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Bank of America Sees $1 6B Charge In Q4 On Bloomberg Benchmark Phase-Out - Bank of America (NYSE:BAC)

Bank of America Corp (NYSE: BAC) expects to incur a net non-cash, pretax charge of about 

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Bank of America faces $1 6 billion charge amid LIBOR transition

Major banks navigate financial impacts of switch from Bloomberg index

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Bank of America Takes $1 6 Billion Charge on Libor Transition

Bank of America Takes $1 6 Billion Charge on Libor Transition
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Bank of America to take $1 6 billion noncash charge as it transitions away from BSBY index for lending

Change is related to the global phase-out of the Bloomberg Short-Term Bank Yield Index,

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The End of LIBOR: Hotel California Edition (Part I) | ArentFox Schiff

Although July 3 was the first business day on which no USD LIBOR was published, many financial instruments will not reset until the next reset date, based upon the tenor of each.

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