Jpmorgan Chase To Present On The Financial Institution Of America Merrill Lynch Future Of Financials Convention
Before I pass the decision to Paul to review the fourth quarter, I wish to hit a couple of factors. First, I need to present some temporary commentary on 2020 for the complete year, then talk about what we see in the financial system as we enter 2021. Good day, everybody, and welcome to today’s Bank of America fourth-quarter earnings bulletins conference call. At this time, all individuals are on a pay attention-only mode. Later you may have the opportunity to ask questions in the course of the question-and-answer session. Please observe, right now’s name is being recorded and it is now my pleasure to turn the conference over to Lee McEntire.
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Different Shows And Occasions
These costs have been always incurred as a internet revenue reduction of their three way partnership accounting however now come via our expense line. Setting apart the elevated — net elevated COVID-related expense and a change in type of service provider companies, our teams proceed to do an excellent job managing prices and you’ll see that later when Paul talks about it. It maintains a give attention to using productiveness features to fund all the investments we’re making throughout the franchise and including growing shopper flows.
When we take into consideration consumer spending, we think about all the methods shoppers take money and devour and spend it to do things. This is exterior of just debit and credit score spending habits, which tend to get all of the discussion because they’re easy to trace, quite frankly. As some of these funds have been depleted and ran off and the volumes in fact grew again to the high — regular ranges, we saw a slowdown in the — within the rate of the restoration.
Bank Of America Reviews Fourth
Before I flip the call over to Brian and Paul, just let me remind you that we could make ahead-trying statements and check with non-GAAP financial measures through the name that regards various parts of our monetary results. Forward-wanting statements are primarily based on our administration’s present expectations and assumptions which might be topic to risks and uncertainties, and notably as we continue to operate during this pandemic interval. Factors that will cause precise results to materially differ from expectations are detailed in our earnings materials and SEC filings which might be obtainable on the website. Banc of America Securities Limited has approved the Sites for the aim of Section fifty seven of the Financial Services Act of 1986. Banc of America Securities Limited is regulated for the conduct of investment enterprise in the United Kingdom by the Securities and Futures Authority Limited. No access to the Sites shall be given in the United Kingdom to Private Customers, as that term is defined beneath the principles of The Securities and Futures Authority Limited; and any investments is not going to be made by us to any Private Customer.
So you noticed this morning to be ending that in a separate press release that our board has accredited share repurchase in the first quarter of up to $3.2 billion, together with shares issued to employees. This is along with maintaining our quarterly dividend of $0.18 per quarter, and that accounts for the return of one other $1.6 billion of capital. This is the maximum allowed on the Fed’s pointers established for first — the primary quarter .