Bank of America Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Sale of Wealth Management Businesses

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.