77		%	$	31,510	$	50		0.62		%
NOW and money market deposit accounts⁽²⁾		278,520		973		1.39				258,104		851		1.33				215,078		1,099		2.03
Consumer CDs and IRAs⁽²⁾		218,862		1,765		3.21				178,828		1,535		3.45				165,840		1,797		4.30
Negotiable CDs, public funds and other time deposits⁽²⁾		36,039		288		3.18				24,216		193		3.21				17,392		225		5.15
Total domestic interest-bearing deposits		565,718		3,084		2.17				494,312		2,643		2.15				429,820		3,171		2.93
Foreign interest-bearing deposits:
Banks located in foreign countries⁽²⁾		36,230		279		3.07				33,777		272		3.25				43,727		566		5.14
Governments and official institutions		11,847		72		2.43				11,789		77		2.62				17,206		218		5.03
Time, savings and other		48,209		334		2.76				55,403		410		2.97				41,868		433		4.09
Total foreign interest-bearing deposits		96,286		685		2.84				100,969		759		3.02				102,801		1,217		4.70
Total interest-bearing deposits		662,004		3,769		2.27				595,281		3,402		2.30				532,621		4,388		3.27
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings ⁽²⁾		465,511		2,938		2.51				444,578		2,980		2.70				409,070		5,560		5.40
Trading account liabilities		77,271		661		3.40				70,546		749		4.27				86,118		906		4.17
Long-term debt⁽²⁾		264,934		3,100		4.68				205,194		2,238		4.36				175,265		2,336		5.33
Total interest-bearing liabilities - excluding hedge impact		1,469,720		10,468		2.84				1,315,599		9,369		2.86				1,203,074		13,190		4.36
Net hedge (income) expense on liabilities				86								37								226
Total interest-bearing liabilities - including hedge impact		1,469,720		10,554		2.86				1,315,599		9,406		2.87				1,203,074		13,416		4.43
Noninterest-bearing sources:
Noninterest-bearing deposits		195,841								190,721								169,860
Other liabilities		73,676								86,865								73,144
Shareholders’ equity		166,454								161,428								134,487
Total liabilities and shareholders’ equity	$	1,905,691							$	1,754,613							$	1,580,565
Net interest spread						2.69								2.61								2.17
Impact of noninterest-bearing sources						0.27								0.35								0.55
Net interest income/yield on earning assets - excluding hedge impact			$	12,018		2.96		%			$	11,078		2.96		%			$	9,388		2.72		%
Net impact of hedge income (expense)				(98	)	(0.03	)					(141	)	(0.04	)					(396	)	(0.11	)
Net interest income/yield on earning assets			$	11,920		2.93		%			$	10,937		2.92		%			$	8,992		2.61		%

(1)

This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk management derivatives is not material to the average balances presented above.

(2)

The following presents the impact of interest rate risk management derivatives on interest income and interest expense.

Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:


	Third Quarter 2008			Second Quarter 2008			Third Quarter 2007
Time deposits placed and other short-term investments	$	(4	)	$	(4	)	$	(4	)
Federal funds sold and securities purchased under agreements to resell		(36	)		(67	)		(97	)
Debt securities		(3	)		—			(5	)
Commercial - domestic		32			(33	)		(13	)
Commercial - foreign		—			—			(34	)
Other earning assets		(1	)		—			(17	)

Net hedge income (expense) on assets	$	(12	)	$	(104	)	$	(170	)


Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

NOW and money market deposit accounts	$	—		$	5		$	5
Consumer CDs and IRAs		87			111			152
Negotiable CDs, public funds and other time deposits		3			2			2
Banks located in foreign countries		(13	)		—			(2	)
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		285			107			(41	)
Long-term debt		(276	)		(188	)		110

Net hedge (income) expense on liabilities	$	86		$	37		$	226

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis

(Dollars in millions)


	Nine Months Ended September 30
	2008						2007
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	10,758	$	282	3.50	%	$	14,059	$	505	4.80	%
Federal funds sold and securities purchased under agreements to resell		135,846		2,920	2.87			157,139		5,974	5.07
Trading account assets		189,579		7,089	4.99			186,137		7,325	5.25
Debt securities ⁽¹⁾		240,347		9,470	5.25			179,589		7,225	5.37
Loans and leases ⁽²⁾:
Residential mortgage		262,478		11,090	5.63			260,469		11,140	5.70
Home equity		129,402		5,623	5.80			94,179		5,342	7.58
Discontinued real estate		7,397		399	7.25			—		—	—
Credit card - domestic		62,784		5,059	10.76			57,148		5,444	12.74
Credit card - foreign		16,297		1,521	12.47			11,694		1,038	11.86
Direct/Indirect consumer⁽³⁾		82,242		5,220	8.48			68,281		4,344	8.51
Other consumer ⁽⁴⁾		3,908		251	8.58			4,614		318	9.21

Total consumer		564,508		29,163	6.90			496,385		27,626	7.43

Commercial - domestic		218,702		8,812	5.38			168,948		9,180	7.26
Commercial real estate ⁽⁵⁾		62,746		2,351	5.00			37,305		2,092	7.50
Commercial lease financing		22,364		557	3.32			19,828		638	4.29
Commercial - foreign		32,254		1,130	4.68			22,696		1,026	6.05

Total commercial		336,066		12,850	5.11			248,777		12,936	6.95

Total loans and leases		900,574		42,013	6.23			745,162		40,562	7.27

Other earning assets		67,513		3,202	6.33			70,091		3,333	6.35

Total earning assets ⁽⁶⁾		1,544,617		64,976	5.61			1,352,177		64,924	6.41

Cash and cash equivalents		34,598						32,881
Other assets, less allowance for loan and lease losses		229,550						169,702

Total assets	$	1,808,765					$	1,554,760

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	32,419	$	172	0.71	%	$	32,436	$	138	0.57	%
NOW and money market deposit accounts		261,918		2,968	1.51			213,230		3,027	1.90
Consumer CDs and IRAs		195,318		5,569	3.81			162,372		5,638	4.64
Negotiable CDs, public funds and other time deposits		30,838		806	3.49			15,690		554	4.72

Total domestic interest-bearing deposits		520,493		9,515	2.44			423,728		9,357	2.95

Foreign interest-bearing deposits:
Banks located in foreign countries		36,401		938	3.44			42,025		1,617	5.14
Governments and official institutions		12,758		281	2.94			16,529		620	5.01
Time, savings and other		52,211		1,220	3.12			40,587		1,246	4.10

Total foreign interest-bearing deposits		101,370		2,439	3.21			99,141		3,483	4.70

Total interest-bearing deposits		621,863		11,954	2.57			522,869		12,840	3.28

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		454,355		10,452	3.07			414,126		16,369	5.28
Trading account liabilities		76,752		2,250	3.92			83,132		2,619	4.21
Long-term debt		223,017		7,172	4.29			160,895		6,721	5.57

Total interest-bearing liabilities ⁽⁶⁾		1,375,987		31,828	3.09			1,181,022		38,549	4.36

Noninterest-bearing sources:
Noninterest-bearing deposits		188,800						172,596
Other liabilities		83,088						67,264
Shareholders’ equity		160,890						133,878

Total liabilities and shareholders’ equity	$	1,808,765					$	1,554,760

Net interest spread					2.52	%					2.05	%
Impact of noninterest-bearing sources					0.34						0.55

Net interest income/yield on earning assets			$	33,148	2.86	%			$	26,375	2.60	%

(1)

Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.

(2)

Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.

(3)

Includes foreign consumer loans of $3.0 billion and $3.9 billion for the nine months ended September 30, 2008 and 2007.

(4)

Includes consumer finance loans of $2.8 billion and $3.2 billion, and other foreign consumer loans of $947 million and $1.2 billion for the nine months ended September 30, 2008 and 2007.

(5)

Includes domestic commercial real estate loans of $61.6 billion and $36.6 billion for the nine months ended September 30, 2008 and 2007.

(6)

Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $219 million and $408 million for the nine months ended September 30, 2008 and 2007. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $172 million and $612 million for the nine months ended September 30, 2008 and 2007.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Hedge Income/Expense ⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30
	2008								2007
	Average Balance		Interest Income/ Expense			Yield/ Rate			Average Balance		Interest Income/ Expense			Yield/ Rate
Earning assets
Time deposits placed and other short-term investments ⁽²⁾	$	10,758	$	294		3.65		%	$	14,059	$	546		5.19		%
Federal funds sold and securities purchased under agreements to resell⁽²⁾		135,846		3,093		3.04				157,139		6,277		5.33
Trading account assets		189,579		7,089		4.99				186,137		7,325		5.25
Debt securities ⁽²⁾		240,347		9,474		5.26				179,589		7,241		5.38
Loans and leases:
Residential mortgage		262,478		11,090		5.63				260,469		11,140		5.70
Home equity		129,402		5,623		5.80				94,179		5,342		7.58
Discontinued real estate		7,397		399		7.25				—		—		—
Credit card - domestic		62,784		5,059		10.76				57,148		5,444		12.74
Credit card - foreign		16,297		1,521		12.47				11,694		1,038		11.86
Direct/Indirect consumer		82,242		5,220		8.48				68,281		4,344		8.51
Other consumer		3,908		251		8.58				4,614		318		9.21
Total consumer		564,508		29,163		6.90				496,385		27,626		7.43
Commercial - domestic⁽²⁾		218,702		8,840		5.40				168,948		9,201		7.28
Commercial real estate		62,746		2,351		5.00				37,305		2,092		7.50
Commercial lease financing		22,364		557		3.32				19,828		638		4.29
Commercial - foreign ⁽²⁾		32,254		1,130		4.68				22,696		1,025		6.04
Total commercial		336,066		12,878		5.12				248,777		12,956		6.96
Total loans and leases		900,574		42,041		6.21				745,162		40,582		7.28
Other earning assets⁽²⁾		67,513		3,204		6.33				70,091		3,361		6.41
Total earning assets - excluding hedge impact		1,544,617		65,195		5.62				1,352,177		65,332		6.45
Net hedge income (expense) on assets				(219	)							(408	)
Total earning assets - including hedge impact		1,544,617		64,976		5.61				1,352,177		64,924		6.41
Cash and cash equivalents		34,598								32,881
Other assets, less allowance for loan and lease losses		229,550								169,702
Total assets	$	1,808,765							$	1,554,760

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	32,419	$	172		0.71		%	$	32,436	$	138		0.57		%
NOW and money market deposit accounts⁽²⁾		261,918		2,958		1.51				213,230		3,013		1.89
Consumer CDs and IRAs⁽²⁾		195,318		5,250		3.59				162,372		5,134		4.23
Negotiable CDs, public funds and other time deposits⁽²⁾		30,838		799		3.46				15,690		547		4.67
Total domestic interest-bearing deposits		520,493		9,179		2.36				423,728		8,832		2.79
Foreign interest-bearing deposits:
Banks located in foreign countries⁽²⁾		36,401		949		3.48				42,025		1,615		5.14
Governments and official institutions		12,758		281		2.94				16,529		620		5.01
Time, savings and other		52,211		1,220		3.12				40,587		1,246		4.10
Total foreign interest-bearing deposits		101,370		2,450		3.23				99,141		3,481		4.69
Total interest-bearing deposits		621,863		11,629		2.50				522,869		12,313		3.15
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings ⁽²⁾		454,355		10,052		2.95				414,126		16,671		5.38
Trading account liabilities		76,752		2,250		3.92				83,132		2,619		4.21
Long-term debt⁽²⁾		223,017		7,725		4.62				160,895		6,334		5.25
Total interest-bearing liabilities - excluding hedge impact		1,375,987		31,656		3.07				1,181,022		37,937		4.29
Net hedge (income) expense on liabilities				172								612
Total interest-bearing liabilities - including hedge impact		1,375,987		31,828		3.09				1,181,022		38,549		4.36
Noninterest-bearing sources:
Noninterest-bearing deposits		188,800								172,596
Other liabilities		83,088								67,264
Shareholders’ equity		160,890								133,878
Total liabilities and shareholders’ equity	$	1,808,765							$	1,554,760
Net interest spread						2.55								2.16
Impact of noninterest-bearing sources						0.34								0.54
Net interest income/yield on earning assets - excluding hedge impact			$	33,539		2.89		%			$	27,395		2.70		%
Net impact of hedge income (expense)				(391	)	(0.03	)					(1,020	)	(0.10	)
Net interest income/yield on earning assets			$	33,148		2.86		%			$	26,375		2.60		%

(1)

(2)

The following presents the impact of interest rate risk management derivatives on interest income and interest expense.

Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:


	Nine Months Ended September 30
	2008			2007
Time deposits placed and other short-term investments	$	(12	)	$	(41	)
Federal funds sold and securities purchased under agreements to resell		(173	)		(303	)
Debt securities		(4	)		(16	)
Commercial - domestic		(28	)		(21	)
Commercial - foreign		—			1
Other earning assets		(2	)		(28	)

Net hedge income (expense) on assets	$	(219	)	$	(408	)


Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

NOW and money market deposit accounts	$	10		$	14
Consumer CDs and IRAs		319			504
Negotiable CDs, public funds and other time deposits		7			7
Banks located in foreign countries		(11	)		2
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		400			(302	)
Long-term debt		(553	)		387

Net hedge (income) expense on liabilities	$	172		$	612

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Business Segment View

LOGO

(1)

Fully taxable-equivalent basis

(2)

Global Consumer and Small Business Banking is presented on a managed basis, specifically Card Services, with a corresponding offset to All Other.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Consumer and Small Business Banking Segment Results ^{(1, 2)}

(Dollars in millions; except as noted)


	Nine Months Ended September 30						Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
	2008			2007			Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
Net interest income ⁽³⁾	$	24,636		$	21,378		$	8,938		$	8,018		$	7,680		$	7,444		$	7,257
Noninterest income:
Card income		7,583			7,567			2,296			2,560			2,727			2,627			2,588
Service charges		5,130			4,385			1,822			1,743			1,565			1,623			1,519
Mortgage banking income		2,820			842			1,756			409			655			490			243
Insurance premiums		1,203			662			709			253			241			250			266
All other income		1,120			497			408			208			504			200			202

Total noninterest income		17,856			13,953			6,991			5,173			5,692			5,190			4,818

Total revenue, net of interest expense		42,492			35,331			15,929			13,191			13,372			12,634			12,075

Provision for credit losses ⁽⁴⁾		19,655			8,626			6,655			6,545			6,455			4,296			3,122
Noninterest expense		17,820			14,793			7,275			5,363			5,182			5,578			5,281

Income before income taxes		5,017			11,912			1,999			1,283			1,735			2,760			3,672
Income tax expense ⁽³⁾		1,849			4,393			765			452			632			862			1,359

Net income	$	3,168		$	7,519		$	1,234		$	831		$	1,103		$	1,898		$	2,313


Net interest yield ⁽³⁾		8.41	%		8.11	%		8.28	%		8.52	%		8.32	%		7.92	%		8.20	%
Return on average equity		5.98			16.26			6.19			5.00			6.72			11.23			14.74
Efficiency ratio ⁽³⁾		41.94			41.87			45.68			40.66			38.75			44.15			43.74

Balance sheet⁽²⁾

Average
Total loans and leases	$	374,494		$	319,123		$	393,373		$	367,839		$	362,062		$	352,167		$	331,674
Total earning assets ⁽⁵⁾		391,432			352,239			429,440			378,278			371,227			372,902			351,218
Total assets ⁽⁵⁾		457,419			403,705			509,139			436,643			430,996			428,324			401,004
Total deposits		362,387			326,528			397,073			344,061			345,647			342,926			323,282
Allocated equity		70,747			61,837			79,261			66,872			66,015			67,031			62,264

Period end
Total loans and leases	$	392,219		$	337,792		$	392,219		$	364,608		$	363,355		$	359,008		$	337,792
Total earning assets ⁽⁵⁾		445,682			355,389			445,682			375,421			379,988			381,205			355,389
Total assets ⁽⁵⁾		506,154			402,773			506,154			429,441			439,732			445,246			402,773
Total deposits		400,122			322,697			400,122			341,924			352,058			346,908			322,697

Period end (in billions)
Mortgage servicing portfolio ⁽⁶⁾	$	2,012.1		$	483.5		$	2,012.1		$	540.8		$	529.7		$	516.9		$	483.5

(1)

Global Consumer and Small Business Banking has three primary businesses: Deposits and Student Lending, Card Services, and Mortgage, Home Equity and Insurance Services. Deposits and Student Lending includes the results of ALM activities.

(2)

Presented on a managed basis, specifically Card Services. (See Exhibit A: Non-GAAP Reconciliations - Global Consumer and Small Business Banking - Reconciliation on page 46).

