Quarterly report pursuant to Section 13 or 15(d)

Sale of Wealth Management Businesses

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Sale of Wealth Management Businesses
6 Months Ended
Jun. 30, 2013
Sale of International Wealth Management Businesses [Abstract]  
Sale of International Wealth Management Businesses
Note 17.
Sale of International Wealth Management Business

In 2012, Merrill Lynch entered into agreements to sell its International Wealth Management ("IWM") business based outside of the U.S., subject to regulatory approval in multiple jurisdictions, and the first series of closings occurred in February 2013. During the six months ended June 30, 2013, Merrill Lynch recorded a loss of $71 million associated with certain initial costs incurred with the sale of the IWM business. Additional closings occurred in July 2013, which resulted in a gain of approximately $90 million.