News Flash: Bank of America acts to quell gossip

News Flash: Bank of America acts to quell gossip

In response to speculative rumours about alleged trading losses at the company, Bank of America Corporation this afternoon issued the following statement:

"We know of no basis to support speculative rumors about our operations. We are conducting business as usual. The company has not experienced any significant losses in derivatives or other trading activities. And the company remains comfortable with its guidance for credit quality in 2001 as provided to investors last month."

The statement was released shortly after the publication a Reuters report which alleged that the West Coast bank's stock had been suspended pending an imminent announcement.

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