(3)

Fully taxable-equivalent basis

(4)

Represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

(5)

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

(6)

Servicing of residential, home equity and discontinued real estate mortgage loans.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Consumer and Small Business Banking Business Results

(Dollars in millions)


	Three Months Ended September 30, 2008
	Total⁽¹⁾		Deposits and Student Lending⁽²⁾		Card Services ⁽¹⁾			Mortgage, Home Equity and Insurance Services
Net interest income ⁽³⁾	$ 8,938		$ 2,997		$ 4,831			$ 1,110
Noninterest income:
Card income	2,296		616		1,679			1
Service charges	1,822		1,821		—			1
Mortgage banking income	1,756		—		—			1,756
Insurance premiums	709		—		139			570
All other income	408		8		394			6

Total noninterest income	6,991		2,445		2,212			2,334

Total revenue, net of interest expense	15,929		5,442		7,043			3,444

Provision for credit losses⁽⁴⁾	6,655		239		5,462			954
Noninterest expense	7,275		2,362		2,161			2,752

Income (loss) before income taxes	1,999		2,841		(580	)		(262	)
Income tax expense (benefit) ⁽³⁾	765		1,072		(207	)		(100	)

Net income (loss)	$ 1,234		$ 1,769		$ (373	)		$ (162	)


Net interest yield ⁽³⁾	8.28	%	3.20	%	8.25		%	2.57		%
Return on average equity	6.19		35.87		(3.57	)		(3.57	)
Efficiency ratio ⁽³⁾	45.68		43.41		30.68			79.92
Average - total loans and leases	$393,373		n/m		$232,578			$145,561
Average - total deposits	397,073		$379,298		n/m			n/m
Period end - total assets ⁽⁵⁾	506,154		397,801		253,671			203,936

	Three Months Ended June 30, 2008
	Total⁽¹⁾		Deposits and Student Lending ⁽²⁾		Card Services ⁽¹⁾			Mortgage, Home Equity and Insurance Services
Net interest income ⁽³⁾	$ 8,018		$ 2,696		$ 4,650			$ 672
Noninterest income:
Card income	2,560		618		1,941			1
Service charges	1,743		1,742		—			1
Mortgage banking income	409		—		—			409
Insurance premiums	253		—		141			112
All other income	208		31		60			117

Total noninterest income	5,173		2,391		2,142			640

Total revenue, net of interest expense	13,191		5,087		6,792			1,312

Provision for credit losses⁽⁴⁾	6,545		283		4,065			2,197
Noninterest expense	5,363		2,523		2,114			726

Income (loss) before income taxes	1,283		2,281		613			(1,611	)
Income tax expense (benefit)⁽³⁾	452		828		190			(566	)

Net income (loss)	$ 831		$ 1,453		$ 423			$ (1,045	)


Net interest yield ⁽³⁾	8.52	%	3.24	%	8.06		%	2.05		%
Return on average equity	5.00		29.08		4.10			(80.03	)
Efficiency ratio ⁽³⁾	40.66		49.59		31.12			55.35
Average - total loans and leases	$367,839		n/m		$231,492			$121,545
Average - total deposits	344,061		$337,485		n/m			n/m
Period end - total assets ⁽⁵⁾	429,441		361,367		259,986			129,765

	Three Months Ended September 30, 2007
	Total⁽¹⁾		Deposits and Student Lending ⁽²⁾		Card Services ⁽¹⁾			Mortgage, Home Equity and Insurance Services
Net interest income ⁽³⁾	$ 7,257		$ 2,563		$ 4,128			$ 566
Noninterest income:
Card income	2,588		551		2,035			2
Service charges	1,519		1,518		—			1
Mortgage banking income	243		—		—			243
Insurance premiums	266		—		179			87
All other income	202		37		139			26

Total noninterest income	4,818		2,106		2,353			359

Total revenue, net of interest expense	12,075		4,669		6,481			925

Provision for credit losses⁽⁴⁾	3,122		184		2,741			197
Noninterest expense	5,281		2,480		2,113			688

Income before income taxes	3,672		2,005		1,627			40
Income tax expense ⁽³⁾	1,359		759		590			10

Net income	$ 2,313		$ 1,246		$ 1,037			$30


Net interest yield ⁽³⁾	8.20	%	3.14	%	7.77		%	1.94		%
Return on average equity	14.74		26.93		10.39			2.74
Efficiency ratio ⁽³⁾	43.74		53.11		32.61			74.40
Average - total loans and leases	$331,674		n/m		$210,168			$108,571
Average - total deposits	323,282		$317,128		n/m			n/m
Period end - total assets ⁽⁵⁾	402,773		341,615		243,988			124,069

(1)

Presented on a managed basis, specifically Card Services.

(2)

For the three months ended September 30, 2008, June 30, 2008 and September 30, 2007, a total of $3.3 billion, $5.6 billion and $2.6 billion of deposits were migrated from Global Consumer and Small Business Banking to Global Wealth and Investment Management.

(3)

Fully taxable-equivalent basis

(4)

Represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

(5)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Consumer and Small Business Banking Business Results

(Dollars in millions)


	Nine Months Ended September 30, 2008
	Total⁽¹⁾		Deposits and Student Lending ⁽²⁾		Card Services ⁽¹⁾			Mortgage, Home Equity and Insurance Services
Net interest income ⁽³⁾	$ 24,636		$ 8,258		$ 13,977			$ 2,401
Noninterest income:
Card income	7,583		1,795		5,783			5
Service charges	5,130		5,127		—			3
Mortgage banking income	2,820		—		—			2,820
Insurance premiums	1,203		—		432			771
All other income	1,120		47		924			149

Total noninterest income	17,856		6,969		7,139			3,748

Total revenue, net of interest expense	42,492		15,227		21,116			6,149

Provision for credit losses⁽⁴⁾	19,655		772		13,834			5,049
Noninterest expense	17,820		7,409		6,198			4,213

Income (loss) before income taxes	5,017		7,046		1,084			(3,113	)
Income tax expense (benefit)⁽³⁾	1,849		2,608		359			(1,118	)

Net income (loss)	$ 3,168		$ 4,438		$ 725			$ (1,995	)


Net interest yield ⁽³⁾	8.41	%	3.17	%	8.09		%	2.23		%
Return on average equity	5.98		29.56		2.34			(28.53	)
Efficiency ratio ⁽³⁾	41.94		48.66		29.35			68.53
Average - total loans and leases	$374,494		n/m		$230,423			$129,106
Average - total deposits	362,387		$352,258		n/m			n/m
Period end - total assets ⁽⁵⁾	506,154		397,801		253,671			203,936

	Nine Months Ended September 30, 2007
	Total⁽¹⁾		Deposits and Student Lending ⁽²⁾		Card Services ⁽¹⁾			Mortgage, Home Equity and Insurance Services
Net interest income ⁽³⁾	$ 21,378		$ 7,768		$ 11,996			$ 1,614
Noninterest income:
Card income	7,567		1,590		5,972			5
Service charges	4,385		4,382		(1	)		4
Mortgage banking income	842		—		—			842
Insurance premiums	662		—		411			251
All other income	497		88		348			61

Total noninterest income	13,953		6,060		6,730			1,163

Total revenue, net of interest expense	35,331		13,828		18,726			2,777

Provision for credit losses⁽⁴⁾	8,626		380		7,891			355
Noninterest expense	14,793		6,989		5,968			1,836

Income before income taxes	11,912		6,459		4,867			586
Income tax expense ⁽³⁾	4,393		2,404		1,775			214

Net income	$ 7,519		$ 4,055		$ 3,092			$ 372


Net interest yield ⁽³⁾	8.11	%	3.18	%	7.83		%	2.00		%
Return on average equity	16.26		28.82		10.57			12.66
Efficiency ratio ⁽³⁾	41.87		50.55		31.87			66.09
Average - total loans and leases	$319,123		n/m		$204,209			$102,042
Average - total deposits	326,528		$320,515		n/m			n/m
Period end - total assets ⁽⁵⁾	402,773		341,615		243,988			124,069

(1)

Presented on a managed basis, specifically Card Services.

(2)

For the nine months ended September 30, 2008 and 2007, a total of $15.9 billion and $9.0 billion of deposits were migrated from Global Consumer and Small Business Banking to Global Wealth and Investment Management.

(3)

Fully taxable-equivalent basis

(4)

Represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

(5)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Consumer and Small Business Banking - Key Indicators

(Dollars in millions; except as noted)


	Nine Months Ended September 30								Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
	2008				2007				Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
Deposits and Student Lending Key Indicators
Average deposit balances
Checking	$	126,621			$	125,003			$	125,823			$	128,221			$	125,829			$	124,811			$	122,653
Savings		29,437				29,461				29,392				30,092				28,828				28,959				28,566
MMS		72,195				62,620				80,362				69,771				66,360				64,722				60,991
CD’s & IRA’s		120,686				100,221				139,808				106,215				115,824				115,117				101,418
Foreign and other		2,526				2,487				3,117				2,394				2,063				3,002				2,712

Total average deposit balances	$	351,465			$	319,792			$	378,502			$	336,693			$	338,904			$	336,611			$	316,340

Total balances migrated to Premier Banking and Investments	$	15,934			$	8,968			$	3,272			$	5,631			$	7,031			$	2,443			$	2,560

Deposit spreads (excludes noninterest costs)
Checking		4.22		%		4.27		%		4.23		%		4.15		%		4.29		%		4.31		%		4.30		%
Savings		3.80				3.73				3.80				3.70				3.89				3.77				3.71
MMS		1.39				3.41				1.15				1.30				1.54				2.83				3.43
CD’s & IRA’s		0.43				1.10				0.14				0.40				0.53				0.89				1.06
Foreign and other		4.48				4.33				4.52				4.47				4.44				4.38				4.32
Total deposit spreads		2.34				3.04				2.01				2.31				2.41				2.79				3.02

Net new retail checking (units in thousands)		2,054				1,961				823				674				557				343				757

Debit purchase volumes	$	157,603			$	138,320			$	53,263			$	54,274			$	50,066			$	51,133			$	47,329

Online banking (end of period)
Active accounts (units in thousands)		28,636				23,057				28,636				25,299				24,949				23,791				23,057
Active billpay accounts (units in thousands)		15,732				11,928				15,732				13,269				13,081				12,552				11,928

Card Services Key Indicators
Managed credit card data ⁽¹⁾
Gross interest yield		11.63		%		12.73		%		11.52		%		11.44		%		11.94		%		12.48		%		12.74		%
Risk adjusted margin ⁽¹⁾		6.69				7.68				6.75				6.39				6.92				7.74				7.95
Loss rates		5.85				4.81				6.40				5.96				5.19				4.75				4.67
Average outstandings	$	185,258			$	169,005			$	186,408			$	185,659			$	183,694			$	178,411			$	172,002
Ending outstandings		183,398				173,770				183,398				187,162				183,758				183,691				173,770
New account growth (in thousands)		7,051				8,260				1,766				2,670				2,615				3,509				2,895
Purchase volumes	$	186,940			$	183,965			$	62,662			$	64,457			$	59,821			$	68,380			$	63,494
Delinquencies:
30 Day		5.89		%		5.24		%		5.89		%		5.53		%		5.61		%		5.45		%		5.24		%
90 Day		2.88				2.48				2.88				2.82				2.83				2.66				2.48

Mortgage, Home Equity and Insurance Services Key Indicators
Mortgage servicing rights at fair value rollforward:
Beginning balance	$	3,053			$	2,869			$	4,250			$	3,163			$	3,053			$	3,179			$	3,269
Countrywide balance, July 1, 2008		17,188				—				17,188				—				—				—				—
Additions		1,910				539				875				669				366				253				271
Impact of customer payments		(1,855	)			(554	)			(1,425	)			(233	)			(197	)			(212	)			(187	)
Other changes in MSR		515				325				(77	)			651				(59	)			(167	)			(174	)

Ending balance	$	20,811			$	3,179			$	20,811			$	4,250			$	3,163			$	3,053			$	3,179

Capitalized mortgage servicing rights (% of loans serviced)		126		bps		130		bps		126		bps		145		bps		118		bps		118		bps		130		bps
Mortgage loans serviced for investors (in billions)	$	1,654			$	245			$	1,654			$	292			$	268			$	259			$	245

Global Consumer and Small Business Banking
Mortgage production	$	86,184			$	70,934			$	49,625			$	18,515			$	18,044			$	22,370			$	24,533
Home equity production		28,078				53,224				5,260				8,997				13,821				16,001				17,352

Total Corporation
Mortgage production		95,899				79,551				51,539				22,438				21,922				24,834				26,930
Home equity production		35,164				64,884				7,023				11,500				16,641				19,299				21,105

(1)

Credit Card includes U.S. Consumer Card, foreign and U.S. Government card. Does not include Business Credit Card.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

E-Commerce & BankofAmerica.com

Bank of America has the largest active online banking customer base with 28.6 million subscribers.

Bank of America uses a strict Active User standard—customers must have used our online services within the last 90 days.

15.7 million active bill pay users paid $83.4 billion worth of bills this quarter. The number of customers who sign up and use Bank of America’s Bill Pay Service continues to far surpass that of any other financial institution.

Currently, approximately 407 companies are presenting 38.0 million e-bills per quarter.

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Certain prior period amounts have been reclassified to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Credit Card Data ⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30							Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
	2008			2007				Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
Loans
Period end
Held credit card outstandings	$	81,350		$	71,702			$	81,350		$	78,642		$	75,911		$	80,724		$	71,702
Securitization impact		102,048			102,068				102,048			108,520			107,847			102,967			102,068

Managed credit card outstandings	$	183,398		$	173,770			$	183,398		$	187,162		$	183,758		$	183,691		$	173,770

Average
Held credit card outstandings	$	79,081		$	68,842			$	80,489		$	78,221		$	78,518		$	74,392		$	69,486
Securitization impact		106,177			100,163				105,919			107,438			105,176			104,019			102,516

Managed credit card outstandings	$	185,258		$	169,005			$	186,408		$	185,659		$	183,694		$	178,411		$	172,002


Credit Quality
Charge-Offs $
Held net charge-offs	$	3,306		$	2,595			$	1,242		$	1,108		$	956		$	846		$	808
Securitization impact		4,813			3,481				1,754			1,643			1,416			1,292			1,216

Managed credit card net losses	$	8,119		$	6,076			$	2,996		$	2,751		$	2,372		$	2,138		$	2,024

Charge-Offs %
Held net charge-offs		5.58	%		5.04		%		6.14	%		5.69	%		4.90	%		4.51	%		4.61		%
Securitization impact		0.27			(0.23	)			0.26			0.27			0.29			0.24			0.06

Managed credit card net losses		5.85	%		4.81		%		6.40	%		5.96	%		5.19	%		4.75	%		4.67		%

30+ Delinquency $
Held delinquency	$	4,675		$	3,727			$	4,675		$	4,121		$	4,017		$	4,298		$	3,727
Securitization impact		6,126			5,381				6,126			6,226			6,288			5,710			5,381

Managed delinquency	$	10,801		$	9,108			$	10,801		$	10,347		$	10,305		$	10,008		$	9,108

30+ Delinquency %
Held delinquency		5.75	%		5.20		%		5.75	%		5.24	%		5.29	%		5.32	%		5.20		%
Securitization impact		0.14			0.04				0.14			0.29			0.32			0.13			0.04

Managed delinquency		5.89	%		5.24		%		5.89	%		5.53	%		5.61	%		5.45	%		5.24		%

90+ Delinquency $
Held delinquency	$	2,330		$	1,788			$	2,330		$	2,109		$	2,055		$	2,127		$	1,788
Securitization impact		2,958			2,514				2,958			3,169			3,137			2,757			2,514

Managed delinquency	$	5,288		$	4,302			$	5,288		$	5,278		$	5,192		$	4,884		$	4,302

90+ Delinquency %
Held delinquency		2.87	%		2.49		%		2.87	%		2.68	%		2.71	%		2.63	%		2.49		%
Securitization impact		0.01			(0.01	)			0.01			0.14			0.12			0.03			(0.01	)

Managed delinquency		2.88	%		2.48		%		2.88	%		2.82	%		2.83	%		2.66	%		2.48		%

(1)

Credit Card includes U.S. Consumer Card, foreign and U.S. Government card. Does not include Business Credit Card.

