[Mick]

For context, please note that Bank of America's equity -- how much it is worth on the balance sheet -- is $296.5 billion. Barron's is reporing a potential loss of $111 billion, which was the loss 6.5 months ago, based upon BofA's June balance sheet. So the potenial loss is a substantial portion of their equity. But they clearly intend to draw it out over the long run. My guess is that SVB probably intended something similar.

Here's their presentation from their Q3 call. Shows $568 bils. in Hold to Maturity bonds, which are not marked to market. And if you look at the prior two quarters, the bank obviously intends to wind down about $9 bils. per quarter, so they'll manage their losses over the long term:

3Q24 Earnings Presentation_ADA

B of A will report Q4/2024 earnings on a listen-only con call in three days. My guess is that their HTM holdings will be in the $559 bils. to $561 bils. range.

In case you own stock in one of the "too big to fail" banks, here are their gross unrealized bond losses in their hold-to-maturity accounts as of June 30, 2025:

Bank of America, $93.145B
JPMorgan Chase, $21.392B
Citigroup, $14.102B
Wells Fargo, $37.836B

Their aggregate unrealized losses were $172.28 billion as of March 31, 2025 and they've paid it down to $166.475 billion, so...baby steps.

[Mick]

For context, please note that Bank of America's equity -- how much it is worth on the balance sheet -- is $296.5 billion. Barron's is reporing a potential loss of $111 billion, which was the loss 6.5 months ago, based upon BofA's June balance sheet. So the potenial loss is a substantial portion of their equity. But they clearly intend to draw it out over the long run. My guess is that SVB probably intended something similar.

Here's their presentation from their Q3 call. Shows $568 bils. in Hold to Maturity bonds, which are not marked to market. And if you look at the prior two quarters, the bank obviously intends to wind down about $9 bils. per quarter, so they'll manage their losses over the long term:

3Q24 Earnings Presentation_ADA

B of A will report Q4/2024 earnings on a listen-only con call in three days. My guess is that their HTM holdings will be in the $559 bils. to $561 bils. range.

In case you own stock in one of the "too big to fail" banks, here are their gross unrealized bond losses in their hold-to-maturity accounts as of June 30, 2025:

Bank of America, $93.145B
JPMorgan Chase, $21.392B
Citigroup, $14.102B
Wells Fargo, $37.836B

Their aggregate unrealized losses were $172.28 billion as of March 31, 2025 and they've paid it down to $166.475 billion, so...baby steps.