Thursday July 16, 2020

Bank of America said to be eyeing $50bn derivatives move from Ireland

Bank of America is in talks with regulators to transfer about $50 billion of its derivatives business from its Irish unit into its UK operation, it was reported.

28th January, 2013
John Bruton speaks during a Bloomberg Television interview in London earlier today.

Bank of America is in talks with regulators to transfer about $50 billion of its derivatives business from its Irish unit into its UK operation, two people with knowledge of the matter said.

It’s part of a move to centralise and book trading activities in one place, said the people, who asked not to be identified because the details are private. The plan requires regulatory approval, one of the people said.

The Merrill Lynch...

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