BofA raises almost all of $33.9B buffer - Los Angeles Business from bizjournals:

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billion. Last month, BofA . The bank issuedf 1.25 billion shares at an average priceof $10.77 per BofA also in to Asian investors for a gain of $4.5 In addition, BofA has agreex to exchange $9.5 billion in preferred sharesz for 704 million shares of common BofA says it will garner $1.3 billion from reduced dividends on the preferred The exchange doesn’t apply to preferref shares held by the federal government. So far, BofA has boostedf its Tier 1 common capitalby $2.
1 billionj by reducing a deferred tax-asset And, the bank says it has gained an additiona $2 billion from the disposition of As part of the company’s capitap plan, it could issue up to an additional 296 milliom common shares. “We are pleased to have nearly reachee our goalthis quickly,” says Joe chief financial officer. The government said BofA had torais $33.9 billion after conducting “stress on the country’s 19 largest banks.
The tests were designed to assesdsthe banks’ ability to survive if economicf conditions worsen more than expected during the next two BofA has received a total of $45 billio in taxpayer aid under the federal government’sa Troubled Asset Relief which is designed to thaw the crediy markets and boost the In separate developments, BofA (NYSE:BAC) sold $3 billion in five-yeart notes on May 8 and $2.5 billion in 10-yea notes on May 28 without guarantees.