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According to Market Intelligence, April 2023


Bank of America reclassifies business segment results

Bank of America Corp.reclassified its business segment results, removing the Legacy Assets & Servicingsegment.

Effective April 1, the company will report the financial resultsof its operations through four business segments: Consumer Banking, Global Wealth& Investment Management, Global Banking and Global Markets, with the remainingoperations recorded in All Other.

The realignment resulted in net increases of $23 billion and$1 billion in consumer real estate loans held under Consumer Banking and All Other,respectively.