Certain prior period amounts have been reclassified to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Mass Market Small Business Banking Results: Relationship View

(Dollars in millions)


	Three Months Ended September 30, 2008 ⁽¹⁾
	Total	Global Consumer and Small Business Banking	Other⁽²⁾
Net interest income ⁽³⁾	$ 953	$ 933	$20
Noninterest income	642	568	74

Total revenue, net of interest expense	1,595	1,501	94

Provision for credit losses	729	717	12
Noninterest expense	550	505	45

Income before income taxes	316	279	37
Income tax expense ⁽³⁾	117	104	13

Net income	$ 199	$ 175	$24


	Three Months Ended June 30, 2008 ⁽¹⁾
	Total	Global Consumer and Small Business Banking	Other⁽²⁾
Net interest income ⁽³⁾	$ 935	$ 916	$19
Noninterest income	647	569	78

Total revenue, net of interest expense	1,582	1,485	97

Provision for credit losses	608	598	10
Noninterest expense	552	501	51

Income before income taxes	422	386	36
Income tax expense ⁽³⁾	156	142	14

Net income	$ 266	$ 244	$22


	Three Months Ended September 30, 2007
	Total	Global Consumer and Small Business Banking	Other⁽²⁾
Net interest income ⁽³⁾	$ 898	$ 882	$16
Noninterest income	593	517	76

Total revenue, net of interest expense	1,491	1,399	92

Provision for credit losses	532	527	5
Noninterest expense	505	473	32

Income before income taxes	454	399	55
Income tax expense⁽³⁾	169	148	21

Net income	$ 285	$ 251	$34

(1)

Includes Small Business and Business Banking results of LaSalle Bank Corporation beginning on October 1, 2007.

(2)

Includes Mass Market Small Business Banking results within Global Corporate and Investment Banking and Global Wealth and Investment Management.

(3)

Fully taxable-equivalent basis

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Mass Market Small Business Banking Results: Relationship View

(Dollars in millions)


	Nine Months Ended September 30, 2008⁽¹⁾
	Total	Global Consumer and Small Business Banking	Other ⁽²⁾
Net interest income ⁽³⁾	$2,815	$2,758	$ 57
Noninterest income	1,887	1,662	225

Total revenue, net of interest expense	4,702	4,420	282

Provision for credit losses	2,441	2,409	32
Noninterest expense	1,647	1,501	146

Income before income taxes	614	510	104
Income tax expense ⁽³⁾	227	189	38

Net income	$ 387	$ 321	$ 66


	Nine Months Ended September 30, 2007
	Total	Global Consumer and Small Business Banking	Other ⁽²⁾
Net interest income ⁽³⁾	$2,601	$2,556	$ 45
Noninterest income	1,709	1,488	221

Total revenue, net of interest expense	4,310	4,044	266

Provision for credit losses	1,312	1,296	16
Noninterest expense	1,511	1,378	133

Income before income taxes	1,487	1,370	117
Income tax expense⁽³⁾	549	507	42

Net income	$ 938	$ 863	$ 75

(1)

Includes Small Business and Business Banking results of LaSalle Bank Corporation beginning on October 1, 2007.

(2)

Includes Mass Market Small Business Banking results within Global Corporate and Investment Banking and Global Wealth and Investment Management.

(3)

Fully taxable-equivalent basis

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking Segment Results ⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30					Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
	2008			2007		Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
Net interest income ⁽²⁾	$ 11,540			$ 7,709		$ 4,124			$ 3,822			$ 3,594			$ 3,417			$ 2,713
Noninterest income:
Service charges	2,503			2,010		858			856			789			761			673
Investment and brokerage services	674			690		218			211			245			223			236
Investment banking income	1,922			1,960		491			766			665			576			436
Trading account profits (losses)	(1,814	)		456		(393	)		369			(1,790	)		(5,376	)		(1,376	)
All other income (loss)	(1,169	)		1,460		(761	)		(68	)		(340	)		(315	)		237

Total noninterest income	2,116			6,576		413			2,134			(431	)		(4,131	)		206

Total revenue, net of interest expense	13,656			14,285		4,537			5,956			3,163			(714	)		2,919

Provision for credit losses	1,665			384		779			361			525			274			227
Noninterest expense	8,152			8,746		2,907			2,793			2,452			3,452			2,538

Income (loss) before income taxes	3,839			5,155		851			2,802			186			(4,440	)		154
Income tax expense (benefit)⁽²⁾	1,441			1,914		318			1,053			70			(1,657	)		64

Net income (loss)	$ 2,398			$ 3,241		$ 533			$ 1,749			$ 116			$ (2,783	)		$ 90


Net interest yield ⁽²⁾	2.17		%	1.56	%	2.31		%	2.19		%	2.00		%	1.88		%	1.62		%
Return on average equity	5.29			10.19		3.43			11.59			0.79			(20.61	)		0.81
Efficiency ratio ⁽²⁾	59.69			61.23		64.07			46.90			77.51			n/m			86.96

Balance sheet

Average
Total loans and leases	$335,328			$256,899		$342,494			$336,328			$327,083			$327,622			$268,294
Total trading-related assets	349,683			364,843		350,063			337,058			361,923			354,336			356,867
Total market-based earning assets ⁽³⁾	385,517			414,363		377,630			375,274			403,733			407,315			407,066
Total earning assets⁽⁴⁾	710,997			662,599		710,004			701,834			721,165			720,587			663,720
Total assets ⁽⁴⁾	824,788			752,860		821,444			816,065			836,895			825,697			758,281
Total deposits	235,671			214,553		237,935			233,788			235,264			235,730			216,715
Allocated equity	60,499			42,529		61,792			60,718			58,973			53,558			44,027

Period end
Total loans and leases	$339,645			$276,143		$339,645			$346,046			$328,083			$326,042			$276,143
Total trading-related assets	277,442			333,107		277,442			303,423			317,256			308,316			333,107
Total market-based earning assets ⁽³⁾	289,918			375,100		289,918			335,207			347,877			360,276			375,100
Total earning assets ⁽⁴⁾	633,976			637,512		633,976			669,774			671,279			675,407			637,512
Total assets ⁽⁴⁾	753,495			739,427		753,495			780,504			793,993			778,158			739,427
Total deposits	244,304			210,656		244,304			227,993			233,220			246,242			210,656

(1)

Global Corporate and Investment Banking has three primary businesses: Business Lending, Capital Markets and Advisory Services, and Treasury Services. In addition, ALM/Other includes the results of ALM activities and other Global Corporate and Investment Banking activities.

(2)

Fully taxable-equivalent basis

(3)

Total market-based earning assets represents earning assets included in the Capital Markets and Advisory Services business but excludes loans that are accounted for at fair value in accordance with SFAS 159.

(4)

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

n/m

= not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking Business Results

(Dollars in millions)


	Three Months Ended September 30, 2008
	Total				Business Lending				Capital Markets and Advisory Services ⁽¹⁾			Treasury Services				ALM/ Other
Net interest income ⁽²⁾	$	4,124			$	1,542			$ 1,471			$	912			$	199
Noninterest income:
Service charges		858				171			37				650				—
Investment and brokerage services		218				—			209				9				—
Investment banking income		491				—			491				—				—
Trading account profits (losses)		(393	)			40			(450	)			19				(2	)
All other income (loss)		(761	)			176			(1,486	)			295				254

Total noninterest income		413				387			(1,199	)			973				252

Total revenue, net of interest expense		4,537				1,929			272				1,885				451

Provision for credit losses		779				780			33				19				(53	)
Noninterest expense		2,907				546			1,340				982				39

Income (loss) before income taxes		851				603			(1,101	)			884				465
Income tax expense (benefit) ⁽²⁾		318				229			(408	)			327				170

Net income (loss)	$	533			$	374			$ (693	)		$	557			$	295

Net interest yield ⁽²⁾		2.31		%		1.93		%	n/m				2.20		%		n/m
Return on average equity		3.43				6.39			(14.13	)	%		26.63				n/m
Efficiency ratio ⁽²⁾		64.07				28.31			n/m				52.14				n/m
Average - total loans and leases	$	342,494			$	313,367			$ 21,676			$	7,429				n/m
Average - total deposits		237,935				n/m			57,227				180,392				n/m
Period end - total assets ⁽³⁾		753,495				333,552			356,527				207,168				n/m

	Three Months Ended June 30, 2008
	Total				Business Lending				Capital Markets and Advisory Services ⁽¹⁾			Treasury Services				ALM/ Other
Net interest income ⁽²⁾	$	3,822			$	1,456			$ 1,394			$	856			$	116
Noninterest income:
Service charges		856				156			31				669				—
Investment and brokerage services		211				—			200				11				—
Investment banking income		766				—			766				—				—
Trading account profits		369				151			199				19				—
All other income (loss)		(68	)			266			(638	)			303				1

Total noninterest income		2,134				573			558				1,002				1

Total revenue, net of interest expense		5,956				2,029			1,952				1,858				117

Provision for credit losses		361				398			(38	)			3				(2	)
Noninterest expense		2,793				541			1,282				917				53

Income before income taxes		2,802				1,090			708				938				66
Income tax expense ⁽²⁾		1,053				424			259				347				23

Net income	$	1,749			$	666			$ 449			$	591			$	43

Net interest yield ⁽²⁾		2.19		%		1.88		%	n/m				2.09		%		n/m
Return on average equity		11.59				12.04			9.13		%		29.42				n/m
Efficiency ratio ⁽²⁾		46.90				26.60			65.71				49.34				n/m
Average - total loans and leases	$	336,328			$	308,092			$ 21,042			$	7,187				n/m
Average - total deposits		233,788				n/m			57,981				175,437				n/m
Period end - total assets ⁽³⁾		780,504				322,535			393,570				194,769				n/m

	Three Months Ended September 30, 2007
	Total				Business Lending				Capital Markets and Advisory Services ⁽¹⁾			Treasury Services				ALM/ Other
Net interest income ⁽²⁾	$	2,713			$	1,073			$ 811			$	928			$	(99	)
Noninterest income:
Service charges		673				115			36				522				—
Investment and brokerage services		236				—			225				11				—
Investment banking income		436				—			436				—				—
Trading account profits (losses)		(1,376	)			(45	)		(1,349	)			18				—
All other income (loss)		237				214			(277	)			271				29

Total noninterest income		206				284			(929	)			822				29

Total revenue, net of interest expense		2,919				1,357			(118	)			1,750				(70	)

Provision for credit losses		227				238			(4	)			(8	)			1
Noninterest expense		2,538				552			1,083				865				38

Income (loss) before income taxes		154				567			(1,197	)			893				(109	)
Income tax expense (benefit) ⁽²⁾		64				215			(441	)			330				(40	)

Net income (loss)	$	90			$	352			$ (756	)		$	563			$	(69	)

Net interest yield ⁽²⁾		1.62		%		1.75		%	n/m				2.77		%		n/m
Return on average equity		0.81				9.02			(21.91	)	%		28.08				n/m
Efficiency ratio ⁽²⁾		86.96				40.66			n/m				49.38				n/m
Average - total loans and leases	$	268,294			$	239,376			$ 22,720			$	6,179				n/m
Average - total deposits		216,715				n/m			66,850				149,704				n/m
Period end - total assets ⁽³⁾		739,427				253,231			431,506				155,919				n/m

(1)

Includes $23 million, $25 million and $22 million of net interest income on loans for which the fair value option has been elected and is not considered market-based income for the three months ended September 30, 2008, June 30, 2008 and September 30, 2007.

(2)

Fully taxable-equivalent basis

(3)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking Business Results

(Dollars in millions)


	Nine Months Ended September 30, 2008
	Total				Business Lending				Capital Markets and Advisory Services ⁽¹⁾			Treasury Services			ALM/ Other
Net interest income ⁽²⁾	$	11,540			$	4,439			$ 4,200			$	2,601		$	300
Noninterest income:
Service charges		2,503				464			101				1,938			—
Investment and brokerage services		674				—			643				31			—
Investment banking income		1,922				—			1,922				—			—
Trading account profits (losses)		(1,814	)			(7	)		(1,871	)			56			8
All other income (loss)		(1,169	)			701			(3,388	)			1,242			276

Total noninterest income		2,116				1,158			(2,593	)			3,267			284

Total revenue, net of interest expense		13,656				5,597			1,607				5,868			584

Provision for credit losses		1,665				1,701			(6	)			24			(54	)
Noninterest expense		8,152				1,620			3,751				2,687			94

Income (loss) before income taxes		3,839				2,276			(2,138	)			3,157			544
Income tax expense (benefit)⁽²⁾		1,441				870			(795	)			1,168			198

Net income (loss)	$	2,398			$	1,406			$ (1,343	)		$	1,989		$	346

Net interest yield ⁽²⁾		2.17		%		1.91		%	n/m				2.19	%		n/m
Return on average equity		5.29				8.44			(9.34	)	%		32.73			n/m
Efficiency ratio ⁽²⁾		59.69				28.93			n/m				45.79			n/m
Average - total loans and leases	$	335,328			$	306,765			$ 21,292			$	7,250			n/m
Average - total deposits		235,671				n/m			61,221				174,133			n/m
Period end - total assets ⁽³⁾		753,495				333,552			356,527				207,168			n/m

	Nine Months Ended September 30, 2007
	Total				Business Lending				Capital Markets and Advisory Services ⁽¹⁾			Treasury Services			ALM/ Other
Net interest income ⁽²⁾	$	7,709			$	3,224			$ 1,952			$	2,797		$	(264	)
Noninterest income:
Service charges		2,010				363			99				1,548			—
Investment and brokerage services		690				1			658				31			—
Investment banking income		1,960				—			1,960				—			—
Trading account profits (losses)		456				(42	)		452				46			—
All other income (loss)		1,460				632			(83	)			796			115

Total noninterest income		6,576				954			3,086				2,421			115

Total revenue, net of interest expense		14,285				4,178			5,038				5,218			(149	)

Provision for credit losses		384				373			6				6			(1	)
Noninterest expense		8,746				1,593			4,398				2,590			165

Income (loss) before income taxes		5,155				2,212			634				2,622			(313	)
Income tax expense (benefit)⁽²⁾		1,914				823			236				970			(115	)

Net income (loss)	$	3,241			$	1,389			$ 398			$	1,652		$	(198	)

Net interest yield ⁽²⁾		1.56		%		1.82		%	n/m				2.78	%		n/m
Return on average equity		10.19				12.42			4.25		%		28.22			n/m
Efficiency ratio ⁽²⁾		61.23				38.18			87.30				49.63			n/m
Average - total loans and leases	$	256,899			$	232,859			$ 18,508			$	5,581			n/m
Average - total deposits		214,553				n/m			64,385				149,944			n/m
Period end - total assets ⁽³⁾		739,427				253,231			431,506				155,919			n/m

(1)

Includes $75 million and $44 million of net interest income on loans for which the fair value option has been elected and is not considered market-based income for the nine months ended September 30, 2008 and 2007.

