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Thursday, January 15, 2009

BofA to Announce Results and Bailout Details on Friday

by Calculated Risk on 1/15/2009 07:07:00 PM

From the WSJ: Bank of America Nears Deal for Fresh Capital

Bank of America Corp. was near an agreement with U.S. officials late Thursday that would provide it with $15 billion to $20 billion of fresh capital while backstopping $115 billion to $120 billion of Bank of America assets to help shore up the bank.
The Treasury rescue deal ... could be announced as early as tonight, or alongside Bank of America's fourth-quarter earnings, which have been moved up to a Friday release.
Earnings will be announced at 7 AM ET on Friday.