Exhibit 99.2

New BAC Project and Run-off of Other Expenses

Phase 1

Deposits/ Card / Home Loans / Global Tech and Ops / Support areas

Completed evaluation in Sept ‘11, implementation began in October ‘11 Goal of annual cost savings of $5B, about 18% of the total Phase 1 base Goal of full run-rate expected in 2014

Phase 2

Commercial Banking / GWIM / Global Corporate Banking / Global Markets / Support Areas

Beginning in October 2011 with implementation expected to begin Spring 2012 Lower headcount base in Phase 2 versus Phase 1 Phase 2 businesses generally operate at a lower efficiency rate

Sold/Liquidating Businesses

Legacy Asset Servicing / International Consumer Card / Balboa / Correspondent

As foreclosures decline, certain default servicing costs are expected to be lower over time As business exits are completed related costs are expected to decline

Other Expenses

Amortization / FDIC insurance /

Litigation settlements / Waivers and assessments / Merger charges

Merger charges expected to end in 2011

Representations and Warranties

Liability for Representations and Warranties ($MM)

3Q10 4Q10 1Q11 2Q11 3Q11

Beginning Balance $3,939 $4,402 $5,438 $6,220 $17,780

Additions for new sales 6 8 7 3 3

Provision 872 4,140 1,013 14,037 278

Charge-offs(415)(3,028)(238)(2,480)(1,790)

Other -(84) - - -

Ending Balance $4,402 $5,438 $6,220 $17,780 $16,271

New Claim Trends ($MM)

3Q10 4Q10 1Q11 2Q11 3Q11 Mix

Pre 2005 $147 $455 $130 $210 $95 5%

2005 589 957 409 431 668 14%

2006 1,442 2,105 1,584 763 925 29%

2007 1,664 1,775 2,253 1,746 1,493 40%

2008 320 351 483 389 451 9%

Post 2008 56 105 128 158 164 3%

New Claims $4,218 $5,748 $4,987 $3,697 $3,796

% GSEs 82% 57% 88% 90% 87%

Rescinded

claims $1,531 $4,106 $934 $3,772 $1,454

Approved

repurchases 1,005 3,934 1,109 2,002 2,241

Outstanding

claims 12,948 10,687 13,564 11,580 11,672

% GSEs 53% 26% 39% 44% 40%

Outstanding Claims by Counterparty ($MM)

3Q10 4Q10 1Q11 2Q11 3Q11

GSEs $6,819 $2,821 $5,350 $5,081 $4,721 Monolines 4,238 4,678 4,979 3,052 3,058 Other 1,891 3,188 3,235 3,447 3,893 Total $12,948 $10,687 1 $13,564 1 $11,580 1 $11,672 1

Total representations and warranties provision for the quarter was $278MM compared to $14.0B in the prior quarter. The 3Q11 provision related primarily to the GSEs and is based upon results of our ongoing evaluation of the GSEs behavior, which is continually evolving Estimated range of possible loss related to non-GSE representations and warranties exposure could be up to $5B over existing accruals at Sept 30, 2011, unchanged from 2Q11. The company is not currently able to reasonably estimate the possible loss or range of possible loss with respect to GSE representations and warranties exposure over existing accruals at Sept 30, 2011 Decrease in rescissions in 3Q11 was primarily due to the Assured settlement in 2Q11 Increase in approvals in 2Q11 was due to an increase in throughput in processing GSEs claims as a result of staffing increases which continued in 3Q11 Our repurchase experience with the GSEs continues to evolve and their repurchase requests and resolution processes has become increasingly inconsistent with our interpretation of our contractual obligations. We will continue to closely evaluate these changing behaviors and intend to repurchase loans to the extent required under the contracts and standards that govern our relationships with the GSEs

1 Includes $1.7B in demands from private-label securitization investors who do not have the right to demand repurchase of loans directly. However, inclusion of these claims does not mean we believe that the claimant has satisfied the contractual thresholds to direct the securitization trustee to take action or that these claims are otherwise procedurally or substantively valid. A claimant has filed litigation against the company relating to certain of these claims. These claims related to loans underlying securitizations included in the settlement with Bank of New York Mellon, as trustee. If the settlement is approved by the court, these claims will be resolved by the settlement.

Representations and Warranties Exposure (2004-2008 vintages)

Representations and Warranties Exposure Status as of September 30, 2011 ($B)

(2004-2008) Originations

Original Outstanding Reserves

Counterparty Have Paid 1 Commentary 2

Balance Balance Established

GSE - FHLMC (CFC) $196 $93 FHLMC Agreement

GSE All Other 922 378 Reserves established, FNMA Pipeline Agreement

Second-lien monoline 81 15 Agreement with Assured and established

reserves for exposure where we have

experience and part of RPL

Whole loans sold 55 16 Reserves established

Private label (CFC issued) 409 163 Reserves established BONY agreement pending court approval

Private label (non CFC bank issued) 242 68 Reserves established

Private label (3rd party issued) 176 69 Included in non-GSE RPL

$2,081 $802 $13 $16

Does not include litigation reserves established

Estimated Range of Possible Loss (RPL) above accruals up to $5B for non-GSE exposures at September 30, 2011 2 Exposures identified above relate to repurchase claims associated with purported representations and warranties breaches in RMBS matters. They do not include any exposures associated with related litigation matters, nor do they include any separate foreclosure costs and related costs and assessments, or any possible losses related to potential claims for breaches of performance of servicing obligations, potential securities law or fraud claims or potential indemnity or other claims against us, which could be material

1 Reserves established and RPL are subject to adjustments in future periods based on a number of factors including ultimate resolution of the BNY Mellon Settlement, estimated repurchase rates, economic conditions, home prices, consumer and counterparty behavior, and a variety of judgmental factors. For more detail, please see our latest Form10-Q on file with the SEC.

2 Please see our latest Form 10-Q on file with the SEC for a discussion of the estimated RPL.