(2)

Fully taxable-equivalent basis

(3)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m

= not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking Business Results: Customer Relationship View

(Dollars in millions)


	Three Months Ended September 30, 2008
	Total			Commercial			Corporate and Investment Bank			Other
Net interest income ⁽¹⁾	$ 4,124			$ 2,219			$ 2,070			$(165	)
Noninterest income:
Service charges	858			487			371			—
Investment and brokerage services	218			6			212			—
Investment banking income	491			19			472			—
Trading account profits (losses)	(393	)		54			(447	)		—
All other income (loss)	(761	)		384			(1,400	)		255

Total noninterest income	413			950			(792	)		255

Total revenue, net of interest expense	4,537			3,169			1,278			90

Provision for credit losses	779			692			143			(56	)
Noninterest expense	2,907			1,020			1,831			56

Income (loss) before income taxes	851			1,457			(696	)		90
Income tax expense (benefit)⁽¹⁾	318			545			(258	)		31

Net income (loss)	$ 533			$ 912			$ (438	)		$ 59

Net interest yield ⁽¹⁾	2.31		%	3.36		%	1.84		%	n/m
Return on average equity	3.43			14.76			(6.42	)		n/m
Efficiency ratio ⁽¹⁾	64.07			32.19			n/m			n/m
Average - total loans and leases	$342,494			$257,986			$ 84,483			n/m
Average - total deposits	237,935			106,929			130,991			n/m
Period end - total assets ⁽²⁾	753,495			285,939			442,095			n/m

	Three Months Ended June 30, 2008
	Total			Commercial			Corporate and Investment Bank			Other
Net interest income ⁽¹⁾	$ 3,822			$ 2,086			$ 1,898			$(162	)
Noninterest income:
Service charges	856			498			358			—
Investment and brokerage services	211			7			204			—
Investment banking income	766			22			744			—
Trading account profits	369			96			273			—
All other income (loss)	(68	)		587			(661	)		6

Total noninterest income	2,134			1,210			918			6

Total revenue, net of interest expense	5,956			3,296			2,816			(156	)

Provision for credit losses	361			415			(66	)		12
Noninterest expense	2,793			974			1,750			69

Income (loss) before income taxes	2,802			1,907			1,132			(237	)
Income tax expense (benefit) ⁽¹⁾	1,053			727			415			(89	)

Net income (loss)	$ 1,749			$ 1,180			$ 717			$(148	)

Net interest yield ⁽¹⁾	2.19		%	3.22		%	1.73		%	n/m
Return on average equity	11.59			20.13			10.86			n/m
Efficiency ratio ⁽¹⁾	46.90			29.53			62.19			n/m
Average - total loans and leases	$336,328			$256,160			$ 80,150			n/m
Average - total deposits	233,788			107,729			126,002			n/m
Period end - total assets ⁽²⁾	780,504			282,276			472,509			n/m

	Three Months Ended September 30, 2007
	Total			Commercial			Corporate and Investment Bank			Other
Net interest income ⁽¹⁾	$ 2,713			$ 1,660			$ 1,167			$(114	)
Noninterest income:
Service charges	673			340			333			—
Investment and brokerage services	236			9			227			—
Investment banking income	436			21			415			—
Trading account profits (losses)	(1,376	)		(29	)		(1,347	)		—
All other income (loss)	237			439			(228	)		26

Total noninterest income	206			780			(600	)		26

Total revenue, net of interest expense	2,919			2,440			567			(88	)

Provision for credit losses	227			167			60			—
Noninterest expense	2,538			848			1,650			40

Income (loss) before income taxes	154			1,425			(1,143	)		(128	)
Income tax expense (benefit)⁽¹⁾	64			532			(421	)		(47	)

Net income (loss)	$ 90			$ 893			$ (722	)		$ (81	)

Net interest yield ⁽¹⁾	1.62		%	3.27		%	n/m			n/m
Return on average equity	0.81			19.82			(14.89	)	%	n/m
Efficiency ratio ⁽¹⁾	86.96			34.77			n/m			n/m
Average - total loans and leases	$268,294			$196,868			$ 71,404			n/m
Average - total deposits	216,715			90,525			126,160			n/m
Period end - total assets ⁽²⁾	739,427			223,668			497,887			n/m

(1)

Fully taxable-equivalent basis

(2)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m

= not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking Business Results: Customer Relationship View

(Dollars in millions)


	Nine Months Ended September 30, 2008
	Total			Commercial			Corporate and Investment Bank			Other
Net interest income ⁽¹⁾	$ 11,540			$ 6,269			$ 5,750			$(479	)
Noninterest income:
Service charges	2,503			1,428			1,075			—
Investment and brokerage services	674			21			653			—
Investment banking income	1,922			62			1,860			—
Trading account profits (losses)	(1,814	)		(25	)		(1,797	)		8
All other income (loss)	(1,169	)		1,744			(3,196	)		283

Total noninterest income	2,116			3,230			(1,405	)		291

Total revenue, net of interest expense	13,656			9,499			4,345			(188	)

Provision for credit losses	1,665			1,623			85			(43	)
Noninterest expense	8,152			2,870			5,139			143

Income (loss) before income taxes	3,839			5,006			(879	)		(288	)
Income tax expense (benefit)⁽¹⁾	1,441			1,879			(329	)		(109	)

Net income (loss)	$ 2,398			$ 3,127			$ (550	)		$(179	)

Net interest yield ⁽¹⁾	2.17		%	3.23		%	1.70		%	n/m
Return on average equity	5.29			17.60			(2.79	)		n/m
Efficiency ratio ⁽¹⁾	59.69			30.22			n/m			n/m
Average - total loans and leases	$335,328			$254,702			$ 80,598			n/m
Average - total deposits	235,671			104,872			130,769			n/m
Period end - total assets ⁽²⁾	753,495			285,939			442,095			n/m

	Nine Months Ended September 30, 2007
	Total			Commercial			Corporate and Investment Bank			Other
Net interest income ⁽¹⁾	$ 7,709			$ 4,933			$ 3,098			$(322	)
Noninterest income:
Service charges	2,010			1,031			979			—
Investment and brokerage services	690			26			664			—
Investment banking income	1,960			58			1,902			—
Trading account profits (losses)	456			(23	)		478			1
All other income	1,460			1,351			1			108

Total noninterest income	6,576			2,443			4,024			109

Total revenue, net of interest expense	14,285			7,376			7,122			(213	)

Provision for credit losses	384			302			80			2
Noninterest expense	8,746			2,820			5,763			163

Income (loss) before income taxes	5,155			4,254			1,279			(378	)
Income tax expense (benefit)⁽¹⁾	1,914			1,578			475			(139	)

Net income (loss)	$ 3,241			$ 2,676			$ 804			$(239	)

Net interest yield ⁽¹⁾	1.56		%	3.33		%	n/m			n/m
Return on average equity	10.19			20.73			5.95		%	n/m
Efficiency ratio ⁽¹⁾	61.23			38.24			80.94			n/m
Average - total loans and leases	256,899			$193,600			$ 63,351			n/m
Average - total deposits	214,553			90,885			123,664			n/m
Period end - total assets ⁽²⁾	739,427			223,668			497,887			n/m

(1)

Fully taxable-equivalent basis

(2)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m

= not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking - Business Lending Key Indicators

(Dollars in millions)


	Nine Months Ended September 30							Third Quarter 2008			Second Quarter 2008				First Quarter 2008			Fourth Quarter 2007				Third Quarter 2007
	2008			2007				Third Quarter 2008			Second Quarter 2008				First Quarter 2008			Fourth Quarter 2007				Third Quarter 2007
Business lending revenue, net of interest expense
Corporate lending⁽¹⁾	$	874		$	509			$	312		$	249			$	313		$	236			$	148
Commercial lending		4,065			3,119				1,293			1,470				1,302			1,601				1,039
Consumer indirect lending		658			550				324			310				24			64				170

Total revenue, net of interest expense	$	5,597		$	4,178			$	1,929		$	2,029			$	1,639		$	1,901			$	1,357


Business lending margin
Corporate lending		1.00	%		0.81		%		1.07	%		0.97		%		0.95	%		0.76		%		0.51		%
Commercial lending		1.54			1.49				1.50			1.51				1.60			2.17				1.49
Consumer indirect lending		1.88			1.70				1.98			1.85				1.81			1.65				1.71

Provision for credit losses
Corporate lending	$	64		$	68			$	84		$	(31	)		$	11		$	(26	)		$	66
Commercial lending		1,033			48				416			294				323			144				70
Consumer indirect lending		604			257				280			135				189			162				102

Total provision for credit losses	$	1,701		$	373			$	780		$	398			$	523		$	280			$	238


Credit quality ^{(2, 3, 4)}
Utilized criticized exposure
Corporate lending	$	6,378		$	1,535			$	6,378		$	4,942			$	3,242		$	2,102			$	1,535
		5.83	%		1.99		%		5.83	%		4.98		%		3.28	%		2.44		%		1.99		%
Commercial lending	$	24,831		$	8,006			$	24,831		$	21,168			$	17,351		$	13,926			$	8,006
		9.18	%		4.23		%		9.18	%		7.98		%		6.75	%		5.40		%		4.23		%

Total utilized criticized exposure	$	31,209		$	9,541			$	31,209		$	26,110			$	20,593		$	16,028			$	9,541
		8.22	%		3.58		%		8.22	%		7.17		%		5.79	%		4.81		%		3.58		%
Nonperforming assets
Corporate lending	$	407		$	269			$	407		$	150			$	150		$	115			$	269
		0.65	%		0.62		%		0.65	%		0.28		%		0.30	%		0.24		%		0.62		%
Commercial lending	$	4,370		$	777			$	4,370		$	3,680			$	2,603		$	1,923			$	777
		1.69	%		0.39		%		1.69	%		1.42		%		1.02	%		0.78		%		0.39		%

Total nonperforming assets	$	4,777		$	1,046			$	4,777		$	3,830			$	2,753		$	2,038			$	1,046
		1.49	%		0.43		%		1.49	%		1.22		%		0.91	%		0.69		%		0.43		%
Average loans and leases by product
Commercial	$	157,149		$	117,855			$	160,648		$	157,850			$	152,914		$	150,192			$	120,357
Leases		24,376			21,745				24,574			24,287				24,264			24,246				22,051
Foreign		24,405			15,948				25,256			25,132				22,818			22,930				17,952
Real estate		58,650			34,867				59,169			58,656				58,118			55,814				36,120
Consumer		40,445			40,418				42,205			40,345				38,765			39,613				40,956
Other		1,740			2,026				1,515			1,822				1,885			1,991				1,940

Total average loans and leases	$	306,765		$	232,859			$	313,367		$	308,092			$	298,764		$	294,786			$	239,376




(1) Total corporate lending revenue	$	*874*		$	509			$	*312*		$	249			$	313		$	236			$	148
Less: Impact of credit mitigation		88			(21	)			24			(5	)			69			7				(7	)

Corporate lending revenues excluding credit mitigation	$	*786*		$	530			$	*288*		$	254			$	244		$	229			$	155

(2)

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial utilized credit exposure, including loans and leases, standby letters of credit, and financial guarantees, derivative assets, and commercial letters of credit.

(3)

Nonperforming assets are on an end-of-period basis and defined as nonperforming loans and leases plus foreclosed properties. The nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed properties.

(4)

Criticized exposure related to the fair value option portfolio is not included. There are no nonperforming assets in the fair value portfolio.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking - Capital Markets and Advisory Services Key Indicators

(Dollars in millions)


	Nine Months Ended September 30			Third Quarter 2008		Second Quarter 2008		First Quarter 2008		Fourth Quarter 2007		Third Quarter 2007
	2008		2007	Third Quarter 2008		Second Quarter 2008		First Quarter 2008		Fourth Quarter 2007		Third Quarter 2007
Investment banking income
Advisory fees	$ 180		$ 334	$ 63		$ 51		$ 66		$ 112		$ 94
Debt underwriting	1,342		1,395	378		605		359		377		281
Equity underwriting	400		231	50		110		240		88		61

Total investment banking income	1,922		1,960	491		766		665		577		436

Sales and trading revenue
Fixed income:
Liquid products	3,027		1,559	1,063		1,102		862		596		634
Credit products	(123	)	171	(151	)	683		(655	)	(383	)	(844	)
Structured products	(4,101	)	185	(1,329	)	(922	)	(1,850	)	(5,511	)	(618	)

Total fixed income	(1,197	)	1,915	(417	)	863		(1,643	)	(5,298	)	(828	)
Equity income	807		1,119	175		298		334		206		252

Total sales and trading revenue	(390	)	3,034	(242	)	1,161		(1,309	)	(5,092	)	(576	)

Total Capital Markets and Advisory Services market-based revenue⁽¹⁾	$ 1,532		$ 4,994	$ 249		$ 1,927		$ (644	)	$ (4,515	)	$ (140	)

Balance sheet (average)
Trading account securities	$187,399		$183,705	$188,218		$183,119		$190,849		$188,925		$192,844
Reverse repurchases	57,094		63,193	63,375		51,655		56,184		51,266		52,436
Securities borrowed	69,165		90,358	62,982		65,742		78,839		84,399		81,404
Derivative assets	35,043		25,796	34,643		35,537		34,953		28,282		28,611

Total trading-related assets	$348,701		$363,052	$349,218		$336,053		$360,825		$352,872		$355,295

Sales credits from secondary trading
Liquid products	1,511		1,327	510		479		522		467		507
Credit products	1,033		1,198	295		384		354		346		422
Structured products	558		628	190		202		166		133		161
Equities	733		864	192		259		282		262		277

Total sales credits	3,835		4,017	1,187		1,324		1,324		1,208		1,367

Volatility of product revenues - 1 std dev
Liquid products	$ 22.9		$ 11.5	$ 27.1		$ 22.4		$ 17.8		$ 10.4		$ 16.3
Credit products	23.1		11.4	24.7		8.8		26.5		12.0		21.8
Structured products	11.1		16.1	7.6		10.2		14.3		408.1		33.5
Equities	13.7		9.2	10.1		14.1		15.8		7.3		16.3
Total volatility	57.5		28.6	58.4		40.6		64.4		405.5		54.9

(1)

Excludes $75 million and $44 million for the nine months ended September 30, 2008 and 2007, and $23 million, $25 million, $27 million, $26 million and $22 million, respectively, for the three months ended September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, of net interest income on loans for which the fair value option has been elected and is not considered market-based income.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Corporate and Investment Banking Strategic Progress

LOGO

Source: Thomson Financial except Syndicated Loans and Leveraged Loans from Loan Pricing Corporation. Ranked based on deal size.

(1)

M&A Announced Advisor Rankings

Highlights

•

Top 5 rankings in:

Leveraged loans

Convertible debt

High-yield debt

Syndicated loans

Asset-backed securities

Mortgage-backed securities

Investment grade debt

•

Market share for convertible debt, asset-backed securities and investment grade debt for YTD 08 includes self-funded deals, market share without these deals was 11.7%, 9.1% and 10.1%, respectively.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Special Purpose Entities Liquidity Exposure

(Dollars in millions)


	September 30, 2008
	VIEs⁽¹⁾		QSPEs ⁽²⁾
	Consolidated	Unconsolidated	Unconsolidated	Total
Corporation-sponsored multi-seller conduits	$ 13,110	$ 42,440	$ —	$55,550
Municipal bond trusts and corporate SPEs	4,148	4,714	4,735	13,597
Home equity securitizations ⁽³⁾	—	—	13,315	13,315
Asset acquisition conduits	1,130	5,619	—	6,749
Customer-sponsored conduits	—	1,142	—	1,142
Collateralized debt obligation vehicles	—	1,051	—	1,051

Total liquidity exposure	$ 18,388	$ 54,966	$ 18,050	$91,404


	June 30, 2008
	VIEs⁽¹⁾		QSPEs ⁽²⁾
	Consolidated	Unconsolidated	Unconsolidated	Total
Corporation-sponsored multi-seller conduits	$ 14,214	$ 47,754	$ —	$61,968
Municipal bond trusts and corporate SPEs	4,645	4,168	5,419	14,232
Asset acquisition conduits	1,157	4,116	—	5,273
Customer-sponsored conduits	—	1,231	—	1,231
Collateralized debt obligation vehicles	—	1,077	—	1,077

Total liquidity exposure	$ 20,016	$ 58,346	$ 5,419	$83,781

(1)

Variable interest entities (VIEs) are special purpose entities (SPEs) which lack sufficient equity at risk or whose equity investors do not have a controlling financial interest. In accordance with Financial Accounting Standards Board (FASB) Interpretation No. 46 (Revised December 2003), “Consolidation of Variable Interest Entities, an interpretation of ARB No. 51” (FIN 46R), a VIE is consolidated by the party known as the primary beneficiary that will absorb the majority of the expected losses or expected residual returns of the VIEs or both. For example, an entity that holds a majority of the subordinated debt or equity securities issued by a VIE, or protects other investors from loss through a guarantee or similar arrangement, may have to consolidate the VIE. The assets and liabilities of consolidated VIEs are recorded on the Corporation’s balance sheet.

(2)

Qualifying special purposes entities (QSPEs) are SPEs whose activities are strictly limited to holding and servicing financial assets and meet the requirements set forth in SFAS No. 140, “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities – a replacement of FASB Statement No. 125” (SFAS 140). QSPEs are generally not required to be consolidated by any party. This table includes only those QSPEs to which we have liquidity exposure.

(3)

Home equity securitizations were acquired in connection with the July 1, 2008 acquisition of Countrywide Financial Corporation (Countrywide).

Certain

prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Super Senior Collateralized Debt Obligation Exposure Rollforward

(Dollars in millions)


	June 30, 2008 Net Exposure	Paydowns / Liquidations / Other		Third Quarter 2008 Net Writedowns ⁽¹⁾		September 30, 2008 Net Exposure
Super senior liquidity commitments
High grade	$ 714	$ (26)		$ —		$ 688
Mezzanine	358	—		(21	)	337
CDO-squared	—	—		—		—

Total super senior liquidity commitments	1,072	(26	)	(21	)	1,025

Other super senior exposure
High grade	3,608	(13	)	(257	)	3,338
Mezzanine	277	(14	)	(84	)	179
CDO-squared	1,804	(9	)	(363	)	1,432

Total other super senior	5,689	(36	)	(704	)	4,949

Total super senior	$ 6,761	$ (62	)	$ (725	)	$ 5,974

Purchased securities from liquidated CDOs	1,667	(57	)	(152	)	1,458

Total	$ 8,428	$ (119	)	$ (877	)	$ 7,432

(1)

Net of insurance.

Super Senior Collateralized Debt Obligation Exposure

(Dollars in millions)

Total CDO Exposure at September 30, 2008

Total CDO

Subprime Exposure ⁽¹⁾

Non-Subprime Exposure ⁽²⁾

Net Exposure

Gross

Insured

Net of
Insured
Amount

Cumulative
Writedowns ⁽³⁾

Net
Exposure

Gross

Insured

Net of
Insured
Amount

Cumulative
Writedowns ⁽³⁾

Net
Exposure

September 30
2008

June 30
2008

Super senior liquidity commitments

High grade

$ —

$ 688

$ —

$ 688

$ —

$ 688

$ 714

Mezzanine

363

—

363

(26

)

337

—

337

358

CDO-squared

—

Total super senior liquidity commitments

363

—

363

(26

)

337

688

—

688

—

688

1,025

1,072

Other super senior exposure

High grade

5,142

(3,723

)

1,419

(477

)

942

3,459

(735

)

2,724

(328

)

2,396

3,338

3,608

Mezzanine

1,006

—

1,006

(827

)

179

—

179

277

CDO-squared

5,098

—

5,098

(3,666

)

1,432

349

(349

)

—

1,432

1,804

Total other super senior

11,246

(3,723

)

7,523

(4,970

)

2,553

3,808

(1,084

)

2,724

(328

)

2,396

4,949

5,689

Total super senior

$11,609

$(3,723

)

$7,886

$ (4,996

)

$ 2,890

4,496

(1,084

)

$ 3,412

$ (328

)

$ 3,084

$ 5,974

$6,761

Purchased securities from liquidated CDOs

1,750

—

1,750

(292

)

1,458

—

1,458

1,667

Total

$13,359

$(3,723

)

$9,636

$ (5,288

)

$ 4,348

$4,496

$(1,084

)

$ 3,412

$ (328

)

$ 3,084

$ 7,432

$8,428

(1)

Classified as subprime when subprime consumer real estate loans make up at least 35 percent of the ultimate underlying collateral’s original net exposure value.

(2)

Includes highly-rated collateralized loan obligations and commercial mortgage-backed securities super senior exposure.

(3)

Net of insurance excluding losses taken on liquidated CDOs.

Certain

prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Subprime Super Senior Collateralized Debt Obligation Carrying Values ⁽¹⁾

(Dollars in millions)


	September 30, 2008
	Subprime Net Exposure	Carrying Value as a Percent of Original Net Exposure		Subprime Content of Collateral ⁽²⁾		Vintage of Subprime Collateral
	Subprime Net Exposure	Carrying Value as a Percent of Original Net Exposure		Subprime Content of Collateral ⁽²⁾		Percent in 2006/2007 Vintages		Percent in 2005/Prior Vintages
Super senior liquidity commitments
High grade	$ —	—	%	—	%	—	%	—	%
Mezzanine	337	93		42		46		54
CDO-squared	—	—		—		—		—

Total super senior liquidity commitments	337	93

Other super senior exposure
High grade	942	66		56		14		86
Mezzanine	179	18		73		69		31
CDO-squared	1,432	28		23		71		29

Total other super senior	2,553	34

Total super senior	$ 2,890	37


Purchased securities from liquidated CDOs	1,458	48		51		38		62

Total	$ 4,348	40

(1)

Classified as subprime when subprime consumer real estate loans make up at least 35 percent of the ultimate underlying collateral’s original net exposure value.

(2)

Based on current net exposure value.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Wealth and Investment Management Segment Results ^{(1, 2)}

(Dollars in millions, except as noted)


	Nine Months Ended September 30								Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
	2008				2007				Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
Net interest income ⁽³⁾	$	3,380			$	2,872			$	1,249			$	1,133			$	998			$	989			$	1,002
Noninterest income:
Investment and brokerage services		3,178				2,701				1,002				1,095				1,081				1,080				1,032
All other income (loss)		(810	)			174				(704	)			51				(157	)			(319	)			44

Total noninterest income		2,368				2,875				298				1,146				924				761				1,076

Total revenue, net of interest expense		5,748				5,747				1,547				2,279				1,922				1,750				2,078

Provision for credit losses		512				(20	)			150				119				243				34				(29	)
Noninterest expense		3,836				3,183				1,284				1,241				1,311				1,297				1,218

Income before income taxes		1,400				2,584				113				919				368				419				889
Income tax expense ⁽³⁾		529				958				46				346				137				120				331

Net income	$	871			$	1,626			$	67			$	573			$	231			$	299			$	558

Net interest yield ⁽³⁾		2.90		%		3.14		%		3.05		%		2.91		%		2.73		%		2.86		%		3.10		%
Return on average equity		9.97				23.14				2.30				19.55				8.04				10.45				20.67
Efficiency ratio ⁽³⁾		66.74				55.38				82.95				54.49				68.21				74.11				58.62

Balance sheet

Average
Total loans and leases	$	87,160			$	70,325			$	88,253			$	87,573			$	85,642			$	82,816			$	77,045
Total earning assets ⁽⁴⁾		155,491				122,263				162,859				156,419				147,115				137,144				128,148
Total assets ⁽⁴⁾		165,063				129,530				172,313				165,869				156,928				147,390				137,093
Total deposits		155,558				120,392				160,999				157,114				148,503				138,163				127,821
Allocated equity		11,674				9,391				11,677				11,774				11,570				11,345				10,700

Period end
Total loans and leases	$	88,979			$	78,324			$	88,979			$	88,171			$	87,308			$	84,600			$	78,324
Total earning assets ⁽⁴⁾		169,582				130,304				169,582				157,334				153,743				145,056				130,304
Total assets ⁽⁴⁾		179,347				138,725				179,347				167,197				163,018				155,683				138,725
Total deposits		166,273				130,534				166,273				158,228				154,175				144,865				130,534

Client assets⁽⁵⁾
Assets under management	$	564,438			$	709,955			$	564,438			$	589,459			$	607,521			$	643,531			$	709,955
Client brokerage assets ⁽⁶⁾		196,566				217,916				196,566				210,701				213,743				222,661				217,916
Assets in custody		150,575				158,756				150,575				156,530				158,486				167,575				158,756
Less: Client brokerage assets and assets in custody included in assets under management		(82,921	)			(87,386	)			(82,921	)			(89,234	)			(88,755	)			(87,071	)			(87,386	)

Total net client assets	$	828,658			$	999,241			$	828,658			$	867,456			$	890,995			$	946,696			$	999,241

(1)

Global Wealth and Investment Management services clients through three primary businesses: U.S. Trust, Bank of America Private Wealth Management (U.S. Trust), Columbia Management, and Premier Banking and Investments. In addition, ALM/Other primarily includes the results of ALM activities.

(2)

In July 2007, the operations of the acquired U.S. Trust Corporation were combined with the former Private Bank to create U.S. Trust, Bank of America Private Wealth Management. The results of the combined business were reported for periods beginning on July 1, 2007. Prior to July 1, 2007, the results solely reflect that of the former Private Bank.

(3)

Fully taxable-equivalent basis

(4)

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

(5)

In December 2007, the Corporation completed the sale of Marsico Capital Management, LLC (Marsico). Total assets under management for the third quarter of 2007 include assets under management that were managed prior to the sale of Marsico of $59.5 billion (including $5.3 billion in eliminations). Prior period Marsico business results have been transferred to All Other to better facilitate period-over-period comparisons.

(6)

Client brokerage assets include non-discretionary brokerage and fee-based assets.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Wealth and Investment Management Business Results

(Dollars in millions)


	Three Months Ended September 30, 2008
	Total			U.S. Trust ⁽¹⁾			Columbia Management			Premier Banking and Investments ⁽²⁾			ALM/ Other
Net interest income ⁽³⁾	$ 1,249			$ 314			$ 1			$ 534			$ 400
Noninterest income:
Investment and brokerage services	1,002			327			394			242			39
All other income (loss)	(704	)		(12	)		(635	)		(57	)		—

Total noninterest income	298			315			(241	)		185			39

Total revenue, net of interest expense	1,547			629			(240	)		719			439

Provision for credit losses	150			15			—			135			—
Noninterest expense	1,284			486			322			438			38

Income (loss) before income taxes	113			128			(562	)		146			401
Income tax expense (benefit)⁽³⁾	46			47			(208	)		54			153

Net income (loss)	$ 67			$ 81			$ (354	)		$ 92			$ 248

Net interest yield ⁽³⁾	3.05		%	2.35		%	n/m			1.71		%	n/m
Return on average equity	2.30			6.85			n/m			19.48			n/m
Efficiency ratio ⁽³⁾	82.95			77.19			n/m			60.89			n/m
Average - total loans and leases	$ 88,253			$ 53,174			n/m			$ 35,077			n/m
Average - total deposits	160,999			37,446			n/m			123,524			n/m
Period end - total assets ⁽⁴⁾	179,347			57,601			$ 3,084			128,242			n/m

	Three Months Ended June 30, 2008
	Total			U.S. Trust ⁽¹⁾			Columbia Management			Premier Banking and Investments ⁽²⁾			ALM/ Other
Net interest income ⁽³⁾	$ 1,133			$ 304			$ (4	)		$ 536			$ 297
Noninterest income:
Investment and brokerage services	1,095			387			403			263			42
All other income (loss)	51			15			(34	)		66			4

Total noninterest income	1,146			402			369			329			46

Total revenue, net of interest expense	2,279			706			365			865			343

Provision for credit losses	119			6			—			113			—
Noninterest expense	1,241			458			302			452			29

Income before income taxes	919			242			63			300			314
Income tax expense ⁽³⁾	346			90			24			111			121

Net income	$ 573			$ 152			$ 39			$ 189			$ 193

Net interest yield ⁽³⁾	2.91		%	2.40		%	n/m			1.79		%	n/m
Return on average equity	19.55			12.94			23.30		%	39.01			n/m
Efficiency ratio ⁽³⁾	54.49			64.83			82.80			52.32			n/m
Average - total loans and leases	$ 87,573			$ 51,051			n/m			$ 36,507			n/m
Average - total deposits	157,114			36,452			n/m			120,339			n/m
Period end - total assets ⁽⁴⁾	167,197			56,560			$ 2,819			123,359			n/m

	Three Months Ended September 30, 2007
	Total			U.S. Trust ⁽¹⁾			Columbia Management			Premier Banking and Investments ⁽²⁾			ALM/ Other
Net interest income ⁽³⁾	$ 1,002			$ 289			$ 3			$ 679			$ 31
Noninterest income:
Investment and brokerage services	1,032			364			379			243			46
All other income (loss)	44			15			(6	)		34			1

Total noninterest income	1,076			379			373			277			47

Total revenue, net of interest expense	2,078			668			376			956			78

Provision for credit losses	(29	)		(34	)		—			5			—
Noninterest expense	1,218			480			266			430			42

Income before income taxes	889			222			110			521			36
Income tax expense ⁽³⁾	331			82			41			193			15

Net income	$ 558			$ 140			$ 69			$ 328			$ 21

Net interest yield ⁽³⁾	3.10		%	2.76		%	n/m		%	2.74		%	n/m
Return on average equity	20.67			14.70			53.23			81.06			n/m
Efficiency ratio ⁽³⁾	58.62			71.91			70.82			45.05			n/m
Average - total loans and leases	$ 77,045			$ 41,522			n/m			$ 35,482			n/m
Average - total deposits	127,821			28,649			n/m			98,341			n/m
Period end - total assets ⁽⁴⁾	138,725			46,034			$ 1,407			102,180			n/m

(1)

In July 2007, the operations of the acquired U.S. Trust Corporation were combined with the former Private Bank to create U.S. Trust, Bank of America Private Wealth Management.

The results of the combined business were reported for periods beginning on July 1, 2007. Prior to July 1, 2007, the results solely reflect that of the former Private Bank.

(2)

For the three months ended September 30, 2008, June 30, 2008 and September 30, 2007, a total of $3.3 billion, $5.6 billion and $2.6 billion of deposits were migrated to Global Wealth and Investment Management from Global Consumer and Small Business Banking.

(3)

Fully taxable-equivalent basis

(4)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain

prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Wealth and Investment Management Business Results

(Dollars in millions)


	Nine Months Ended September 30, 2008
	Total			U.S. Trust ⁽¹⁾			Columbia Management			Premier Banking and Investments ⁽²⁾		ALM/ Other
Net interest income ⁽³⁾	$ 3,380			$ 896			$ (2	)		$ 1,605		$ 881
Noninterest income:
Investment and brokerage services	3,178			1,093			1,195			763		127
All other income (loss)	(810	)		21			(890	)		57		2

Total noninterest income	2,368			1,114			305			820		129

Total revenue, net of interest expense	5,748			2,010			303			2,425		1,010

Provision for credit losses	512			25			—			487		—
Noninterest expense	3,836			1,447			930			1,330		129

Income (loss) before income taxes	1,400			538			(627	)		608		881
Income tax expense (benefit)⁽³⁾	529			199			(232	)		225		337

Net income (loss)	$ 871			$ 339			$ (395	)		$ 383		$ 544


Net interest yield ⁽³⁾	2.90		%	2.36		%	n/m			1.80	%	n/m
Return on average equity	9.97			9.82			(78.01	)		26.51		n/m
Efficiency ratio ⁽³⁾	66.74			71.98			n/m			54.82		n/m
Average - total loans and leases	$87,160			$ 50,727			n/m			$ 36,416		n/m
Average - total deposits	155,558			36,182			n/m			119,088		n/m
Period end - total assets ⁽⁴⁾	179,347			57,601			$ 3,084			128,242		n/m

	Nine Months Ended September 30, 2007
	Total			U.S. Trust ⁽¹⁾			Columbia Management			Premier Banking and Investments ⁽²⁾		ALM/ Other
Net interest income ⁽³⁾	$ 2,872			$ 738			$ 4			$ 2,009		$ 121
Noninterest income:
Investment and brokerage services	2,701			843			1,034			704		120
All other income	174			39			19			104		12

Total noninterest income	2,875			882			1,053			808		132

Total revenue, net of interest expense	5,747			1,620			1,057			2,817		253

Provision for credit losses	(20	)		(25	)		—			5		—
Noninterest expense	3,183			1,097			745			1,264		77

Income before income taxes	2,584			548			312			1,548		176
Income tax expense ⁽³⁾	958			203			115			573		67

Net income	$ 1,626			$ 345			$ 197			$ 975		$ 109


Net interest yield ⁽³⁾	3.14		%	2.74		%	n/m			2.80	%	n/m
Return on average equity	23.14			20.61			53.93		%	81.05		n/m
Efficiency ratio ⁽³⁾	55.38			67.74			70.44			44.88		n/m
Average - total loans and leases	$70,325			$ 35,999			n/m			$ 34,302		n/m
Average - total deposits	120,392			24,024			n/m			96,065		n/m
Period end - total assets ⁽⁴⁾	138,725			46,034			$ 1,407			102,180		n/m

(1)

In July 2007, the operations of the acquired U.S. Trust Corporation were combined with the former Private Bank to create U.S. Trust, Bank of America Private Wealth Management.

The results of the combined business were reported for periods beginning on July 1, 2007. Prior to July 1, 2007, the results solely reflect that of the former Private Bank.

(2)

For the nine months ended September 30, 2008 and 2007, a total of $15.9 billion and $9.0 billion of deposits were migrated to Global Wealth and Investment Management from Global Consumer and Small Business Banking.

(3)

Fully taxable-equivalent basis

(4)

Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Global Wealth and Investment Management - Key Indicators

(Dollars in millions, except as noted)


	Nine Months Ended September 30								Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
	2008				2007				Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
Investment and Brokerage Services

U.S. Trust ⁽¹⁾
Asset management fees	$	1,058			$	822			$	316			$	374			$	368			$	378			$	356
Brokerage income		35				21				11				13				11				8				8

Total	$	1,093			$	843			$	327			$	387			$	379			$	386			$	364


Columbia Management
Asset management fees	$	1,193			$	1,030			$	394			$	402			$	397			$	401			$	378
Brokerage income		2				4				—				1				1				—				1

Total	$	1,195			$	1,034			$	394			$	403			$	398			$	401			$	379


Premier Banking and Investments
Asset management fees	$	257			$	220			$	85			$	84			$	88			$	81			$	81
Brokerage income		506				484				157				179				170				165				162

Total	$	763			$	704			$	242			$	263			$	258			$	246			$	243


ALM/Other
Asset management fees	$	127			$	120			$	39			$	42			$	46			$	47			$	46
Brokerage income		—				—				—				—				—				—				—

Total	$	127			$	120			$	39			$	42			$	46			$	47			$	46


Total Global Wealth and Investment Management
Asset management fees	$	2,635			$	2,192			$	834			$	902			$	899			$	907			$	861
Brokerage income		543				509				168				193				182				173				171

Total investment and brokerage services	$	3,178			$	2,701			$	1,002			$	1,095			$	1,081			$	1,080			$	1,032


Assets Under Management ^{(2, 3)}

Assets under management by business:
U.S. Trust ⁽¹⁾	$	199,682			$	225,297			$	199,682			$	210,969			$	214,526			$	225,209			$	225,297
Columbia Management		407,345				511,996				407,345				422,827				409,064				439,053				511,996
Retirement and GWIM Client Solutions		39,547				44,512				39,547				45,907				48,655				42,814				44,512
Premier Banking and Investments		20,246				21,392				20,246				22,404				21,600				22,915				21,392
Eliminations ⁽⁴⁾		(102,621	)			(94,255	)			(102,621	)			(113,001	)			(86,760	)			(87,085	)			(94,255	)
International Wealth Management		239				1,013				239				353				436				625				1,013

Total assets under management	$	564,438			$	709,955			$	564,438			$	589,459			$	607,521			$	643,531			$	709,955


Assets under management rollforward:
Beginning balance	$	643,531			$	542,977			$	589,459			$	607,521			$	643,531			$	709,955			$	566,267
Net flows		(11,399	)			27,497				7,477				(12,611	)			(6,265	)			(2,226	)			18,066
Market valuation/other		(67,694	)			139,481				(32,498	)			(5,451	)			(29,745	)			(64,198	)			125,622

Ending balance	$	564,438			$	709,955			$	564,438			$	589,459			$	607,521			$	643,531			$	709,955


Assets under management mix:
Money market/other	$	238,075			$	246,748			$	238,075			$	225,887			$	242,956			$	246,213			$	246,748
Fixed income		102,596				109,117				102,596				107,687				107,365				111,217				109,117
Equity		223,767				354,090				223,767				255,885				257,200				286,101				354,090

Total assets under management	$	564,438			$	709,955			$	564,438			$	589,459			$	607,521			$	643,531			$	709,955


Client Brokerage Assets	$	196,566			$	217,916			$	196,566			$	210,701			$	213,743			$	222,661			$	217,916

Premier Banking and Investments Metrics

Client facing associates
Number of client managers		2,492				2,505				2,492				2,538				2,572				2,548				2,505
Number of financial advisors		1,964				1,847				1,964				1,974				1,952				1,950				1,847
All other		1,105				1,020				1,105				1,086				1,157				1,079				1,020

Total client facing associates		5,561				5,372				5,561				5,598				5,681				5,577				5,372


Financial Advisor Productivity ⁽⁵⁾ (in thousands)	$	348			$	332			$	109			$	121			$	118			$	113			$	116

Total client balances ⁽⁶⁾	$	301,093			$	299,275			$	301,093			$	308,174			$	309,687			$	309,190			$	299,275

Number of Households with Banking and Brokerage Relationships (in thousands)		292				267				292				288				283				277				267

U.S. Trust Metrics⁽¹⁾

Client facing associates		3,747				3,776				3,747				3,882				3,922				3,989				3,776
Total client balances ⁽⁶⁾	$	344,004			$	360,864			$	344,004			$	357,575			$	362,425			$	380,687			$	360,864

Columbia Management Performance Metrics

# of 4 or 5 Star Funds by Morningstar		53				47				53				50				50				48				47

% of Assets Under Management in 4 or 5 Star Rated Funds ⁽⁷⁾		64		%		55		%		64		%		64		%		69		%		68		%		55		%

(1)

(2)

The acquisition of LaSalle Bank Corporation contributed $7.5 billion to assets under management in fourth quarter 2007. The acquisition of U.S. Trust Corporation contributed $115.6 billion to assets under management in third quarter 2007. The sale of Marsico resulted in a $60.9 billion decrease in assets under management in fourth quarter 2007 (including a $5.3 billion reduction in eliminations).

(3)

In December 2007, the Corporation completed the sale of Marsico. Total assets under management for the third quarter of 2007 include assets under management that were managed prior to the sale of Marsico of $59.5 billion (including $5.3 billion in eliminations). Prior period Marsico business results have been transferred to All Other to better facilitate period-over-period comparisons.

(4)

The elimination of assets under management that are managed by two lines of business.

(5)

Financial advisor productivity is defined as full service gross production divided by average number of total financial advisors.

(6)

Client balances are defined as deposits, assets under management, client brokerage assets and other assets in custody.

(7)

Results shown are defined by Columbia Management’s calculation using Morningstar’s Overall Rating criteria for 4 & 5 star rating. The assets under management of the Columbia Funds that had a 4 & 5 star rating were totaled then divided by the assets under management of all the funds in the ranking.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

All Other Results ⁽¹⁾

(Dollars in millions)


	Nine Months Ended September 30						Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
	2008			2007			Third Quarter 2008			Second Quarter 2008			First Quarter 2008			Fourth Quarter 2007			Third Quarter 2007
Net interest income ⁽²⁾	$	(6,408	)	$	(5,584	)	$	(2,391	)	$	(2,036	)	$	(1,981	)	$	(2,035	)	$	(1,980	)
Noninterest income:
Card income		1,796			2,137			537			595			664			680			739
Equity investment income (loss)		652			3,467			(326	)		710			268			278			852
Gains (losses) on sales of debt securities		349			70			(2	)		131			220			110			7
All other income (loss)		(289	)		(325	)		68			(100	)		(257	)		751			(218	)

Total noninterest income		2,508			5,349			277			1,336			895			1,819			1,380

Total revenue, net of interest expense		(3,900	)		(235	)		(2,114	)		(700	)		(1,086	)		(216	)		(600	)
Provision for credit losses ⁽³⁾		(3,542	)		(3,915	)		(1,134	)		(1,195	)		(1,213	)		(1,294	)		(1,290	)
Merger and restructuring charges		629			270			247			212			170			140			84
All other noninterest expense		145			123			(53	)		50			148			(58	)		(410	)

Income (loss) before income taxes		(1,132	)		3,287			(1,174	)		233			(191	)		996			1,016
Income tax expense (benefit) ⁽²⁾		(492	)		959			(517	)		(24	)		49			142			279

Net income (loss)	$	(640	)	$	2,328		$	(657	)	$	257		$	(240	)	$	854		$	737


Balance sheet

Average
Total loans and leases	$	103,592		$	98,815		$	122,794		$	86,899		$	100,874		$	105,514		$	103,503
Total earning assets		286,697			215,076			320,163			263,703			270,788			272,365			232,709
Total assets		361,495			268,665			402,795			336,036			340,108			341,056			284,187
Total deposits		57,047			33,992			61,838			51,039			58,209			64,806			34,663

Period end
Total loans and leases	$	121,833		$	101,278		$	121,833		$	71,639		$	95,124		$	106,694		$	101,278
Total earning assets		295,667			239,338			295,667			256,267			253,007			261,902			239,338
Total assets		392,181			297,838			392,181			339,733			339,759			336,659			297,838
Total deposits		63,352			35,335			63,352			56,619			57,616			67,162			35,335

(1)

All Other consists of equity investment activities including Principal Investing, Corporate Investments and Strategic Investments, the residual impact of the allowance for credit losses and the cost allocation processes, merger and restructuring charges, intersegment eliminations, and the results of certain businesses that are expected to be or have been sold or are in the process of being liquidated. All Other also includes certain amounts associated with ALM activities, including the residual impact of funds transfer pricing allocation methodologies, amounts associated with the change in the value of derivatives used as economic hedges of interest rate and foreign exchange rate fluctuations that do not qualify for SFAS No. 133 “Accounting for Derivative instruments and Hedging Activities, as amended” hedge accounting treatment, foreign exchange rate fluctuations related to SFAS No. 52, “Foreign Currency Translation” revaluation of foreign-denominated debt issuances, certain gains (losses) on sales of whole mortgage loans, and gains (losses) on sales of debt securities. All Other also includes adjustments to noninterest income and income tax expense to remove the FTE impact of items (primarily low-income housing tax credits) that have been grossed up within noninterest income to a FTE amount in the business segments. In addition, All Other includes the offsetting securitization impact to present Global Consumer and Small Business Banking on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - All Other - Reconciliation on page 47).

(2)

Fully taxable-equivalent basis

(3)

Provision for credit losses represents provision for credit losses in All Other combined with the Global Consumer and Small Business Banking securitization offset.

Components of Equity Investment Income

(Dollars in millions)


	Nine Months Ended September 30					Third Quarter 2008			Second Quarter 2008			First Quarter 2008		Fourth Quarter 2007			Third Quarter 2007
	2008			2007		Third Quarter 2008			Second Quarter 2008			First Quarter 2008		Fourth Quarter 2007			Third Quarter 2007
Principal Investing	$	279		$	2,100	$	(29	)	$	296		$	12	$	117		$	275
Corporate Investments		(225	)		452		(369	)		112			32		(7	)		112
Strategic and other investments		598			915		72			302			224		168			465

Total equity investment income included in All Other		652			3,467		(326	)		710			268		278			852
Total equity investment income included in the business segments		678			280		10			(118	)		786		39			52

Total consolidated equity investment income	$	1,330		$	3,747	$	(316	)	$	592		$	1,054	$	317		$	904

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Outstanding Loans and Leases

(Dollars in millions)


	September 30 2008	June 30 2008	Increase (Decrease)
Consumer
Residential mortgage	$ 256,989	$ 235,472	$ 21,517
Home equity	151,938	121,409	30,529
Discontinued real estate ⁽¹⁾	22,081	—	22,081
Credit card - domestic	63,012	62,081	931
Credit card - foreign	18,338	16,561	1,777
Direct/Indirect consumer⁽²⁾	82,849	84,907	(2,058	)
Other consumer ⁽³⁾	3,680	3,859	(179	)

Total consumer	598,887	524,289	74,598

Commercial
Commercial - domestic ⁽⁴⁾	219,303	220,610	(1,307	)
Commercial real estate ⁽⁵⁾	63,736	62,897	839
Commercial lease financing	22,416	22,815	(399	)
Commercial - foreign	32,951	34,839	(1,888	)

Total commercial loans excluding loans measured at fair value	338,406	341,161	(2,755	)
Commercial loans measured at fair value ⁽⁶⁾	5,383	5,014	369

Total commercial	343,789	346,175	(2,386	)

Total loans and leases	$ 942,676	$ 870,464	$ 72,212

(1)

At September 30, 2008, includes $20.1 billion of pay option loans and $1.9 billion of subprime mortgage and home equity loans acquired in connection with the acquisition of Countrywide which the Corporation will no longer originate such types of loans.

(2)

Includes foreign consumer loans of $2.4 billion and $2.9 billion at September 30, 2008 and June 30, 2008.

(3)

Includes consumer finance loans of $2.7 billion and $2.8 billion, and other foreign consumer loans of $736 million and $839 million at September 30, 2008 and June 30, 2008.

(4)

Includes small business commercial - domestic loans, primarily card related, of $19.4 billion and $19.9 billion at September 30, 2008 and June 30, 2008.

(5)

Includes domestic commercial real estate loans of $62.7 billion and $61.8 billion, and foreign commercial real estate loans of $1.0 billion and $1.1 billion at September 30, 2008 and June 30, 2008.

(6)

Certain commercial loans are measured at fair value in accordance with SFAS 159 and include commercial - domestic loans of $4.0 billion and $3.5 billion, commercial - foreign loans of $1.2 billion and $1.3 billion, and commercial real estate loans of $213 million and $176 million at September 30, 2008 and June 30, 2008.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Quarterly Average Loans and Leases by Business Segment

(Dollars in millions)


	Third Quarter 2008
	Total Corporation	Global Consumer and Small Business Banking ⁽¹⁾	Global Corporate and Investment Banking	Global Wealth and Investment Management	All Other ⁽¹⁾
Consumer
Residential mortgage	$260,748	$ 24,847	$ 616	$35,050	$200,235
Home equity	151,142	119,736	887	23,644	6,875
Discontinued real estate	22,031	—	—	—	22,031
Credit card - domestic	63,414	153,037	—	—	(89,623	)
Credit card - foreign	17,075	33,372	—	—	(16,297	)
Direct/Indirect consumer	85,392	38,860	42,205	5,012	(685	)
Other consumer	3,723	1,096	18	18	2,591

Total consumer	603,525	370,948	43,726	63,724	125,127

Commercial
Commercial - domestic	224,117	20,504	181,204	22,707	(298	)
Commercial real estate	63,220	355	61,139	1,740	(14	)
Commercial lease financing	22,585	—	24,608	—	(2,023	)
Commercial - foreign	33,467	1,566	31,817	82	2

Total commercial	343,389	22,425	298,768	24,529	(2,333	)

Total loans and leases	$946,914	$393,373	$342,494	$88,253	$122,794


	Second Quarter 2008
	Total Corporation	Global Consumer and Small Business Banking ⁽¹⁾	Global Corporate and Investment Banking	Global Wealth and Investment Management	All Other ⁽¹⁾
Consumer
Residential mortgage	$256,164	$ 30,454	$ 621	$35,469	$189,620
Home equity	120,265	90,767	892	23,250	5,356
Discontinued real estate	—	—	—	—	—
Credit card - domestic	61,655	152,613	—	—	(90,958	)
Credit card - foreign	16,566	33,045	—	—	(16,479	)
Direct/Indirect consumer	82,593	37,812	40,344	5,255	(818	)
Other consumer	3,953	1,060	20	30	2,843

Total consumer	541,196	345,751	41,877	64,004	89,564

Commercial
Commercial - domestic	219,537	20,026	178,153	21,923	(565	)
Commercial real estate	62,810	462	60,812	1,564	(28	)
Commercial lease financing	22,276	—	24,368	—	(2,092	)
Commercial - foreign	32,820	1,600	31,118	82	20

Total commercial	337,443	22,088	294,451	23,569	(2,665	)

Total loans and leases	$878,639	$367,839	$336,328	$87,573	$ 86,899


	Third Quarter 2007
	Total Corporation	Global Consumer and Small Business Banking ⁽¹⁾	Global Corporate and Investment Banking	Global Wealth and Investment Management	All Other ⁽¹⁾
Consumer
Residential mortgage	$274,385	$ 36,072	$ 1,084	$31,347	$205,882
Home equity	98,611	72,381	951	21,709	3,570
Discontinued real estate	—	—	—	—	—
Credit card - domestic	57,491	142,370	—	—	(84,879	)
Credit card - foreign	11,995	29,633	—	—	(17,638	)
Direct/Indirect consumer	72,978	30,986	40,955	4,816	(3,779	)
Other consumer	4,322	1,070	16	21	3,215

Total consumer	519,782	312,512	43,006	57,893	106,371

Commercial
Commercial - domestic	176,554	17,700	141,718	18,012	(876	)
Commercial real estate	38,977	103	37,808	1,044	22
Commercial lease financing	20,044	—	22,169	—	(2,125	)
Commercial - foreign	25,159	1,359	23,593	96	111

Total commercial	260,734	19,162	225,288	19,152	(2,868	)

Total loans and leases	$780,516	$331,674	$268,294	$77,045	$103,503

(1)

Global Consumer and Small Business Banking, specifically Card Services, is presented on a managed basis with a corresponding offset recorded in All Other.

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Commercial Credit Exposure by Industry ^{(1, 2, 3)}

(Dollars in millions)


	Commercial Utilized				Total Commercial Committed
	September 30 2008	June 30 2008	Increase (Decrease)		September 30 2008		June 30 2008		Increase (Decrease)
Real estate⁽⁴⁾	$ 77,955	$ 77,070	$ 885		$105,287		$106,265		$ (978	)
Diversified financials	49,917	44,603	5,314		99,909		95,325		4,584
Government and public education	35,716	34,620	1,096		55,841		56,727		(886	)
Capital goods	27,904	29,764	(1,860	)	53,006		55,730		(2,724	)
Retailing	32,372	32,223	149		52,332		52,982		(650	)
Healthcare equipment and services	27,479	26,938	541		44,189		44,027		162
Consumer services	27,469	27,729	(260	)	42,967		43,415		(448	)
Materials	22,139	23,026	(887	)	37,529		38,508		(979	)
Individuals and trusts	24,071	23,661	410		34,067		34,467		(400	)
Commercial services and supplies	21,698	22,874	(1,176	)	31,773		32,878		(1,105	)
Banks	25,636	23,845	1,791		30,699		35,349		(4,650	)
Food, beverage and tobacco	14,899	15,727	(828	)	28,624		27,087		1,537
Energy	12,226	15,628	(3,402	)	23,557		27,790		(4,233	)
Media	8,690	8,105	585		19,966		20,166		(200	)
Utilities	7,549	7,205	344		18,998		19,432		(434	)
Transportation	12,569	12,667	(98	)	18,258		18,462		(204	)
Insurance	9,377	9,571	(194	)	16,924		17,752		(828	)
Religious and social organizations	9,020	8,717	303		12,191		11,944		247
Technology hardware and equipment	3,889	4,384	(495	)	10,871		10,827		44
Consumer durables and apparel	6,100	6,669	(569	)	10,798		11,626		(828	)
Software and services	4,268	4,724	(456	)	10,130		9,795		335
Pharmaceuticals and biotechnology	3,326	4,164	(838	)	9,336		10,226		(890	)
Telecommunication services	3,851	4,394	(543	)	8,214		9,305		(1,091	)
Food and staples retailing	3,934	4,010	(76	)	6,504		6,577		(73	)
Automobiles and components	2,788	2,744	44		5,726		6,253		(527	)
Household and personal products	1,168	1,020	148		2,935		2,891		44
Semiconductors and semiconductor equipment	1,036	1,180	(144	)	1,782		1,920		(138	)
Other	7,399	7,224	175		7,975		7,892		83

Total commercial credit exposure by industry	$484,445	$484,486	$ (41	)	$800,388		$815,618		$(15,230	)
Net credit default protection purchased on total commitments ⁽⁵⁾					$ (8,914	)	$ (9,302	)

(1)

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $18.1 billion and $16.5 billion at September 30, 2008 and June 30, 2008. In addition to cash collateral, derivative assets are also collateralized by $4.0 billion and $5.9 billion of primarily other marketable securities at September 30, 2008 and June 30, 2008 for which the credit risk has not been reduced.

(2)

Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value in accordance with SFAS 159 and are comprised of loans outstanding of $5.4 billion and $5.0 billion and issued letters of credit at notional value of $1.3 billion and $1.4 billion at September 30, 2008 and June 30, 2008. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $16.0 billion and $17.3 billion at September 30, 2008 and June 30, 2008.

(3)

Includes small business commercial - domestic exposure.

(4)

Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based upon the borrowers’ or counterparties’ primary business activity using operating cash flow and primary source of repayment as key factors.

(5)

Represents net notional credit protection purchased.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Net Credit Default Protection by Maturity Profile⁽¹⁾


	September 30 2008			June 30 2008
Less than or equal to one year	(4	)	%	(3	)	%
Greater than one year and less than or equal to five years	94			87
Greater than five years	10			16
Total net credit default protection	100		%	100		%

(1)

In order to mitigate the cost of purchasing ideal levels of credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown as positive percentages and the distribution of maturities for net credit protection sold as negative percentages.

Net Credit Default Protection by Credit Exposure Debt Rating ⁽¹⁾

(Dollars in millions)


	September 30, 2008					June 30, 2008
Ratings	Net Notional		Percent			Net Notional		Percent
AAA	$ 48		(0.5	)	%	$ 4		—		%
AA	(51	)	0.6			(66	)	0.7
A	(3,269	)	36.7			(3,687	)	39.6
BBB	(4,186	)	47.0			(4,413	)	47.5
BB	(1,368	)	15.3			(1,388	)	14.9
B	(194	)	2.2			(175	)	1.9
CCC and below	(55	)	0.6			(85	)	0.9
NR⁽²⁾	161		(1.9	)		508		(5.5	)
Total net credit default protection	$(8,914	)	100.0		%	$(9,302	)	100.0		%

(1)

In order to mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of debt rating for net notional credit default protection purchased is shown as a negative and the net notional credit protection sold is shown as a positive amount.

(2)

In addition to unrated names, “NR” includes $200 million and $550 million in net credit default swap index positions at September 30, 2008 and at June 30, 2008. While index positions are principally investment grade, credit default swaps indices include names in and across each of the ratings categories.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Selected Emerging Markets ⁽¹⁾

(Dollars in millions)


	Loans and Leases, and Loan Commitments	Other Financing⁽²⁾	Derivative Assets ⁽³⁾	Securities/ Other Investments⁽⁴⁾	Total Cross–border Exposure ⁽⁵⁾	Local Country Exposure Net of Local Liabilities ⁽⁶⁾	Total Emerging Markets Exposure September 30, 2008	Increase (Decrease) from June 30, 2008
Region/Country
Asia Pacific
China ⁽⁷⁾	$ 304	$ 410	$ 508	$14,723	$15,945	$ 1	$15,946	$(1,014	)
South Korea	359	1,342	1,607	1,648	4,956	—	4,956	(128	)
India	1,797	835	806	1,107	4,545	—	4,545	318
Singapore	417	81	381	296	1,175	—	1,175	115
Taiwan	318	34	110	143	605	378	983	(506	)
Hong Kong	434	55	44	87	620	—	620	(91	)
Other Asia Pacific ⁽⁸⁾	166	137	35	350	688	—	688	63
Total Asia Pacific	3,795	2,894	3,491	18,354	28,534	379	28,913	(1,243	)
Latin America
Brazil ⁽⁹⁾	874	220	20	3,713	4,827	208	5,035	(833	)
Mexico ⁽¹⁰⁾	1,422	315	36	3,116	4,889	95	4,984	(107	)
Chile	577	45	15	12	649	6	655	53
Other Latin America ⁽⁸⁾	316	267	12	126	721	135	856	35
Total Latin America	3,189	847	83	6,967	11,086	444	11,530	(852	)
Middle East and Africa
Bahrain	297	7	20	907	1,231	—	1,231	738
Other Middle East and Africa ⁽⁸⁾	787	181	247	92	1,307	—	1,307	(7	)
Total Middle East and Africa	1,084	188	267	999	2,538	—	2,538	731
Central and Eastern Europe ⁽⁸⁾	58	190	103	88	439	—	439	113
Total emerging market exposure	$8,126	$4,119	$3,944	$26,408	$42,597	$823	$43,420	$(1,251	)

(1)

There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Middle East and Africa; and all countries in Central and Eastern Europe excluding Greece. There was no emerging market exposure included in the portfolio measured at fair value in accordance with SFAS 159 at September 30, 2008 and June 30, 2008.

(2)

Includes acceptances, standby letters of credit, commercial letters of credit and formal guarantees.

(3)

Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $89 million and $77 million at September 30, 2008 and June 30, 2008. At September 30, 2008 and June 30, 2008, there were $334 million and $98 million of other marketable securities collateralizing derivative assets for which credit risk has not been reduced.

(4)

Generally, cross-border resale agreements are presented based on the domicile of the counterparty, consistent with Federal Financial Institutions Examination Council (FFIEC) reporting rules. Cross- border resale agreements where the underlying securities are U.S. Treasury securities, in which case the domicile is the U.S., are excluded from this presentation.

(5)

Cross-border exposure includes amounts payable to the Corporation by borrowers or counterparties with a country of residence other than the one in which the credit is booked, regardless of the currency in which the claim is denominated, consistent with FFIEC reporting rules.

(6)

Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked, regardless of the currency in which the claim is denominated. Local funding or liabilities are subtracted from local exposures as allowed by the FFIEC. Total amount of available local liabilities funding local country exposure at September 30, 2008 was $17.6 billion compared to $16.9 billion at June 30, 2008. Local liabilities at September 30, 2008 in Asia Pacific and Latin America were $17.1 billion and $508 million, of which $6.6 billion were in Hong Kong, $5.0 billion in Singapore, $2.1 billion in South Korea, $1.1 billion in India, $1.0 billion in China, and $586 million in Taiwan. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

(7)

Securities/Other Investments include an investment of $14.5 billion in China Construction Bank (CCB).

(8)

No country included in Other Asia Pacific, Other Latin America, Other Middle East and Africa, or Central and Eastern Europe had total foreign exposure of more than $500 million.

(9)

Securities/Other Investments include an investment of $3.6 billion in Banco Itaú Holding Financeira S.A.

(10)

Securities/Other Investments include an investment of $2.9 billion in Grupo Financiero Santander, S.A.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Nonperforming Assets

(Dollars in millions)


	September 30 2008		June 30 2008		March 31 2008		December 31 2007		September 30 2007
Residential mortgage	$ 4,638		$ 3,269		$ 2,576		$ 1,999		$ 1,176
Home equity	2,049		1,851		1,786		1,340		764
Discontinued real estate	33		—		—		—		—
Direct/Indirect consumer	13		11		6		8		6
Other consumer	89		89		91		95		94

Total consumer	6,822		5,220		4,459		3,442		2,040

Commercial - domestic ⁽¹⁾	1,566		1,079		980		852		638
Commercial real estate	3,090		2,616		1,627		1,099		352
Commercial lease financing	35		40		44		33		29
Commercial - foreign	48		48		54		19		16

	4,739		3,783		2,705		2,003		1,035
Small business commercial - domestic	183		153		169		152		105

Total commercial	4,922		3,936		2,874		2,155		1,140

Total nonperforming loans and leases	11,744		9,156		7,333		5,597		3,180
Foreclosed properties	1,832		593		494		351		192

Total nonperforming assets ^{(2, 3, 4, 5)}	$13,576		$ 9,749		$ 7,827		$ 5,948		$ 3,372


Loans past due 90 days or more and still accruing ^{(2, 4, 6)}	$4,819		$ 4,548		$ 4,160		$3,736		$ 2,955
Nonperforming assets/Total assets ^{(5, 7)}	0.74	%	0.57	%	0.45	%	0.35	%	0.21	%
Nonperforming assets/Total loans, leases and foreclosed properties^{(5, 7)}	1.45		1.13		0.90		0.68		0.43
Nonperforming loans and leases/Total loans and leases outstanding ⁽⁷⁾	1.25		1.06		0.84		0.64		0.40
Allowance for credit losses:
Allowance for loan and lease losses	$20,346		$17,130		$14,891		$11,588		$ 9,535
Reserve for unfunded lending commitments	427		507		507		518		392

Total allowance for credit losses	$20,773		$17,637		$15,398		$12,106		$ 9,927

Allowance for loan and lease losses/Total loans and leases outstanding⁽⁷⁾	2.17	%	1.98	%	1.71	%	1.33	%	1.21	%
Allowance for loan and lease losses/Total nonperforming loans and leases⁽⁷⁾	173		187		203		207		300

Commercial utilized criticized exposure ⁽⁸⁾	$33,837		$28,322		$22,720		$17,544		$10,803
Commercial utilized criticized exposure/Commercial utilized exposure ⁽⁸⁾	7.32	%	6.16	%	5.16	%	4.18	%	3.06	%

(1)

Excludes small business commercial - domestic loans.

(2)

Balances do not include loans accounted for in accordance with SOP 03-3 even though the customer may be contractually past due. Loans accounted for in accordance with SOP 03-3 were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.

(3)

Balances do not include nonperforming loans held-for-sale included in other assets of $848 million, $388 million, $327 million, $188 million and $93 million at September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, respectively.

(4)

Balances do not include loans measured at fair value in accordance with SFAS 159. At September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, there were no nonperforming loans measured at fair value in accordance with SFAS 159. At June 30, 2008, there were $81 million of loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159. At September 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, there were no loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159.

(5)

Balances and ratios do not include nonperforming available-for-sale debt securities of $436 million, $676 million, $789 million, $180 million and $24 million at September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, respectively. Including nonperforming available-for-sale debt securities, nonperforming assets as a percentage of total assets would have been 0.77 percent, 0.61 percent, 0.50 percent, 0.36 percent and 0.22 percent at September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, respectively.

(6)

Balances do not include loans held-for-sale past due 90 days or more and still accruing interest included in other assets of $138 million, $32 million, $69 million, $79 million and $8 million at September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, respectively.

(7)

Ratios do not include loans measured at fair value in accordance with SFAS 159 of $5.4 billion, $5.0 billion, $5.1 billion, $4.6 billion and $4.5 billion at September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, respectively.

(8)

Criticized exposure and ratios exclude assets held-for-sale and exposure measured at fair value in accordance with SFAS 159. Including assets held-for-sale and commercial loans measured at fair value, the ratios would have been 7.94 percent, 6.62 percent, 6.12 percent, 4.77 percent and 3.66 percent at September 30, 2008, June 30, 2008, March 31, 2008, December 31, 2007 and September 30, 2007, respectively.

Loans are classified as domestic or foreign based upon the domicile of the borrower.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios ^{(1, 2)}

(Dollars in millions)


	Third Quarter 2008				Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007				Third Quarter 2007
Held Basis	Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent
Residential mortgage	$ 242		0.37	%	$ 151		0.24	%	$ 66		0.10	%	$ 27		0.04	%	$ 13		0.02	%
Home equity	964		2.53		923		3.09		496		1.71		179		0.63		50		0.20
Discontinued real estate	(3	)	(0.05	)	—		—		—		—		—		—		—		—
Credit card - domestic	1,094		6.86		976		6.36		847		5.39		738		4.87		712		4.91
Credit card - foreign	148		3.46		132		3.21		109		2.87		108		2.99		96		3.19
Direct/Indirect consumer	845		3.94		660		3.22		555		2.84		456		2.41		353		1.92
Other consumer	106		11.36		83		8.47		86		8.61		96		9.08		78		7.18

Total consumer	3,396		2.24		2,925		2.17		2,159		1.58		1,604		1.17		1,302		0.99

Commercial - domestic ⁽³⁾	117		0.23		70		0.14		77		0.16		64		0.13		11		0.03
Commercial real estate	262		1.65		136		0.88		107		0.70		17		0.12		28		0.28
Commercial lease financing	8		0.13		6		0.11		15		0.27		17		0.31		(3	)	(0.07	)
Commercial - foreign	46		0.56		5		0.06		(7	)	(0.10	)	2		0.03		(4	)	(0.06	)

	433		0.54		217		0.28		192		0.25		100		0.13		32		0.05
Small business commercial - domestic	527		10.64		477		9.59		364		7.44		281		5.92		239		5.38

Total commercial	960		1.13		694		0.84		556		0.69		381		0.47		271		0.42

Total net charge-offs	$4,356		1.84		$3,619		1.67		$2,715		1.25		$1,985		0.91		$1,573		0.80

By Business Segment
Global Consumer and Small Business Banking ⁽⁴⁾	$5,169		5.23	%	$4,721		5.16	%	$3,693		4.10	%	$3,033		3.42	%	$2,687		3.17	%
Global Corporate and Investment Banking	604		0.71		318		0.39		328		0.41		214		0.26		114		0.17
Global Wealth and Investment Management	108		0.49		92		0.42		52		0.24		28		0.13		16		0.08
All Other ⁽⁴⁾	(1,525	)	(4.94	)	(1,512	)	(7.00	)	(1,358	)	(5.41	)	(1,290	)	(4.85	)	(1,244	)	(4.77	)

Total net charge-offs	$4,356		1.84		$3,619		1.67		$2,715		1.25		$1,985		0.91		$1,573		0.80

Supplemental managed basis data
Credit card - domestic	$2,643		6.87	%	$2,414		6.36	%	$2,068		5.48	%	$1,816		4.90	%	$1,707		4.76	%
Credit card - foreign	353		4.21		337		4.11		304		3.84		322		4.06		317		4.24

Total credit card managed net losses	$2,996		6.40		$2,751		5.96		$2,372		5.19		$2,138		4.75		$2,024		4.67

(1)

Net charge-off/loss ratios are calculated as annualized held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases excluding loans measured at fair value in accordance with SFAS 159 during the period for each loan and lease category.

(2)

Net charge-offs include the impact of SOP 03-3 which decreased net charge-offs on residential mortgage $283 million, home equity $768 million, discontinued real estate $943 million, commercial - domestic $14 million, commercial real estate $17 million and small business commercial - domestic $2 million for the three months ended September 30, 2008; on residential mortgage $3 million, home equity $4 million, commercial - domestic $3 million, commercial real estate $8 million and small business commercial - domestic $2 million for the three months ended June 30, 2008; on residential mortgage $2 million, home equity $3 million, commercial - domestic $3 million, commercial real estate $8 million and small business commercial - domestic $3 million for the three months ended March 31, 2008; and on residential mortgage $2 million, home equity $8 million, direct/indirect consumer $2 million, commercial - domestic $29 million, commercial real estate $27 million, commercial lease financing $2 million and small business commercial - domestic $5 million for the three months ended December 31, 2007. The impact of SOP 03-3 was not material for the three months ended September 30, 2007.

(3)

Excludes small business commercial - domestic loans.

(4)

Global Consumer and Small Business Banking is presented on a managed basis, specifically Card Services. The securitization offset is included within All Other.

Loans are classified as domestic or foreign based upon the domicile of the borrower.

Certain prior period amounts have been reclassified to conform to current period presentation.

LOGO

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Year-to-Date Net Charge-offs/Losses and Net Charge-off/Loss Ratios^{(1, 2)}

(Dollars in millions)


	Nine Months Ended September 30
	2008				2007
Held Basis	Amount		Percent		Amount		Percent
Residential mortgage	$ 459		0.23	%	$ 30		0.02	%
Home equity	2,383		2.46		95		0.13
Discontinued real estate	(3	)	(0.05	)	—		—
Credit card - domestic	2,917		6.20		2,325		5.44
Credit card - foreign	389		3.19		270		3.09
Direct/Indirect consumer	2,060		3.35		917		1.75
Other consumer	275		9.45		182		5.78

Total consumer	8,480		2.01		3,819		1.02

Commercial - domestic ⁽³⁾	264		0.18		64		0.06
Commercial real estate	505		1.08		30		0.11
Commercial lease financing	29		0.17		(15	)	(0.10	)
Commercial - foreign	44		0.18		(1	)	(0.01	)

	842		0.36		78		0.04
Small business commercial - domestic	1,368		9.23		598		4.82

Total commercial	2,210		0.89		676		0.37

Total net charge-offs	$10,690		1.59		$ 4,495		0.80


By Business Segment:
Global Consumer and Small Business Banking ⁽⁴⁾	$13,583		4.84	%	$ 7,782		3.22	%
Global Corporate and Investment Banking	1,250		0.51		290		0.15
Global Wealth and Investment Management	252		0.39		38		0.07
All Other ⁽⁴⁾	(4,395	)	(5.67	)	(3,615	)	(4.89	)

Total net charge-offs	$10,690		1.59		$ 4,495		0.80

Supplemental managed basis data
Credit card - domestic	$ 7,125		6.24	%	$ 5,144		4.91	%
Credit card - foreign	994		4.06		932		4.31

Total credit card managed net losses	$ 8,119		5.85		$ 6,076		4.81

(1)

(2)

Net charge-offs include the impact of SOP 03-3 which decreased net charge-offs on residential mortgage $288 million, home equity $775 million, discontinued real estate $943 million, commercial - domestic $20 million, commercial real estate $33 million and small business commercial - domestic $7 million for the nine months ended September 30, 2008. The impact of SOP 03-3 was not material for the nine months ended September 30, 2007.

(3)

Excludes small business commercial - domestic loans.

(4)

Global Consumer and Small Business Banking is presented on a managed basis, specifically Card Services. The securitization offset is included within

All Other.

Loans are classified as domestic or foreign based upon the domicile of the borrower.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Bank of America Corporation and Subsidiaries

Allocation of the Allowance for Credit Losses by Product Type

(Dollars in millions)


	September 30 2008			June 30 2008			September 30 2007
Allowance for loan and lease losses	Amount	Percent of loans and leases outstanding ⁽¹⁾		Amount	Percent of loans and leases outstanding ⁽¹⁾		Amount	Percent of loans and leases outstanding ⁽¹⁾
Residential mortgage	$ 1,376	0.54	%	$ 792	0.34	%	$ 201	0.07	%
Home equity	4,744	3.12		3,812	3.14		402	0.40
Discontinued real estate	82	0.37		—	—		—	—
Credit card - domestic	3,624	5.75		3,210	5.17		2,751	4.69
Credit card - foreign	633	3.45		474	2.86		345	2.66
Direct/Indirect consumer	3,742	4.52		2,964	3.49		1,743	2.36
Other consumer	184	5.02		185	4.81		157	3.64

Total consumer	14,385	2.40		11,437	2.18		5,599	1.07

Commercial - domestic ⁽²⁾	4,072	1.86		3,844	1.74		2,764	1.56
Commercial real estate	1,376	2.16		1,333	2.12		644	1.60
Commercial lease financing	210	0.94		199	0.87		186	0.91
Commercial - foreign	303	0.92		317	0.91		342	1.21

Total commercial ⁽³⁾	5,961	1.76		5,693	1.67		3,936	1.48

Allowance for loan and lease losses	20,346	2.17		17,130	1.98		9,535	1.21
Reserve for unfunded lending commitments	427			507			392

Allowance for credit losses	$20,773			$17,637			$9,927

(1)

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans measured at fair value in accordance with SFAS 159 for each loan and lease category. Loans measured at fair value include commercial - domestic loans of $4.0 billion, $3.5 billion and $3.6 billion, commercial - foreign loans of $1.2 billion, $1.3 billion and $672 million, and commercial real estate loans of $213 million, $176 million and $224 million at September 30, 2008, June 30, 2008 and September 30, 2007.

(2)

Includes allowance for small business commercial - domestic loans of $561 billion, $2.1 billion and $1.2 billion at September 30, 2008, June 30, 2008 and September 30, 2007.

(3)

Includes allowance for loan and lease losses for impaired commercial loans of $561 million, $417 million and $88 million at September 30, 2008, June 30, 2008 and September 30, 2007.

Certain prior period amounts have been reclassified to conform to current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Global Consumer and Small Business Banking - Reconciliation

(Dollars in millions)


	Nine Months Ended September 30, 2008				Nine Months Ended September 30, 2007				Third Quarter 2008
	Managed Basis⁽¹⁾	Securitization Impact⁽²⁾		Held Basis	Managed Basis⁽¹⁾	Securitization Impact⁽²⁾		Held Basis	Managed Basis⁽¹⁾	Securitization Impact⁽²⁾		Held Basis
Net interest income ⁽³⁾	$ 24,636	$ (6,402	)	$ 18,234	$21,378	$(5,956	)	$ 15,422	$8,938	$(2,207	)	$6,731
Noninterest income:
Card income	7,583	1,768		9,351	7,567	2,528		10,095	2,296	507		2,803
Service charges	5,130	—		5,130	4,385	—		4,385	1,822	—		1,822
Mortgage banking income	2,820	—		2,820	842	—		842	1,756	—		1,756
Insurance premiums	1,203	(152	)	1,051	662	(193	)	469	709	(44	)	665
All other income	1,120	(28	)	1,092	497	(28	)	469	408	(10	)	398

Total noninterest income	17,856	1,588		19,444	13,953	2,307		16,260	6,991	453		7,444

Total revenue, net of interest expense	42,492	(4,814	)	37,678	35,331	(3,649	)	31,682	15,929	(1,754	)	14,175

Provision for credit losses	19,655	(4,814	)	14,841	8,626	(3,649	)	4,977	6,655	(1,754	)	4,901
Noninterest expense	17,820	—		17,820	14,793	—		14,793	7,275	—		7,275

Income before income taxes	5,017	—		5,017	11,912	—		11,912	1,999	—		1,999
Income tax expense⁽³⁾	1,849	—		1,849	4,393	—		4,393	765	—		765

Net income	$ 3,168	$ —		$ 3,168	$ 7,519	$ —		$ 7,519	$1,234	$ —		$1,234


Balance sheet
Average - total loans and leases	$374,494	$(106,177	)	$268,317	$319,123	$(102,675	)	$216,448	$393,373	$(105,919	)	$287,454
Period end - total loans and leases	392,219	(102,049	)	290,170	337,792	(103,542	)	234,250	392,219	(102,049	)	290,170

	Second Quarter 2008				First Quarter 2008				Fourth Quarter 2007
	Managed Basis⁽¹⁾	Securitization Impact⁽²⁾		Held Basis	Managed Basis⁽¹⁾	Securitization Impact⁽²⁾		Held Basis	Managed Basis⁽¹⁾	Securitization Impact⁽²⁾		Held Basis
Net interest income ⁽³⁾	$ 8,018	$ (2,140	)	$ 5,878	$ 7,680	$ (2,055	)	$ 5,625	$ 7,444	$ (2,071	)	$ 5,373
Noninterest income:
Card income	2,560	557		3,117	2,727	704		3,431	2,627	828		3,455
Service charges	1,743	—		1,743	1,565	—		1,565	1,623	—		1,623
Mortgage banking income	409	—		409	655	—		655	490	—		490
Insurance premiums	253	(52	)	201	241	(56	)	185	250	(57	)	193
All other income	208	(9	)	199	504	(9	)	495	200	(10	)	190

Total noninterest income	5,173	496		5,669	5,692	639		6,331	5,190	761		5,951

Total revenue, net of interest expense	13,191	(1,644	)	11,547	13,372	(1,416	)	11,956	12,634	(1,310	)	11,324

Provision for credit losses	6,545	(1,644	)	4,901	6,455	(1,416	)	5,039	4,296	(1,310	)	2,986
Noninterest expense	5,363	—		5,363	5,182	—		5,182	5,578	—		5,578

Income before income taxes	1,283	—		1,283	1,735	—		1,735	2,760	—		2,760
Income tax expense⁽³⁾	452	—		452	632	—		632	862	—		862

Net income	$ 831	$ —		$ 831	$ 1,103	$ —		$ 1,103	$ 1,898	$ —		$ 1,898


Balance sheet
Average - total loans and leases	$367,839	$(107,438	)	$260,401	$362,062	$(105,176	)	$256,886	$352,167	$(105,091	)	$247,076
Period end - total loans and leases	364,608	(108,521	)	256,087	363,355	(107,847	)	255,508	359,008	(102,967	)	256,041

	Third Quarter 2007
	Managed Basis⁽¹⁾	Securitization Impact⁽²⁾		Held Basis
Net interest income ⁽³⁾	$7,257	$(2,085	)	$5,172
Noninterest income:
Card income	2,588	896		3,484
Service charges	1,519	—		1,519
Mortgage banking income	243	—		243
Insurance premiums	266	(58	)	208
All other income	202	(12	)	190

Total noninterest income	4,818	826		5,644

Total revenue, net of interest expense	12,075	(1,259	)	10,816

Provision for credit losses	3,122	(1,259	)	1,863
Noninterest expense	5,281	—		5,281

Income before income taxes	3,672	—		3,672
Income tax expense⁽³⁾	1,359	—		1,359

Net income	$2,313	$—		$2,313


Balance sheet
Average - total loans and leases	$331,674	$(104,317	)	$227,357
Period end - total loans and leases	337,792	(103,542	)	234,250

(1)

Provision for credit losses represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

(2)

The securitization impact on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3)

Fully taxable-equivalent basis

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

The Corporation reports Global Consumer and Small Business Banking’s results, specifically Card Services, on a managed basis. This basis of presentation excludes the Corporation’s securitized mortgage and home equity portfolios for which the Corporation retains servicing. Reporting on a managed basis is consistent with the way that management evaluates the results of Global Consumer and Small Business Banking. Managed basis assumes that securitized loans were not sold and presents earnings on these loans in a manner similar to the way loans that have not been sold (i.e., held loans) are presented. Loan securitization is an alternative funding process that is used by the Corporation to diversify funding sources. Loan securitization removes loans from the Consolidated Balance Sheet through the sale of loans to an off-balance sheet qualified special purpose entity which is excluded from the Corporation’s Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States (GAAP).

The performance of the managed portfolio is important in understanding Global Consumer and Small Business Banking’s and Card Services’ results as it demonstrates the results of the entire portfolio serviced by the business. Securitized loans continue to be serviced by the business and are subject to the same underwriting standards and ongoing monitoring as held loans. In addition, retained excess servicing income is exposed to similar credit risk and repricing of interest rates as held loans. Global Consumer and Small Business Banking’s managed income statement line items differ from a held basis reported as follows:

•

Managed net interest income includes Global Consumer and Small Business Banking’s net interest income on held loans and interest income on the securitized loans less the internal funds transfer pricing allocation related to securitized loans.

•

Managed noninterest income includes Global Consumer and Small Business Banking’s noninterest income on a held basis less the reclassification of certain components of card income (e.g., excess servicing income) to record managed net interest income and provision for credit losses. Noninterest income, both on a held and managed basis, also includes the impact of adjustments to the interest-only strip that are recorded in card income as management continues to manage this impact within Global Consumer and Small Business Banking.

•

Provision for credit losses represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation and Subsidiaries

All Other - Reconciliation

(Dollars in millions)


	Nine Months Ended September 30, 2008						Nine Months Ended September 30, 2007						Third Quarter 2008
	Reported Basis⁽¹⁾		Securitization Offset⁽²⁾		As Adjusted		Reported Basis⁽¹⁾		Securitization Offset⁽²⁾		As Adjusted		Reported Basis⁽¹⁾		Securitization Offset⁽²⁾		As Adjusted
Net interest income ⁽³⁾	$ (6,408	)	$ 6,402		$ (6	)	$ (5,584	)	$ 5,956		$ 372		$ (2,391	)	$ 2,207		$(184	)
Noninterest income:
Card income	1,796		(1,768	)	28		2,137		(2,528	)	(391	)	537		(507	)	30
Equity investment income (loss)	652		—		652		3,467		—		3,467		(326	)	—		(326	)
Gains (losses) on sales of debt securities	349		—		349		70		—		70		(2	)	—		(2	)
All other income (loss)	(289	)	180		(109	)	(325	)	221		(104	)	68		54		122

Total noninterest income	2,508		(1,588	)	920		5,349		(2,307	)	3,042		277		(453	)	(176	)

Total revenue, net of interest expense	(3,900	)	4,814		914		(235	)	3,649		3,414		(2,114	)	1,754		(360	)
Provision for credit losses	(3,542	)	4,814		1,272		(3,915	)	3,649		(266	)	(1,134	)	1,754		620
Merger and restructuring charges	629		—		629		270		—		270		247		—		247
All other noninterest expense	145		—		145		123		—		123		(53	)	—		(53	)

Income (loss) before income taxes	(1,132	)	—		(1,132	)	3,287		—		3,287		(1,174	)	—		(1,174	)
Income tax expense (benefit)⁽³⁾	(492	)	—		(492	)	959		—		959		(517	)	—		(517	)

Net income (loss)	$ (640	)	$ —		$ (640	)	$ 2,328		$ —		$ 2,328		$ (657	)	$ —		$(657	)


Balance sheet
Average - total loans and leases	$103,592		$106,177		$209,769		$98,815		$102,675		$201,490		$122,794		$105,919		$228,713
Period end - total loans and leases	121,833		102,049		223,882		101,278		103,542		204,820		121,833		102,049		223,882

	Second Quarter 2008						First Quarter 2008						Fourth Quarter 2007
	Reported Basis⁽¹⁾		Securitization Offset⁽²⁾		As Adjusted		Reported Basis⁽¹⁾		Securitization Offset⁽²⁾		As Adjusted		Reported Basis⁽¹⁾		Securitization Offset⁽²⁾		As Adjusted
Net interest income ⁽³⁾	$ (2,036	)	$ 2,140		$ 104		$ (1,981	)	$ 2,055		$ 74		$ (2,035	)	$ 2,071		$36
Noninterest income:
Card income	595		(557	)	38		664		(704	)	(40	)	680		(828	)	(148	)
Equity investment income	710		—		710		268		—		268		278		—		278
Gains on sales of debt securities	131		—		131		220		—		220		110		—		110
All other income (loss)	(100	)	61		(39	)	(257	)	65		(192	)	751		67		818

Total noninterest income	1,336		(496	)	840		895		(639	)	256		1,819		(761	)	1,058

Total revenue, net of interest expense	(700	)	1,644		944		(1,086	)	1,416		330		(216	)	1,310		1,094
Provision for credit losses	(1,195	)	1,644		449		(1,213	)	1,416		203		(1,294	)	1,310		16
Merger and restructuring charges	212		—		212		170		—		170		140		—		140
All other noninterest expense	50		—		50		148		—		148		(58	)	—		(58	)

Income (loss) before income taxes	233		—		233		(191	)	—		(191	)	996		—		996
Income tax expense (benefit)⁽³⁾	(24	)	—		(24	)	49		—		49		142		—		142

Net income (loss)	$ 257		$ —		$ 257		$ (240	)	$ —		$ (240	)	$ 854		$ —		$854


Balance sheet
Average - total loans and leases	$86,899		$107,438		$194,337		$100,874		$105,176		$206,050		$105,514		$105,091		$210,605
Period end - total loans and leases	71,639		108,521		180,160		95,124		107,847		202,971		106,694		102,967		209,661

	Third Quarter 2007
	Reported Basis⁽¹⁾		Securitization Offset⁽²⁾		As Adjusted
Net interest income ⁽³⁾	$ (1,980	)	$ 2,085		$ 105
Noninterest income:
Card income	739		(896	)	(157	)
Equity investment income	852		—		852
Gains on sales of debt securities	7		—		7
All other income (loss)	(218	)	70		(148	)

Total noninterest income	1,380		(826	)	554

Total revenue, net of interest expense	(600	)	1,259		659
Provision for credit losses	(1,290	)	1,259		(31	)
Merger and restructuring charges	84		—		84
All other noninterest expense	(410	)	—		(410	)

Income before income taxes	1,016		—		1,016
Income tax expense⁽³⁾	279		—		279

Net income	$ 737		$ —		$ 737


Balance sheet
Average - total loans and leases	$103,503		$104,317		$207,820
Period end - total loans and leases	101,278		103,542		204,820

(1)

Provision for credit losses represents provision for credit losses in All Other combined with the Global Consumer and Small Business Banking securitization offset.

(2)

The securitization offset on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3)

Fully taxable-equivalent basis

Certain prior period amounts have been reclassified among the segments to conform to the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition; prior periods have not been restated.

This information is preliminary and based on company data available at the time of the presentation.